Memphis, Tenn.-based One GI has acquired Dayton (Ohio) Gastroenterology, the second- largest independent GI practice in the state, the Dayton Business Journal reported March 24.
Six notes:
1. One GI, backed by up to $80 million in capital through Webster Equity Partners, is a gastroenterology management services organization with practices in Tennessee, Mississippi and Ohio.
2. The acquisition will build economies of scale to help Dayton Gastroenterology expand its presence, "potentially across state lines," according to Jonathan Saxe, MD, the practice's president. The practice aims to partner with independent groups with up to eight physicians.
3. Dayton Gastroenterology had considered consolidation for about two years and felt that One GI was the best fit for its culture and growth plans. It has 10 advanced practice providers, four sites of care and three endoscopy centers.
4. The practice expects no immediate changes to its name or branding.
5. Terms of the deal were not disclosed.
6. One GI is expected to acquire the largest gastroenterology group in Louisville, Ky., by the end of March, bringing its number of physicians to about 96 across four states, according to the Journal.