Physicians Endoscopy Acquired by Silver Oak

CHARLOTTE, N.C. — Edgeview Partners, a CIT company, announces that Physicians Endoscopy, LLC, a developer of ambulatory surgery centers (ASCs), was acquired by Evanston, Ill.-based Silver Oak Services Partners. Edgeview Partners was retained by Physicians Endoscopy and Navigation Capital Partners to serve as the exclusive financial advisor. Financial terms were not disclosed.

“We are excited about the outcome of this process for Navigation and Physicians Endoscopy,” says John Pollock, managing director of Edgeview Partners. “Barry Tanner and his management team have a great partner for their next stage of growth, and we wish them all the best going forward.”

Barry Tanner, chief executive officer of Physicians Endoscopy, says, “Edgeview ran an efficient and intelligent marketing process that led us to an excellent partner for our next stage of growth. This transaction is a great outcome for us and will provide our company with strong financial resources and additional expertise with which to build a true market leader in this segment of the ambulatory surgery center market.”

Based in Doylestown, Pa., Physicians Endoscopy is a developer and manager of new ASCs. Physicians Endoscopy partners with locally-based gastrointestinal physicians through an innovative minority ownership model and currently operates 14 centers throughout the United States.

Physicians Endoscopy is the fourth acquisition and third portfolio investment for Silver Oak Services Partners, LLC. Securities and investment banking services were provided through CIT Capital Securities LLC, an affiliate of Edgeview Partners.

Source: CIT