Southlake-based Texas Digestive Disease Consultants found a private equity partner in Waud Capital Partners, concluding a search process that began earlier this year.
Here's what you should know:
1. Through the partnership, TDDC and Waud Capital formed The GI Alliance, a gastroenterology-facing practice management company.
2. The GI Alliance aims to be the "preeminent gastroenterology practice management company in the U.S."
3. TDDC is the first practice in The GI Alliance's first practice, but the partnership is in reaching out to multiple other practices.
4. TGIA partners will retain the option to operate independently but will be able to draw from "increased scale and expanded service lines."
5. TDDC Founder James Weber, MD, said, "Forming The GI Alliance positions us not only to continue achieving superior clinical outcomes for our patients but also to create operational efficiencies, to grow our footprint nationally with other like-minded practices, and to attract, retain and appropriately compensate top physicians."
6. Gastroenterology has been lauded as a hotbed of PE investment for several years. The first and most notable deal was in March 2016, when Miami-based Gastro Health partnered with Audax Capital.