Penfund, an independent provider of junior capital to North American middle-market companies, completed a second lien debt and equity co-investment in Gastro Health. More specifically, Penfund is the lead investor for a $90 million second lien credit facility and it also invested $10 million in equity, both of which supported the acquisition of Gastro Health by OMERS Private Equity.
Headquartered in Miami, Gastro Health is a gastrointestinal physician practice management platform. Gastro Health employs more than 250 physicians in six states and offers a suite of core gastrointestinal procedures, including colonoscopies and endoscopies, along with ancillary services.
“We have a very longstanding relationship with OMERS and are delighted to support them again. We are excited to partner with Gastro Health as they execute their growth strategy,” Jeremy Thompson, a partner at Penfund, said.
“We are impressed with the platform the Gastro Health team has built. The cohesive partnership model it has created with its physicians in Florida and other states positions the company for tremendous future success,” Adam Breslin, a partner at Penfund, said.
