TDDC Partners with Waud Capital, Forms GI Alliance
The formation of GI Alliance allows TDDC and future practices that join GI Alliance to provide the best possible patient care while remaining competitive in the changing healthcare market.
SOUTHLAKE, TEXAS, November 7, 2018 — Texas Digestive Disease Consultants (TDDC), the largest gastroenterology group in the United States, announced today that it has partnered with Waud Capital Partners (WCP), a leading growth-oriented middle-market private equity firm, to form the GI Alliance. The partnership will allow TDDC to continue providing the highest-quality care to patients while establishing an organization with the resources to grow regionally and nationally.
Founded by Dr. James (“Jim”) Weber in 1995, TDDC has grown to more than 70 locations throughout Dallas, Fort Worth, Austin, San Marcos, San Antonio, Houston, Thibodaux and Baton Rouge. Its board-certified gastroenterologists, with the support of its highly trained staff, provide the full spectrum of care for patients with digestive diseases.
Since its founding, TDDC has grown to include 159 physicians, more than 1,000 employees, 73 office locations, 37 endoscopy centers, 16 infusion centers and 95 hospital affiliations. In addition, it offers an extensive suite of ancillary services, including anesthesia, pathology, specialty and retail pharmacy, radiology, GI surgical services and infusion therapy. TDDC’s Research and Education Department is also the top enroller for several clinical trials for inflammatory bowel disease (IBD) and non-alcoholic fatty liver disease (NASH).
“The timing is right for this partnership,” said Dr. Weber, CEO of GI Alliance 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.
“Our patients are at the heart of every strategic decision we make,” Dr. Weber continued. “Forming the GI Alliance positions us not only to continue achieving superior clinical outcomes for our patients but also to create operational efficiencies, to grow our footprint nationally with other like-minded practices, and to attract, retain and appropriately compensate top physicians.”
“We are highly enthusiastic about this partnership,” said David Neighbours, Partner at WCP. “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.”
The vision of the GI Alliance is to be the preeminent gastroenterology practice management company in the U.S. GI Alliance's partner practices will share common values and objectives while benefiting from increased scale and expanded service lines, but they will retain the ability to operate substantially independently from one another on a day-to-day basis. With TDDC as its first “hub” practice, GI Alliance is already in discussions with over a dozen more potential partner practices across multiple regions of the United States.
About Texas Digestive Disease Consultants
Texas Digestive Disease Consultants (TDDC) is the largest gastroenterology group in the United States with 159 board-certified physicians committed to providing high quality patient care. Founded more than 20 years ago, TDDC has grown to more than 70 locations throughout Dallas-Fort Worth, Austin, San Marcos, San Antonio, Houston and Louisiana. Board certified gastroenterologists, with the support of excellent staff, provide the full spectrum of care for patients with concerns involving the esophagus, stomach, small bowel, colon, rectum, gallbladder, pancreas and liver. TDDC’s integrated network of clinics, infusion centers, endoscopy centers, pathology lab, research department, and COPE Center for Colorectal & Pelvic Health allow us to deliver comprehensive and personalized care to patients. For more information, visit www.tddctx.com.
About Waud Capital Partners
Based in Chicago, Waud Capital Partners is a leading growth-oriented private equity firm with total capital commitments of approximately $2.1 billion since its founding in 1993. WCP partners with exceptional management teams to build market-leading companies within two industries: healthcare services and business and technology services. Since its founding, the firm has successfully completed more than 240 investments, including platform companies and follow-on opportunities. For additional information on WCP, visit www.waudcapital.com.