Vybe Urgent Care has raised $4.9 million in an equity financing, which the Philadelphia company plans to use to fund its ongoing expansion.
The private stock sale was disclosed in documents Vybe's parent company, Philadelphia Urgent Care Management Inc. filed with the Securities and Exchange Commission.
"We plan to use the proceeds to continue our short-term expansion from eight centers to 12 by the end of January and to continue to fund the growth of the business," said Peter Hotz, Vybe's founder and CEO.
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Hotz told the Philadelphia Business Journal his company plans to open urgent care centers on Bustleton Avenue in Northeast Philadelphia and on Street Road in Bensalem in December. Locations on the 600 block of Market Street in Center City in West Philadelphia are planned for January.