GI consolidation in 2019: PE and other deals thus far


GI consolidation in 2019: PE and other deals thus far

Towards the end of 2018, we saw two back-to-back PE platform announcements: The GI Alliance (by Texas Digestive Disease Consultants) and United Digestive (by Atlanta Gastroenterology Associates). That seemed to have laid the ground for deals in 2019.
2019 was a busy year for GI consolidation. Sometimes we don’t realize the pace of activity unless we look at it all at once. Download the infographic to view GI consolidation from 2016 until end of 2019 all at once.

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Here’s the list:
February 2019: Gastro Health acquiring Gastroenterology Specialists, continuing Florida expansion efforts — 4 insights (Becker’s ASC)
April 2019: Birmingham health group acquired by Miami-based Gastro Health (Birmingham Business Journal)
May 2019: $130M private equity deal to unite 3 GI practices, create 7th largest group in US (Becker’s ASC) – * 4th PE-funded GI platform
July 2019: Illinois Gastroenterology Group joins the GI Alliance (PR Newswire) 
July 2019: Covenant partners with Arizona specialty clinics (Nashville Post) 
August 2019: Physicians Endoscopy, Capital Digestive Care team up to create management platform (Becker’s ASC) – * Alternative to PE funded platforms
September 2019: GI Alliance partners with Southeast Texas Gastroenterology Associates — 4 insights (Becker’s ASC)
September 2019: Gastro Health acquires Puget Sound Gastroenterology, a premier provider serving the Seattle area (Yahoo Finance) 
October 2019: Arizona Digestive Health joins GI Alliance (PR Newswire) 
October 2019: GI Alliance forms 2 partnerships in 5 days — Adds Texas GI partner (Becker’s ASC) 
November 2019: Indianapolis Gastroenterology and Hepatology joins GI Alliance (PR Newswire) 
November 2019: United Digestive expands in Georgia, partners with the Center for Digestive & Liver Health (Business Wire)
November 2019: GI Alliance partners with Amarillo Endoscopy Center — 3 insights (Becker’s GI & Endoscopy)
November 2019: Gastro Health establishes platform for growth in the Mid-Atlantic through acquisition of Gastroenterology Associates of Northern Virginia (Gasto Health website)
December 2019: Peak Gastroenterology acquired by Varsity Healthcare Partners — 4 insights (Becker’s GI & Endoscopy)
December 2019: GI Alliance expands into a 6th state with GastroArkansas (GI Alliance website)
December 2019: GI Alliance acquired Lubbock Digestive Disease Associates and South Plains Endoscopy Center, further expanding its presence in Texas (Becker’s GI & Endoscopy)
Expect more announcements in the coming weeks and months. My sources tell me there are at least 16-20 deals in the works.

_

By Praveen Suthrum, President & Co-Founder, NextServices. 

Our new book Private Equity in Gastroenterology – Navigating the Next Wave is still available for download. Here was the best compliment we got to date: “I need my entire board to read this!”
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