Tygon Peak Capital announced on December 5 the creation of a new healthcare platform with the acquisition of two internal medicine practices: Internal Medicine Associates of Plano and Doctors of Internal Medicine. Tygon Peak Capital led the investment alongside a partnership with Greyrock Capital Group.
Internal Medicine Associates of Plano operates out of two locations in the Dallas MSA. According to its website, the practice is run by 14 physicians.
Doctors of Internal Medicine provides internal medicine care for all ages out of two locations in Texas. According to its website, the practice has six physicians on staff.
Tygon Peak Capital is a New York City-based private equity firm focused on investing in lower middle market companies in North America.
Sunflower Bank provided senior debt financing for the transaction. McGuireWoods served as legal advisor and CohnReznick LLP served as accounting and tax advisor to Tygon Peak. The financial terms were not disclosed.
According to data captured in the LevinPro HC database, this transaction represents the 488th Physician Medical Groups acquisition of the year, and the 44th in the internal medicine specialty. This marks a 22% increase from the year before when 36 internal medicine transactions were reported between January 1, 2022, and December 5, 2022.
