PM Pediatrics: Scaling Pediatric Urgent Care

Steve Katz and Dr. Jeff Schor founded PM Pediatrics in 2005 with the goal of transforming pediatric urgent care. Their research showed that over 90 percent of children’s emergency room visits were for injuries and illnesses that could have been treated in a non-emergency setting. PM Pediatrics offered patient-focused care in a child-friendly environment. By 2018, the company had opened 27 clinics and was logging 375,000 patient visits and $62.7 million in revenue annually.

Now, in 2018, Katz and Schor had term sheets on the table that would allow them to double down on their growth trajectory. While the term sheets came with different trade-offs, they agreed that their priority was to maintain a great deal of independence in their decision-making. Which one would they choose?