Evanston-based Illinois Gastroenterology Group closed a private equity deal joining the GI Alliance, which created the largest independent gastroenterology services organization in the nation.
What you should know:
1. The GI Alliance now represents more than 215 physicians across three states. The Alliance features more than 140 locations.
2. Waud Capital Partners formed the GI Alliance through its investment in Southlake-based Texas Digestive Disease Consultants in November 2018.
3. IGG is the largest independent gastroenterology practice in Illinois and one of the 10 largest in the U.S.
IGG founding partner Larry Kosinski, MD, elaborated on the deal, saying: "In pursuing a partnership for growth, we had many different options. We chose GI Alliance over several attractive financial alternatives because of GIA's strategic value and strong alignment with our culture and philosophy."
4. The GI Alliance partnered with IGG's practice entity. The alliance intends to invest in IGG's ASCs and will support IGG's Midwestern growth.
5. IGG is the fifth GI group to take on a private equity investor, and the first to do so with an established platform.