Matter Health Raises $35M, With Plans For Up To 100 New Primary Care Centers

/in /by

A one-year-old Nashville startup has big expansion plans thanks to a fresh capital infusion.

Matter Health has closed on a $35 million round of funding, led by San Francisco-based Jordan Park Group, Matter Health co-founder and CEO Mason Mercy said in an exclusive interview.

Founded in 2021, Matter Health operates primary care clinics for inside affordable housing developments, focusing on seniors who qualify for both Medicare and Medicaid. The company currently has four clinics, two in Nashville and two in Memphis, with 23 additional centers under contract in Memphis, Nashville, Chattanooga, Knoxville and Atlanta scheduled to open this year, Mercy said.

Matter Health will use the new funding to open 70 to 100 new primary care centers by 2024, with 30 of those set to open by 2023, Mercy said. The company will also build a clinical support center in Nashville, with plans to hire 50 to 70 people by the end of next year.

Many of those new care clinics will be in Atlanta and Detroit, Mason said, because of their concentration of affordable housing complexes.

“We specifically focus on this population because this group lacks access to proper primary care and education around preventive services,” Mercy, who previously worked at LifePoint Health and Nashville-based startup Xsolis, said. “They most often use the emergency room or an urgent care center as their primary care and they often end up back in the hospital with major acute events because they have co-morbidities, as well. It’s a group that has a lot of challenges. Our goal is to bring this total health care solution right to where they live.”

Matter Health’s clinics feature a “living room” waiting area, an exam room and a telehealth conference area that enables residents who may not own a computer or need help navigating the process to speak with a clinician online. Each center is staffed with a nurse practitioner and a care navigator.

Despite being launched in the middle of the Covid-19 pandemic, Matter Health’s model proved to be especially effective during the crisis, Mercy said, allowing at-risk older adults to access care with limited exposure. The company was co-founded by former Xsolis executive director and current Matter Health President Austin Sohr, former Pfizer U.S. Government Relations Manager Harrison Steen and Canary Ventures president and co-founder of Nashville-based fintech Built Scott Sohr.

“We started Matter because we saw the need in the vulnerable population and we think our approach is pretty unique, in terms of brining health care to them,” Mercy said. 

 

Source:  NBJ

Vanbarton Healthcare Group and Tramview Capital Management Joint Venture Plan $100 Million Investment into Healthcare Properties Nationwide

/in /by

Vanbarton Healthcare Group, a newly formed operating division of New York City-based real estate investment manager Vanbarton Group LLC, is teaming with Tramview Capital Management in a joint venture targeting healthcare investments in select markets throughout the country.

Earlier this year, Vanbarton Group launched a healthcare division led by industry veterans Steve Leathers and Sean Leahy. Vanbarton Healthcare Group plans to acquire high quality medical office and specialty healthcare properties in growing markets throughout the US. With its healthcare joint venture partner Tramview, the division is targeting approximately $100 million of healthcare investments in the coming quarters.

The venture’s first closing consists of two medical office buildings totaling approximately 19,000 square feet in Port Charlotte and Venice, Florida which are fully leased to one of the largest providers of eye care services in Southwest Florida.

The acquisition included the flagship location for Community Eye Centers located adjacent to two major acute care hospitals with over 500 beds in Port Charlotte, Florida. The second location in Venice, Florida is located on the Tamiami Trail Road, a major route along Western Florida with approximately 41,000 cars passing per day. Each of these properties benefit from significant demographic tailwinds with both above average population growth and disproportionately high over 65 population who are large consumers of ophthalmic care.

“The recent Florida closings are indicative of Vanbarton Healthcare Group’s strategy of identifying overlooked pockets of value in an increasingly popular healthcare investment arena,” said company principal Steve Leathers. “Both properties offer steady cash flow with minimal landlord obligations coupled with attractive annual rental increases.”

The Vanbarton and Tramview joint venture will continue to seek similar opportunities in the healthcare real estate vertical in strong markets throughout the United States.

“The acquisition of these two well-located properties aligns with our strategy to aggregate well leased, quality medical office assets in U.S. markets with strong fundamentals,” said Rob Davies, Managing Partner of Tramview Capital Management. “Vanbarton has built a first-rate team, and we are thrilled to partner with them in executing this investment strategy.”

Vanbarton Group, LLC, is a vertically integrated real estate investment manager for global institutional investors. The New York-based firm has approximately 50 employees located in several offices throughout the country including New York, San Francisco and Seattle. For more information visit vanbartongroup.com.

Tramview Capital Management is a value-oriented real estate investment management firm focused on investing in institutional quality real estate in targeted growth markets across the U.S. Tramview was formed in 2020 and is currently investing its second comingled fund. Tramview leadership has overseen and managed approximately $5 billion of equity invested globally across all property types and throughout the capital stack on behalf of institutional clients (e.g. pension funds, sovereign wealth funds, endowments, foundations) and high net worth individuals. For more information, visit http://www.tramview.com.

 

Source: PRWeb

Scottish Rite Buys 76-Acre Site For Facility In Celina As Medical Push Moves Further North Of Dallas

/in , , /by

Scottish Rite for Children has acquired 76-acre site for a facility in Celina, according to a story in the Dallas Morning News.

Near the intersection of Dallas Parkway and Punk Carter Parkway, the property is part of a Celina Station tract west of the 1,100-acre Light Farms community.

REX Real Estate land broker Rex Glendenning handled the sale with Randy Church of Wicker & Associates and Joe Graham representing Scottish Rite.

According to the story, the Methodist facility will be at the southeast corner of Glendenning Parkway and the tollway extension with Scottish Rite’s campus is planned about half-mile south at the tollway and the outer loop. Another 40-acre medical campus for Scottish Rite is on the tollway in Frisco.

Scottish Rite follows along with other major medical facilities as they expand north including Baylor Scott & White’s 47-acre medical center in Frisco and Children’s Health 72-acre and Cook Children’s 23-acre facilities in Prosper.

 

Source: Dallas Business Journal