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MinuteClinic Raises $15M for National Expansion

MINNEAPOLIS-The money will allow the firm to expand beyond the Twin Cities and Baltimore into several other metropolitan markets. The company also opened in three Target locations in the Twin Cities last month, giving it 14 here.

By Jim McCartney | Updated on September 15, 2004

MINNEAPOLIS-MinuteClinic has raised $15 million to finance a national expansion of its walk-in healthcare clinics found mostly in grocery and discount stores. The funding will allow the company to enter several other metropolitan areas besides the Twin cities and Baltimore, where it is now.

Boston-based Bain Capital Ventures was the lead investor during this round of financing. MinuteClinic recently opened three healthcare centers in suburban Baltimore Target stores and will be opening five additional offices in Baltimore-area Target stores during the month of September. The company also opened in three new Target locations in the Twin Cities last month, bringing its total to 14 there, including six Target stores, five Cub Foods stores, one office park and two corporate campuses.

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