Provident Healthcare Partners Advises Austin Gastroenterology In Its Partnership With GI Alliance
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BOSTON and LOS ANGELES, March 4, 2021 /PRNewswire/ -- Austin Gastroenterology ("AG"), the largest group of physicians in Central Texas specializing in gastroenterology, has partnered with GI Alliance, one of the nation's largest independent gastroenterology services organization. GI Alliance ("GIA") is a portfolio company of Waud Capital Partners. Provident Healthcare Partners ("Provident") served as the exclusive financial advisor to Austin Gastroenterology. The terms of the transaction were not disclosed.
Harish K. Gagneja, Physician Partner for AG and current ACG Governor for Southern Texas, commented, "Austin Gastroenterology's mission always has been to provide the highest quality compassionate, accessible and affordable care to patients suffering from digestive ailments. In this ever-changing healthcare environment, when we decided to look for partners to take us to the next level, we chose Provident to help us navigate the maze and complexities of the transaction process. They listened to our needs and goals and educated a diverse group of physicians on the process, and at the end we chose a partner we are very happy with. We are thrilled that as a member of GIA, we will remain a physician-led practice and collaborate with like-minded physicians while staying true to our mission."
"I want to congratulate the entire AG team on this transformative partnership with GIA. These are two groups that have known and respected each other for a long time. Provident is proud to have represented the AG shareholders in formally bringing these organizations together, further solidifying GIA as the largest independent GI practice in the country with their partners at Waud Capital," stated Kevin Palamara, Managing Director at Provident.
Eric Major, Director at Provident, added, "With its leading national clinical reputation, AG had multiple options in terms of potential partners. GIA's growing presence in Texas and AG's dominant position in the Austin market presented an ideal partnership to grow density in the state."
About Austin GastroenterologyFounded in January 2001 through the merger of two successful regional practices, AG has grown throughout central, north, and south Austin through its 18 clinics, 3 endoscopy centers, 36 board certified physicians, and 29 Advanced Practice Providers. For additional information, visit https://www.austingastro.com/.
About GI AllianceGI Alliance is a physician-led and majority physician-owned GI services organization representing independent gastroenterologists operating in Arizona, Arkansas, Illinois, Indiana, Louisiana, Mississippi, Oklahoma, and Texas. GIA prioritizes clinical excellence while offering an exceptional patient experience. GIA provides operational support to the practices and empowers gastroenterologists to work collaboratively to improve the quality of care for patients. For additional information, visit https://gialliance.com/.
About Provident Healthcare PartnersProvident is a leading healthcare investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation for healthcare companies. The firm has a comprehensive knowledge of market sectors and specialties, including a significant track record of success within gastroenterology. Provident also has unsurpassed experience and insight into the M&A process. For additional information, visit www.providenthp.com.
Provident Healthcare Partners
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SOURCE Provident Healthcare Partners LLC
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