Audax Private Equity could sell Miami-based Gastro Health in 2021 after nearly five years of ownership, according to a PE Hub report. Becker’s ASC Review spoke with Eric Major, director at Provident, and Praveen Suthrum, president of NextServices, a healthcare management company, about what a potential deal could look like, who the platform could sell to and what the ramifications of such a deal would mean to the industry.
US Digestive Health, a management services organization created to expand access to high-quality, low-cost gastroenterology care, announced today that it has closed partnerships with four Pennsylvania gastroenterology practices: Pottstown Ambulatory Center in Pottstown, Brandywine Valley Endoscopy in Downingtown, The Center for GI Health in Sellersville, and Hillmont Gastroenterology in Flourtown. Including these new partnerships, US Digestive Health now oversees a network of gastroenterology providers and services with 26 locations, 13 ambulatory surgery centers, 92 physicians, 36 advanced practice providers, and more than 700 total employees.
Pinnacle GI Partners has deepened its roots in Michigan, partnering with East Lansing, Mich.-based Digestive Health Institute, PE Hub reported. Digestive Health Institute also does business as Michigan Gastroenterology Institute, Capitol Colorectal Surgery and Greater Lansing Anesthesia Services. Pinnacle GI Partners, the largest GI provider in Michigan, now has a network of 24 physicians and 20 locations in the state.
Physicians Endoscopy and Ambulatory Center for Endoscopy, LLC (ACE), in partnership with Holy Name Medical Center, are pleased to announce the acquisition of Hudson Bergen Endo Surgical Center (formerly Hudson Bergen Medical Center). Hudson Bergen Endo Surgical Center will formally become a second location for the existing Ambulatory Center for Endoscopy, LLC. This facility accommodates both patients requiring GI care as well as those requiring general surgical procedures, and the partnering physicians are expected to perform over 4,000 procedures annually.
CRH Medical Corporation (“CRH”, or the “Company”) (TSX: CRH) (NYSE MKT: CRHM), announces that it completed an accretive transaction whereby the Company has acquired Oak Tree Anesthesia Associates, LLC (“Oak Tree”), a gastroenterology anesthesia practice located in Edison, New Jersey. Oak Tree represents the Company’s 32nd acquisition, and provides anesthesia services to a single ambulatory surgery center located in New Jersey.
CRH Medical Corporation (TSX: CRH) (NYSE: CRHM) (“CRH” or the “Company”) today announced that it has signed a definitive agreement (the “Acquisition Agreement”) with Well Health Technologies Corp. (“WELL Health” or “WELL”), pursuant to which WELL Health will acquire all of the issued and outstanding shares of CRH for US$4.00 per share, representing an aggregate purchase price of approximately US$292.7 million (the “Acquisition”) and a transaction value of approximately US$369.2 million inclusive of credit facility. CRH Medical Corporation is a North American company focused on providing gastroenterologists throughout the United States with innovative services and products for the treatment of gastrointestinal diseases.
Activity in the gastroenterology physician practice management arena looks poised to pick up this year, with Audax Private Equity gearing up for a sale of Gastro Health, according to sources familiar with the matter. A sale process is anticipated to kick off this quarter, the people said.
Gastro Health, LLC has acquired the practice of Caren Bennett, MD, a gastroenterologist located in Hollywood, FL., and expands its presence in the Fort Lauderdale area. Dr. Bennett has over 30 years of experience and specializes in esophageal and gastrointestinal disorders. Her practice is affiliated with Memorial Regional Hospital and Broward Specialty Surgery Center.
Despite growing at a slower pace than other private equity-backed gastroenterology platforms, Atlanta-based United Digestive is focused on growing its infrastructure to capitalize on future investment. Mark Gilreath, CEO of United Digestive, and Neal C. Patel, MD, chief strategy officer of United Digestive, discussed the platform and its future prospects with Becker’s ASC Review.
Investing firm Assured Healthcare Partners and West Long Branch, N.J.-based Allied Digestive Health struck a deal Jan. 13. Matt Jameson, managing director of Assured Healthcare Partners, and Bob Gialanella, MD, president and CEO of Allied Digestive Health, elaborated on the deal and offered insights into the platform’s future.
What We Do
Who We Are
How We Work
Who We Help
Get In Touch
Connect With Us
Subscribe to Our Daily Note
We publish a Daily Note that aggregates M&A activity, notable developments, regulatory changes, and conferences we deem to be of interest to our partners. It is a quick afternoon read and an easy way to keep your finger on the pulse of the healthcare space. Please fill in your name and email address below if you wish to subscribe.