Kelso Fund IX Announces Agreement to Acquire Physicians Endoscopy
June 30, 2016
Kelso is pleased to announce that on June 30, 2016, we signed a definitive agreement to acquire Physicians Endoscopy (“PE” or the “Company”), a developer and operator of Gastroenterology ("GI") focused Ambulatory Surgery Centers ("ASCs").
Physicians Endoscopy is a developer, owner and operator of single-specialty GI ASCs. The Company has a diverse footprint of 42 ASCs nationwide, with significant density in the Northeast and Midwest. PE invests in ASCs as both a majority and minority owner alongside physician and hospital partners. PE is a well-recognized brand within the GI field and has a 20-year track record of successful, methodical de novo and acquisition development. PE has built a scalable central business operation in Jamison, PA that provides value-added, best-in-class billing and management services to partnered ASCs. The PE platform is well-positioned to capture meaningful near-term growth opportunities in the GI ASC space.