CoreCo Private Equity announces investment in Urgencias Medicas
Guatemala City, Guatemala – CoreCo Private Equity, the private equity fund targeting investments in Central America and the Dominican Republic, has announced an investment in Urgencias Médicas, a Guatemala-based company offering urgent care clinics focused on the middle class sector and targeting the unmet need of on-demand (no appointment required) family healthcare services. CoreCo’s investment will be used to fund working capital and the development of new urgent care clinics throughout Guatemala.
“We are excited to partner with Urgencias Médicas in the development of a service offering that, while in high demand, was previously unavailable to the fast-growing middle-income population segment in Central America. Private, on-demand medical care heretofore had been available only to the wealthy populations and pricing of the services reflected high disposable incomes of that population segment.” commented Alex von der Goltz, General Partner at CoreCo. “Urgencias Médicas focuses its service offering on the patient as a “client” where timeliness of care delivery is a central focus, pricing is reasonable (comparable to the State-sponsored services), and the medical care is delivered in a modern, well-supplied clinical setting.”
The Company completed the first phase of its planned multi-clinic rollout and is operating its flagship first clinic in a high foot-traffic location in central Guatemala City. The Company is looking to partner with several large, regional and international insurance companies to provide medical care to a captive membership base, as well as to walk-in traffic, and will continue to develop future clinics in Central America in the most favorable locations to serve these target populations.
About CoreCo: CoreCo is a private equity firm focused on making investments in Central America with offices in Miami, Guatemala, and Costa Rica. The partnership targets growth equity investments across diverse sectors with the view that portfolio companies have the potential to become regional leaders in their respective sectors.
About Urgencias Médicas: Urgencias Médicas provides a low-cost environment to deliver high-standard medical care that is equal to or surpasses that of the private care system for non-invasive treatments and general diagnostic and pharmaceutical services, and far exceeds that available to the general population through the State-run health delivery network. Coupled with a service pricing matrix for medical procedures that is below that available in the private health clinic, Urgencias Médicas offers a broad range of services which includes general practice medicine, women’s health, ophthalmic, dental and light wound care, as well as full x-ray and non-esoteric lab work in a one-stop-shop approach that allows a client to receive treatment in a single visit with little to no wait time before being seen by a physician. No other service offering today provides the same cost and time advantages of Urgencias Médicas in Guatemala City.
Urgencias Médicas is developing strategic relationships with insurance companies to drive patient volumes among the insurers’ membership base. This strategic relationship with insurance partners strengthens Urgencias Médicas market standing and significantly augments the Company’s walk-in service client base. It is expected that the value of relationship that the Company provides its insurance partners will only increase over time and will prove a strong avenue for future growth in Guatemala and beyond into the broader Central American region.
As the above issues of unmet medical need are not restricted to Guatemala alone, but indeed extend throughout Central America, Urgencias Médicas ambition is to grow regionally to become the key provider of on-site urgent medical care in Central America.
CoreCo Private Equity
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