News Flash: Cardinal Health to Acquire Majority Stake in GI Alliance
- Cardinal Health will acquire a 71% stake in GI Alliance from physician owners and Apollo Global Management affiliates for approximately $2.8 billion in cash
- The transaction values GI Alliance at $3.9 billion
- Cardinal Health can own GI Alliance three years after the deal closes in early 2025
- James Weber, M.D. (CEO, GI Alliance): “GI Alliance and Cardinal Health are aligned in our shared vision to build a physician-led, national specialty healthcare platform that will be the preferred choice for patients seeking dependable, high-quality specialty care.”
- James Weber, MD, is the CEO of GI Alliance. Jason Hollar is the CEO of Cardinal Health
- In August 2022, Apollo Global Management provided financing to support GI Alliance’s physician-led buyout from Waud Capital Partners ($2.2 billion valuation)
Sources:
- GI Alliance to Partner with Cardinal Health Creating a Scaled Multi-Specialty Managed-Services Platform to Benefit Physicians and Patients (2024)
- Cardinal Health expands gastroenterology, diabetes businesses with two deals worth $3.9 bln (2024)
- GI Alliance Announces Physician-Led Buyout Valuing the Company at $2.2 Billion (2022)
| PS. The following pages (80-81) from Scope Forward and page 391 (interview with Dr. Lawrence Kosinski) from The Shift discuss private equity consolidation. |
