Apollo Global Management Inc. has agreed to take a stake in GI Alliance, the biggest gastroenterology practice in the US, as part of a physician-led buyout that values the company at $2.2 billion, Bloomberg reports.
GI Alliance’s physician owners have agreed to buy back a minority equity stake of roughly 30% from Waud Capital Partners. Apollo-managed funds from its hybrid value business are leading the investment. The private equity firm will also get two seats on the company’s board. Read more.
