Provides the nation's main gastroenterology (GI) administration companies group (MSO) to Cardinal Well being's specialty portfolio, supporting greater than 900 physicians in 345 workplaces in 20 states.
Southlake, Texas, Nov. 11, 2024 (GLOBE NEWSWIRE) — GI Alliance (GIA) introduced at present that it has entered right into a definitive settlement with Cardinal Well being (NYSE: CAH) by which Cardinal Well being will purchase a majority curiosity in GIA. a nationwide physician-led administration companies group that helps unbiased gastroenterology practices from a mixture of GIA doctor homeowners and funds managed by Apollo Associates (NYSE: APO). The transaction values GI Alliance at $three.9 billion.
“GI Alliance and Cardinal Well being are aligned in our shared imaginative and prescient of constructing a nationwide physician-led specialty healthcare platform that would be the most well-liked selection for sufferers looking for high-quality, dependable specialty care,” mentioned James Weber, MD, director. government. , GI Alliance. “This partnership brings collectively two like-minded organizations targeted on offering distinctive care and elevated assist to physicians in unbiased medical practices.”
GIA companions with greater than 900 physicians who look after thousands and thousands of sufferers of their unbiased medical practices in additional than 345 workplaces in 20 states. GIA helps a full continuum of gastroenterology care supplied by its member practices, with important depth in anesthesiology, pathology, infusion, radiology and medical analysis. GIA-affiliated physicians look after sufferers in 135 ambulatory surgical facilities and 165 hospital networks, supported by 95 infusion facilities.
“Our prime precedence has been strengthening and increasing our specialty enterprise,” mentioned Jason Hollar, CEO of Cardinal Well being. “By combining GIA's already scaled MSO and management in gastroenterology with our personal nationwide scale and trade experience in specialised therapeutic areas, GI Alliance and Cardinal Well being collectively create a major platform that can ship wonderful outcomes for sufferers and suppliers. “We’re excited to welcome James Weber, MD and his workforce to the Cardinal Well being household.”
“We’re extremely happy with the assist our Hybrid Worth franchise has supplied to GI Alliance in serving to the group and its physicians considerably broaden their enterprise over the previous two years,” mentioned Jason Scheir, associate and co-head of Hybrid Worth at Apollo. “We imagine GI Alliance has discovered a fantastic associate in Cardinal Well being to drive the corporate's continued progress and success.”
Barclays acted as monetary advisor to GI Alliance and its shareholders within the transaction, and Katten was its authorized advisor.