Kelso acquires Physicians Endoscopy — 5 key takeaways

Charlotte, N.C.-based Pamlico Capital sold Physicians Endoscopy to Kelso & Company in a recapitalization transaction with management, according to Yahoo! Finance.

Here are five key takeaways:

1. Through the deal, Pamlico will exit its investment in Physicians Endoscopy, an ambulatory surgery center management company specializing in GI services. Pamlico acquired Physicians Endoscopy in August 2013 and worked to bolster the company's acquisitive growth strategy.

2. Throughout the nation, Physicians Endoscopy owns and manages 42 facilities and is in partnership with more than 300 gastroenterologists and 18 health systems.

3. Alston & Bird advised Physicians Endoscopy and Pamlico in the deal. Skadden, Arps, Slate, Meagher & Flom and Jefferies advised Kelso in the acquisition agreement.

4. The parties did not disclose the transaction's terms.

5. For more than 35 years, Kelso & Company, headquartered in New York City, has invested in North American private equity.

"We are very grateful to the Pamlico team for all that they have done to help us grow. They have allowed us to stay focused on helping physicians deliver high-quality care in the most patient friendly and cost effective setting. Our partnership with Pamlico has been absolutely wonderful. We look forward to continued growth with our new partners at Kelso," said Barry Tanner, Physicians Endoscopy CEO.

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