Boston, MA 05/14/2014 (wallstreetpr) – American Caresource Holdings, Inc. (NASDAQ:ANCI) acquired Atlanta based urgent care center CorrectMed to expand its quality care services.
Why urgent care
Urgent care centers consider as one of the fastest growing segment in American healthcare. The market grew from $11 billion in 2008 to $14.5 billion in 2013 according to the IBISWorld market research estimates and expects to grow at 5.3% per year to reach $18.8 billion by 2018. The primary reasons for the growth are due to growing needs of primary care, expansion of primary health and the impact of the Patient Protection and Affordable Care Act (PPACA).
What benefit
The market highly fragmented in the U.S. with four largest companies together contributes less than one percent of revenue. As a result, the opportunity remains high for American Caresource Holdings, Inc. (NASDAQ:ANCI) as it supports ancillary healthcare services to a large network of healthcare providers across the nation to deliver urgent and primary care.
So, the merger will help American CareSource to enter into the fast growing $14.5 million urgent care market and help to expand patient retention through primary care business.
What next
American Caresource Holdings, Inc. (NASDAQ:ANCI)’s ancillary networks provide complete outsourced solutions to a large number of healthcare payers and plan sponsors. It includes indemnity insurers, self-insured employers, PPOs and HMOs. It also covers both the federal and local governments and third party administrators.
The Company continues to see future opportunities to provide complete healthcare solutions either through developing partnerships or acquisition to create strong market presence that help to increase patient volume.
The urgent care centers already have a strong clinical leadership position and the association with American Caresource Holdings, Inc. (NASDAQ:ANCI) will further establish the centers as a provider of high quality affordable healthcare.
The increasing growth potential will help to generate returns on investment for shareholders.
