×

American CareSource Completes Acquisition of Virginia Urgent Care Centers

ATLANTA, Jan. 6, 2015 (GLOBE NEWSWIRE) -- American CareSource Holdings (Nasdaq:ANCI) ("Company"), operator of urgent care centers and a national network of ancillary health care providers, announced today that its Virginia subsidiary has completed the purchase of substantially all the assets used in the operation of two urgent care centers located in northern Virginia.

The two centers, located in Fairfax and Gainesville, were wholly-owned by Charles I. Okorie, M.D. and represent the Company's initial acquisitions in the State of Virginia. The centers will be the centerpiece of the Company's strategy to become the high-quality, patient-centric provider of convenient, affordable urgent care in the northern Virginia market.

Since opening, the physician-owned centers have grown by consistently providing outstanding patient care to local community members. The centers are well regarded in their respective communities and both capitalize on strong locations in high-traffic areas. The vast majority, if not all, of the key staff and providers have elected to stay with the enterprise going forward.

"We are delighted to continue our urgent care acquisition strategy into the State of Virginia, and could not be more pleased with our physician leader. We wholeheartedly welcome Charles I. Okorie M.D. to the American CareSource team, and we are grateful for his continued service as Medical Director for these centers," said Dr. Richard W. Turner, the company's Chairman and Chief Executive Officer.

"Dr. Okorie and his team have developed a strong following by providing high-quality, patient-centric health care, and we anticipate the centers will continue to grow and address consumer demand for northern Virginia," Dr. Turner said.

With the addition of the two centers, the Company now owns and operates a total of ten centers in the States of Alabama, Florida, Georgia, and Virginia.

The Company is continuing to pursue urgent care acquisition opportunities that fit its model and negotiate to build its urgent care platform.

About American CareSource Holdings, Inc.

American CareSource Holdings is the owner and operator of a growing chain of urgent care centers located in Georgia, Florida, Alabama, Virginia and the southeastern United States. American CareSource strives to improve access to quality medical care by offering extended hours and weekend service and also by accepting patients by appointment and on a walk-in basis. The centers offer a broad range of medical services falling within the classification of urgent care, primary care, family practice and occupational medicine. We offer non-emergent, out-patient medical care for the treatment of acute, episodic, and some chronic medical problems such as colds, flu, ear infections, hypertension, asthma, and pneumonia. In addition the centers treat minor injuries, perform minor surgeries and conduct diagnostic tests such as x-rays and drug tests. The Company's centers will provide consumers with alternatives to address challenges created by limited access to care and rising health care costs. The Company also operates a national network of ancillary care providers that includes approximately 4,800 ancillary service providers and approximately 33,000 sites. For additional information, please visit www.americancaresource.com.

CONTACT: Investor Relations Contact: Adam Winger, General Counsel and Acting Chief Financial Officer awinger@americancaresource.com (205) 250-8381Source:American CareSource Holdings, Inc.