Penfund Announces US$85 million Investment in Gastro Health – Penfund
Summary
TORONTO, Ontario Penfund, an independent provider of junior capital to North American middle market companies, announced the completion of a second lien debt and equity co-investment in Gastro Health, LLC (Gastro Health or the Company). Penfund is the lead investor for a new US$90 million second lien credit facility and also invested US$10 million in equity, both of which supported the acquisition of Gastro Health by OMERS Private Equity (OPE).Headquartered in Miami, Florida, Gastro Health is the second largest gastrointestinal (GI) physician practice management platform in the United States. Gastro Health employs over 250 physicians in six states and offers a comprehensive suite of core GI procedures including colonoscopies and endoscopies along with ancillary services.We have a very longstanding relationship with OMERS and are delighted to support them again. The cohesive partnership model it has created with its physicians in Florida and other states positions the company for tremendous future success.Gastro Health is one of the leading gastroenterology platforms in the United States supporting practices in Alabama, Florida, Maryland, Ohio, Virginia, and Washington. Gastro Health strives to provide outstanding medical care and an exceptional healthcare experience.