GIA-affiliated doctors operate in 135 ambulatory surgical centres and 165 hospital networks, with the support of 95 infusion centres. Credit: Volha_R/Shutterstock.

GI Alliance (GIA), a management services organisation for independent gastroenterology practices, has signed a definitive agreement to sell a majority stake to Cardinal Health.

Cardinal Health will acquire the stake from a combination of GIA’s physician owners and funds overseen by Apollo affiliates.

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The transaction, valuing GIA at $3.9bn, will unite two organisations committed to enhancing support for physicians in independent medical practices and create a scaled multi-speciality managed services platform.

GI Alliance CEO James Weber said: “GI Alliance and Cardinal Health are aligned in our shared vision to build a physician-led, national speciality healthcare platform that will be the preferred choice for patients seeking dependable, high-quality speciality care.

“This partnership brings together two like-minded organisations focused on delivering exceptional care and enhanced support for physicians in independent medical practices.”

GIA, which partners with over 900 physicians, offers a range of gastroenterology care through its member practices.

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This includes services in anaesthesiology, pathology, infusion, radiology, and clinical research.

GIA-affiliated doctors operate in 135 ambulatory surgical centres and 165 hospital networks, with the support of 95 infusion centres.

Cardinal Health CEO Jason Hollar said: “Reinforcing and expanding our speciality business has been our top priority.

“By combining GIA’s already-scaled MSO and leadership in gastroenterology with our own national scale and industry experience across speciality therapeutic areas, GI Alliance and Cardinal Health together create a meaningful platform that will deliver great results for patients and providers. We are excited to welcome James Weber and his team to the Cardinal Health family.”

The deal, advised financially by Barclays for GIA and its shareholders, with Katten providing legal counsel, is pending customary closing conditions and regulatory approvals.

Apollo Hybrid Value partner and co-head Jason Scheir said: “We are incredibly proud of the support our Hybrid Value franchise has provided GI Alliance to help the organisation and its physicians significantly expand their business over the past two years.

“We believe GI Alliance has found a great partner in Cardinal Health to propel the company’s continued growth and success.”