PM Pediatrics

About PM Pediatrics

PM Pediatric Care operates as a specialized provider of pediatric urgent care, positioning itself as a critical intermediary between primary care pediatricians and hospital emergency departments. The company was founded in 2005 by Dr. Jeffrey Schor and Steven Katz, who were college roommates at Amherst College. Their venture stemmed from a shared disillusionment with the existing healthcare system and a recognition that a significant majority of pediatric emergency room visits were for non-critical conditions that could be treated in a specialized outpatient setting.

The founders' backgrounds were complementary for this enterprise. Dr. Schor, a board-certified pediatric emergency medicine physician, was the Director of Pediatric Emergency Medicine at a major New York hospital. Katz brought business acumen to the partnership, with a background as a healthcare consultant and an MBA from Stanford. The impetus for the business was both professional and personal; Dr. Schor observed the inefficiencies in pediatric emergency care, while Katz experienced the lack of suitable after-hours options for his own young children. They established the first PM Pediatrics location in Syosset, New York, in 2005, aiming to provide high-quality, accessible, and service-oriented acute medical care for children and young adults.

The company's business model is centered on providing urgent care specifically for patients from newborns through college age, operating 365 days a year with extended evening and weekend hours to address needs outside of typical pediatrician office hours. Revenue is generated primarily through reimbursement from accepted health insurance plans and self-pay options for patients. PM Pediatric Care has expanded its service lines beyond in-person urgent care to include telemedicine, behavioral and mental health teletherapy, and school-based health programs. The clinics are equipped similarly to an emergency department, with on-site digital X-ray and laboratory services, allowing them to treat a wide array of illnesses and injuries such as fractures, wounds requiring stitches, asthma, and dehydration. A key differentiator is their exclusive focus on pediatrics, utilizing specialists and equipment specifically designed for children, which many general urgent care centers do not provide.

Significant milestones mark the company's growth trajectory. By July 2016, PM Pediatrics had treated over one million patients across 19 locations. This growth was accelerated by private equity investments, with the company raising over $140 million in total funding. A notable $50 million funding round in 2023, led by Scopia Capital, was earmarked for network expansion and the development of new offerings like primary care and behavioral health. The company has pursued an aggressive expansion strategy, including partnerships with health systems like Children's Health in Dallas and acquisitions, such as the purchase of 10 urgent care centers in Florida in 2024, expanding its network to nearly 90 locations across 15 states.