MedExpress Sold to General Atlantic and Sequoia

General Atlantic and Sequoia Capital have bought MedExpress Urgent Care from Excellere Partners. Financial terms of the deal, which closed today, were not announced. General Atlantic is lead investor, a GA spokeswoman says. News of the deal was reported by peHUB yesterday. Excellere, a private investment firm, acquired a majority stake in MedExpress via a recap in 2007. Company management owned the balance. Excellere has sold its stake, a source says. MedExpress's management will continue in their positions and will continue to own a stake, says Erich Lipphardt, the company's vice president of development and marketing. One banker valued the sale at roughly $450 million.

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