American CareSource Holdings, a leading national network of ancillary health care providers, announced today that it has entered into a definitive agreement to acquire substantially all the assets of CorrectMed of Atlanta, Ga., which includes urgent care centers in two prominent Atlanta suburbs. The definitive agreement is subject to certain customary closing conditions.

The proposed purchase includes centers in Locust Grove, a growing suburb south of Atlanta, and Decatur, a diverse and upscale community just east of Atlanta. A physician started CorrectMed in 2010. Since opening, the centers have developed a strong and loyal volume of patients seeking affordable, quality care.

The proposed acquisition marks American CareSource Holdings' initial entry into the fast-growing $14.5 billion Urgent Care Centers market.

"By acquiring the assets of CorrectMed, American CareSource can leverage its longstanding expertise at delivering quality care to benefit residents of these two vibrant communities," said Dr. Richard W. Turner, the company's Chairman and CEO.

"We see opportunities to further develop strong ties in the communities and to create a strong market presence that will result in patient volume growth. The centers have strong clinical leadership that we believe will respond positively to new corporate support, helping to further establish the centers as high-quality, patient-centric providers of affordable health care.

"In addition to urgent care, American CareSource also intends to expand patient retention through the primary care portion of the business," Turner said.

The transition announced by American CareSource is part of the major strategic move recently announced. Urgent care centers are one of the fastest-growing areas in American health care, a surge driven by the expansion of private health coverage and the corresponding shortage of primary care doctors.

According to the IBISWorld market research organization, the urgent care center market grew from $11.0 billion in 2008 to an estimated $14.5 billion in 2013. By 2018, industry revenue is projected to reach $18.8 billion.