< BACK TO SCREENER
GI Alliance
activeGastroenterology — Apollo (current) / Waud Capital (former)
Deal Terms
Entry Year2019
Entry EV$2.2B
Entry Multiple12x
Leverage5x
Debt Amount$1.1B
Risk Metrics
LTV (est.)50%
Debt / EV0.50x
Notes
Largest GI physician platform. 700 gastroenterologists. Waud Capital built it, Apollo invested $785M (2022) at $2.2B valuation. Cardinal Health acquiring 71% for $2.8B (2024). Physician-led buyout model: doctors retain majority ownership but PE provides growth capital. GI is PE's newest physician roll-up target — high reimbursement, aging population, colonoscopy demand.