Specialty Networks plans to bring its suite of real-world data, technology, and technology-enabled solutions to Gastrologix members, helping drive positive patient outcomes and create clinical and economic value for independent GI practices and industry partners.
CLEVELAND, Nov. 4, 2022 /PRNewswire/ — Specialty Networks, LLC, a portfolio company of Linden Capital Partners, announced today the acquisition of Gastrologix, LLC. Founded in 2017, Gastrologix is a GI-specific GPO with more than 470 independent physician practice locations and 2,300 providers in its network.
“Our shared mission to help improve patient care by strengthening independent GI practices makes this acquisition a great fit for Specialty Networks,” said David Coury, Executive Chairman of Specialty Networks. “The acquisition of Gastrologix allows Specialty Networks to help GI physicians deliver exceptional patient care, remain independent, and provide a valuable alternative to the more expensive care provided in the acute setting.”
“Independent GI physician practices play a key role in delivering critical care to millions of patients who suffer daily from various chronic conditions, and our goal is to support all those hard-working providers and care team members in driving positive patient outcomes by leveraging technology and real-world data-driven solutions,” said Shailendra Sharma, CEO of Specialty Networks. “I am excited to welcome Gastrologix member practices and industry partners to the Specialty Networks community and look forward to joining hands in making a huge impact on many patients’ lives.”
Specialty Networks drives clinical and economic value for independent specialty physician practices through technology and technology-enabled solutions, which Gastrologix members and industry partners will now have access to. Through Specialty Networks’ proprietary patient identification, engagement, and retention technology platform, GI patients will benefit from guidelines-driven therapeutic, diagnostic, and follow-up care pathways and workflows. Specialty Networks Research will further facilitate clinical research in bringing breakthrough therapies to market faster and more effectively and safely through clinical trials, real-world evidence studies, and disease-specific registry solutions. In addition, Specialty Networks will help Gastrologix members achieve operational and economic excellence through various ancillary solutions including but not limited to GPO services, infusion optimization and in-office dispensing support, chronic care management, clinical education, etc.
“Having spent the last 15 years in independent GI as a practice operator, I have never been more enthusiastic for the future of this specialty and for the explosion in data and analytics that will drive meaningful change for all involved,” said Kevin Harlen, President of GastroGPO.
“The innovative and meaningful solutions provided by Specialty Networks allow independent GI practices to improve patient outcomes, drive ancillary revenues, operate more efficiently, and lower costs. This fantastic opportunity will help practices across the nation advance the standard of care for their patients,” said Steve Somers and Chris Metz, Principals, Gastrologix.
Haverford Healthcare Advisors served as M&A advisor, and Saxton & Stump served as legal advisor to Gastrologix. Katten Muchin Rosenman, LLC served as legal advisor to Specialty Networks.
About Specialty Networks, LLC
Specialty Networks (“SN”) is an integrated, multi-specialty platform with GPOs (Group Purchasing Organizations), Life Sciences, and Research solutions in gastroenterology, urology, and rheumatology. SN solutions include patient population health management, patient engagement, clinical research, and workflow automation technologies to achieve Center of Excellence in Standards of Care, Clinical Research, Practice Operations, and Value-based Care. SN leverages the power of its network, represented by over 11,000 providers, to help independent physician practices, industry, wholesalers/distributors, payers, and policymakers improve patient outcomes. Learn more about Specialty Networks at www.specialtynetworks.com.
Specialty Networks is a portfolio company of Linden Capital Partners, a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country’s largest dedicated healthcare private equity firms. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested in over 40 healthcare companies encompassing over 200 total transactions. The firm has raised over $6.5 billion in limited partner commitments since inception. For more information, please visit www.lindenllc.com.
Contact: Christy Javers
SOURCE Specialty Networks