Here are five of the most interesting acquisitions in gastroenterology this year:
1. In January, Pinnacle GI Partners teamed up with Michigan Gastroenterology Institute and Capitol Colorectal Surgery, a little more than a month after Pinnacle GI's formation. Lansing, Mich.-based Michigan Gastroenterology Institute was formed in 1988. The practice's team of gastroenterologists and advanced practice providers staff 12 facilities in Lansing. The partnership made Pinnacle GI Partners the largest provider of gastroenterology services in Michigan.
2. Physician-owned, West Palm Beach, Fla.-based Gastro Group of the Palm Beaches joined Tampa (Fla.) General Hospital in January. The group rebranded as Tampa General Hospital Gastro Group of the Palm Beaches. The Gastro Group of the Palm Beaches had five gastroenterologists and was formed 40 years ago.
3. Memphis, Tenn.-based One GI acquired Tupelo, Miss.-based Digestive Health Specialists, its second acquisition in four days, the platform announced in March. Formed in 1999, Digestive Health Specialists was the largest independent gastroenterology provider in Tupelo. The practice had 10 physicians and four advanced practice providers. One GI also expanded into Ohio when it acquired Dayton (Ohio) Gastroenterology four days prior to the Digestive Health Specialist deal.
4. In May, Miami-based Gastro Health was sold to private equity company Omers. The company previously was owned by Audax Private Equity, which acquired Gastro Health in 2016. While precise financial details of the transaction were not disclosed, PE Hub released a report in February that speculated Gastro Health was worth $65 million in EBITDA.
5. Capital Digestive Care finalized a deal with Suffolk, Va.-based Gastrointestinal & Liver Specialists of Tidewater in September. A major element of the deal was leveraging PE GI Solutions, a physician-oriented management services organization. Gastrointestinal & Liver Specialists of Tidewater will have access to Capital Digestive's systems, IT capabilities and resources — including infusion and GI laboratory services.