MedTech Private Equity Firm Invests in Multiple-Location Primary Care Provider in Arizona

inbusinessPHX.com

Kain Capital LLC, a leading private equity firm focused on the technology enablement of healthcare services companies, today announced it has completed a growth equity investment in MY DR NOW, a leading provider of primary and specialty care with locations in Arizona. The investment marks the first time MY DR NOW has received external capital and Kain Capital is the sole investor. Financial terms of the transaction were not disclosed.

With a reputation for innovation, and as Arizona’s largest privately owned primary care group, MY DR NOW serves the greater Phoenix market with over 80 providers at 13 locations. Founded by Dr. Payam Zamani while in residency, MY DR NOW is a fully comprehensive, value-based, integrated primary and specialty care platform which strides to make healthcare incredibly easy with its omni-channel approach to care delivery via its convenient retail-based clinic locations, mobile house calls and virtual service offerings. All MY DR NOW services, including primary care, mental health and specialty services are available with extended hours on a scheduled or on-demand basis 7 days a week, including holidays.

“Partnering with Kain Capital is critical to our strategic multi-year effort to expand our footprint in Arizona and across the country,” said Dr. Zamani. “MY DR NOW’s unique and proven omni-channel model allows for convenience which is more conducive to consumer lifestyle expectations, while driving improved outcomes at a lower cost. We were very careful in selecting a partner that understood the MY DR NOW vision while providing access to resources which allows our clinicians and executive team to focus on providing high quality care.” Dr. Zamani will remain Chief Executive Officer, majority shareholder and board member of MY DR NOW.

“MY DR NOW has proven excellence in patient experience,” said Kunal Kain, Managing Partner at Kain Capital who will join the MY DR NOW Board of Directors. “We believe this success is due to MY DR NOW’s unique model. We are very pleased to continue to expand best practices from the existing network to additional locations and new service lines.”

“We are thrilled to partner with Dr. Zamani and his team to help broaden access for highly needed primary care services in Arizona,” said Steven Yecies, Managing Partner at Kain Capital. “The physical and technical convenience offered is the future of healthcare, and we look forward to collaborating on further innovations with the MY DR NOW team.”

Orrick, LLP provided legal counsel services to Kain Capital. McGuireWoods, LLP served as legal counsel to MY DR NOW.