Silver Oak Services Partners, LLC announced that it has led a leveraged recapitalization of Doylestown, Pennsylvania-based Physicians Endoscopy, LLC (“PE”) in partnership with the company’s management and leading co-investors from the limited partner community.
PE is a leading developer and manager of freestanding ambulatory surgery centers (“ASCs”). PE partners with physicians, who own the majority of its partner centers, and provides a comprehensive suite of billing and management services. The company typically owns a significant minority interest in each of its partner centers, which are located throughout the U.S. with several more centers expected to open within the next twelve months.
Silver Oak and management intend to leverage PE’s substantial development experience as well as its extensive suite of management services to accelerate the company’s growth. The company has a strong market reputation and proven capabilities for navigating this expanding segment of the healthcare market. “This transaction is a great outcome for Physicians Endoscopy and will provide our company with strong financial resources and additional expertise with which to build a true market leader in this segment of the ASC market,” said PE Chief Executive Officer Barry Tanner.
“We are very excited to partner with the management team of PE and build on the company’s leading position in the ASC market. We believe the company has significant growth potential as it leverages its ASC development and management experience and capitalizes on strong industry dynamics,” said Dan Gill, Managing Partner of Silver Oak. PE is actively looking for de novo development opportunities as well as add-on investment opportunities in existing ASCs and ASC management companies.
Please contact Dan Gill of Silver Oak for additional information.
PE is the fourth acquisition and third platform investment of Silver Oak Services Partners, LLC. Silver Oak invests in business, consumer and healthcare services companies in the lower middle market, typically with revenue between $15 million to $150 million.