Reinvestment Fund is financing renovations for two new vybe urgent care sites in Philadelphia. The new clinics will be the third and fourth locations in Philadelphia Urgent Care Management’s (PUCM) network.
Urgent care is a service that delivers quality, convenient and cost-effective health treatments that can reduce emergency room utilization. Urgent care clinics began to appear about 15 years ago to offer consumers services for illnesses and injuries on a walk-in basis, providing access to care for those with or without insurance.
vybe’s first two locations are in the Port Richmond and Roxborough neighborhoods of Philadelphia. vybe’s newest clinics are in Center City and South Philadelphia. Reinvestment Fund’s $1,710,000 of financing will replenish PUCM’s equity used for leasehold renovations, providing liquidity that will support the start-up operations for the new clinics. Reinvestment Fund’s financing is supported with capital from its Core Loan Fund.
PUCM’s urgent care clinics focus on convenience and patient experience, offering a broad range of health services for illnesses, injuries, physical exams, vaccinations, lab tests and x-rays, with extended daily and weekend operating hours. PUCM sees itself as filling a niche in Philadelphia’s health care ecosystem, offering a quicker and more affordable alternative to the emergency department and increasing community access to primary care physicians.
PUCM’s development and expansion of vybe facilities will meet the growing demand within the urgent care market. PUCM estimates annual patient visits will grow from 46,000 in 2017 to nearly 117,000 in 2022 as operations ramp up in its four locations.