H.I.G. Capital News
H.I.G. Growth Partners
500 Boylston Street
Boston, MA 02116
Michigan Gastroenterology Institute and Capitol Colorectal Surgery Partners Join H.I.G. Growth Partners Portfolio Company, Pinnacle GI Partners
BOSTON – January 14, 2021 – H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, is pleased to announce that its portfolio company, Pinnacle GI Partners (“Pinnacle GI”), a premier gastrointestinal services organization, has partnered with Lansing, Michigan-based Michigan Gastroenterology Institute (“MGI”) and Capitol Colorectal Surgery (“CCS”). This partnership creates the largest provider of gastrointestinal services in Michigan, representing 40 providers, including 21 gastroenterologists, 3 colorectal surgeons, and 16 advanced practice providers.
Michigan Gastroenterology Institute was founded in 1988 and provides gastrointestinal care to communities in Mid-Michigan. In 2000, MGI partnered with Michigan State University’s gastroenterology division to improve patient care, enhance education and advance research in the area of gastroenterology. The gastroenterologists and advanced practice providers deliver excellent digestive health services through 12 facilities in the Lansing, Michigan region.
Capitol Colorectal Surgery has been serving patients in mid-Michigan for over 40 years. The surgeons at CCS are Mid-Michigan’s leading experts in colon and rectal surgery, performing laparoscopic and robotic surgery, screening and surveillance colonoscopy as well as comprehensive medical and surgical care for a variety of colorectal conditions.
“Our primary goal at MGI and CCS has been to deliver exceptional medical and surgical gastrointestinal care in combination with an outstanding patient experience,” said Dr. Scott Plaehn, President of MGI. “We have joined with Pinnacle GI Partners to expand our practice and enhance our ability to offer innovative clinical solutions that will improve the quality of care for our patients.”
“Through our partnership with MGI and CCS, we can continue to provide excellent gastrointestinal care throughout Michigan,” said Dr. Partha Nandi, President of Pinnacle GI Partners. “Our esteemed partners at MGI and CCS share our vision of preserving independent physician practices and leveraging the best practices of our organization,” Dr. Nandi added.
“We are excited to partner with the doctors, employees, shareholders, and management team of MGI and CCS,” said Mark Tricolli, Managing Director with H.I.G. “Our goal is to create the leading gastrointestinal group in Michigan with a reputation for providing high quality patient care and innovative treatments. Joining with MGI and CCS is an important step toward achieving this goal.”
Cascade Partners, LLC served as the exclusive financial adviser to MGI and CCS, with Miller, Johnson, Snell & Cummiskey, P.L.C. serving as legal advisor. McDermott, Will & Emery served as legal advisor to H.I.G. and debt financing was provided by Deerpath Capital Management, L.P.
About Pinnacle GI Partners
Pinnacle GI Partners is a gastrointestinal services organization supporting gastroenterologists and surgeons who provide excellent care in Michigan and the Midwest. By providing operational support, Pinnacle GI Partners helps its partner physicians deliver exceptional care for their patients. In addition, Pinnacle GI Partners is passionate about preserving independent gastroenterology practices, giving a united voice to gastrointestinal physicians and surgeons in the region. For more information, please visit https://pinnaclegipartners.com
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $43 billion of equity capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.