Gastro Health secures $90M investment

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Penfund, a Toronto-based fund management company, has completed a second lien debt and equity co-investment in Miami-based Gastro Health.

The company is the lead investor in a $90 million second lien credit facility and also injected $10 million in equity, which supported Omers Private Equity's acquisition of Gastro Health in the second quarter.

Gastro Health is the second-largest gastrointestinal physician practice management platform in the country, employing more than 250 physicians in Alabama, Florida, Maryland, Ohio, Virginia and Washington.

The platform also offers an array of gastrointestinal procedures, including colonoscopies,  endoscopies and ancillary services. 

"We are impressed with the platform the Gastro Health team has built," Adam Breslin, a partner at Penfund said in a July 7 news release. "The cohesive partnership model it has created with its physicians in Florida and other states positions the company for tremendous future success."

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