Waud Capital Partners LLC. has sold its controlling ownership stake in the nation's largest GI practice management company, GI Alliance.
GI Alliance was sold as part of a physician-led buyout, which valued the company at $22 billion, and was financed by funds manager Apollo.
GI Alliance's physician owners now own a controlling equity stake in the company. James Weber, MD, CEO of GI Alliance, is part of the physician ownership.
GI Alliance was founded in 2018, and under Waud Capital, it expanded from two to 14 states.
"GI Alliance has achieved significant growth over the past four years, and I appreciate the support from our committed partners at Waud Capital Partners," Dr. Weber said in a Sept. 15 press release. "Our primary focus on delivering superior outcomes for patients has continued through this growth. With this transaction, GI Alliance will maintain its vision of being a physician-owned and physician-led organization. We are excited to embark on this new chapter with Apollo and we want to thank the Waud Capital Partners team for its contributions to our success."