Case Study
HealthStop, LLC ("HealthStop") was formed in 2006 to develop retail-based health clinics for the treatment of minor medical problems - a subset of those patients currently seen in urgent care centers, primary care physicians' offices, and emergency departments. The clinics are located in large retail stores and are staffed by a nurse practitioner and a medical assistant who utilize state-of-the-art electronic medical records to evaluate common illnesses, make a diagnosis and recommend appropriate treatment including the writing of prescriptions when indicated.
In 2006, HealthStop's majority shareholder approached Aspen with a request that Aspen secure growth capital to fund the Company's rapid expansion of its health clinics. While the Company had acquired fourteen clinics and had contractual arrangements with leading retailers such Wal-Mart and Kroger, the Company was still in the early stages of its life cycle and required significant capital to add additional clinics. Due to the stage and growth characteristics of the Company, Aspen was able to secure a $24.5 million capital commitment from a large private equity sponsor that would be funded when certain milestones were met by the Company.
We view this transaction as a prime example of our ability to successfully meet our client's needs through innovative financing solutions.
“Aspen's involvement helped us secure the right financing with the right partner providing HealthStop with the funding commitment necessary to execute its growth plan.”
Dan Patterson, Founding Partner, Transition Capital Partners