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March 31, 2023

Insignis Partners Announces the Sale of Upstate Healthcare Holdings, LLC dba American Family Care to Bon Secours Health System

Greenville, SC – March 23, 2023 – Insignis Partners (“I.P.”), a multifaceted alternative investment firm with $650 million of assets under management, announced today that one of its affiliates has successfully completed the sale of Upstate Healthcare Holdings, LLC dba American Family Care Franchisee (“AFC” or the “Company”), one of the largest providers of urgent care and accessible primary care in the nation. The purchaser is Bon Secours Health System, a leading player in the South Carolina healthcare marketplace.

Paul Sparks, Managing Partner at Insignis Partners said, “It has been a privilege to support Upstate Healthcare Holdings for the past six years. Alongside Tim and Lisa Groves’ management team, we enhanced the Company’s leading market position in South Carolina and executed several growth and cost-efficiency projects. We are confident that AFC is ready to enter into its next phase of growth and partnering with Bon Secours will certainly allow AFC to deliver medical care in a way that meets the needs of their patients’ on-demand lifestyles”.

About Insignis Partners:
Insignis Partners is a multifaceted investment and real estate development firm headquartered in Greenville, South Carolina. The partners have executed over $5 billion in real estate transactions, and have over 50 years of combined investment experience. With a portfolio of properties in excess of 4 million square feet invested in over 20 operating companies, creating over 500 jobs in the combined 50 years of experience, Insignis Partners is focused on strategic investments in consumer-driven operating companies, primarily the healthcare, packaging, and foodservice based sectors. Together, the partners aim to stimulate local economies with sustainable growth in communities for years to come.

About American Family Care:
Founded by Dr. Bruce Irwin with a single location in 1982, American Family Care pioneered convenient, patient-centric healthcare. Today, with more than 300 clinics and 1,500 in-network providers caring for over 6 million patients a year, AFC is the nation’s leading provider of urgent care, accessible primary care, and occupational medicine. Ranked by Inc. magazine as one of the fastest-growing companies in the United States, AFC’s stated mission is to provide the best healthcare possible, in a kind and caring environment while respecting the rights of all patients, in an economical manner, at times and locations convenient to the patient. For more information, visit AmericanFamilyCare.com.

About Bon Secours – Greenville:
Bon Secours St. Francis is part of Bon Secours Mercy Health, one of the 20 largest health systems in the United States and the fifth-largest Catholic health system in the country. The ministry’s quality, compassionate care is provided by more than 60,000 associates serving communities in Florida, Kentucky, Maryland, New York, Ohio, South Carolina, and Virginia, as well as throughout Ireland. Bon Secours St. Francis provides compassionate medical care to thousands of area residents through Bon Secours St. Francis Downtown and Bon Secours St. Francis Eastside, as well as a network of primary and specialty care practices, and ambulatory care sites across the Greenville region. Consistent with its commitment to serve each patient with dignity, BSMH provided more than $600 million in community investments across five states in 2021, ensuring that cost is not a barrier to health care for our patients. In addition to charity care, BSMH invests in programs that address chronic illness, affordable housing, access to healthy food, education and wellness programs, transportation, workforce development and other social determinants of health that directly affect the communities we serve. The mission of Bon Secours St. Francis is to extend the compassionate ministry of Jesus by improving the health and well-being of our communities and bringing good help to those in need, especially people who are poor, dying, and underserved. For more information, visit BonSecours.com.

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