GI Alliance announced two new acquisitions in Illinois last week. With the backing of private equity firm Waud Capital Partners, the company has expanded nationwide quickly, announcing nearly 10 transactions since early 2019, according to DSO. And GI Alliance doesn’t seem to be slowing down, even in the midst of a pandemic that is forcing other providers to hit pause on M&A transactions.
First, GI Alliance has acquired the Illinois Gastroenterology Institute (IGI). Founded in 1987, IGI serves adult patients throughout downstate Illinois, with many physicians sub-specializing in various aspects of gastroenterology. The practice has nine physicians. and its main office is on the campus of the University of Illinois College of Medicine at Peoria. The physicians also work with all three Peoria hospitals, as well as Pekin Hospital and Advocate-Eureka Hospital.
The company also acquired Central Illinois Endoscopy Center, the largest endoscopy center in Central/Southern Illinois, providing high-quality, affordable gastrointestinal care to patients over a wide catchment area. The company took majority ownership of the clinic alongside its affiliated physicians.
GI Alliance plans to expand more in Illinois following this transaction in the coming months. The company established its presence in the Midwest in July 2019 with its initial partnership with Illinois Gastroenterology Group (IGG) in the Greater Chicago Area. IGG formed in 2010 through the merger of three leading GI groups (Elgin Gastroenterology, Lake Shore Gastroenterology, and Northwest Gastroenterologists). Subsequent acquisitions made it the largest GI practice in Illinois. It is one of the 10 largest in the U.S. by physician count. At the time, the practice had over 40 physicians.
GI Alliance provides operational support to more than 350 independent gastroenterologists operating in six states. The GI Alliance was formed through WCP’s partnership with Texas Digestive Disease Consultants established in November 2018.
