Texas Digestive Disease Consultants will be teaming up with with Waud Capital Partners to from the GI Alliance, providing TDDC with greater resources to grow its gastroenterology care group into other regions of the US.
TDDC is the largest gastroenterology group in the country with 70 locations, 159 physicians, 1000 employees and 95 hospital affiliations in Texas and Louisiana, and was founded by Dr. James Weber in 1995.
“The timing is right for this partnership,” said Dr. Weber, CEO of TGIA and President of TDDC. “The healthcare industry is changing at a breakneck pace. Government and payer requirements are increasingly complex, and equipment and materials costs continue to rise. Hospitals and payers are consolidating. Meanwhile, independent GI practices remain largely fragmented, and many are ill- equipped to weather the industry change.”
Waud Capital Partners are a Chicago-based private equity firm with $2.1 billion in capital commitments since it was founded in 1993. The group focuses on healthcare services and business and technology services and has completed 240 total investments.
“We are highly enthusiastic about this partnership,” said David Neighbours, Partner at WCP via release. “Dr. Weber has impressed us with his industry-defining leadership and with TDDC’s track record of clinical excellence and patient satisfaction. We look forward to supporting the continued fulfillment of Dr. Weber’s vision into the future through The GI Alliance.”