Kohlberg & Company has completed a growth capital investment in United Digestive, according to a news release.
United Digestive, based in Atlanta, is a gastroenterology service provider with locations in Georgia, Florida, North Carolina and South Carolina. The company’s model consists of ambulatory surgery centers, ancillary services and professional services.
Kohlberg, based in Mount Kisco, N.Y., is a private equity firm that invests in healthcare services, pharmaceutical/medical products and services, and several other sectors. Founded in 1987, the firm pursues a range of investment types and seeks to invest between $100 million and $500 million in companies with an enterprise value of $200 million to $2 billion that generate $25 million to $150 million in EBITDA.
The release also noted that Frazier Healthcare Partners sold its ownership in United Digestive, which the firm formed in 2018.
Frazier, based in Seattle, is a provider of private equity capital to healthcare companies. The firm, founded in 1991, prefers to make more substantial investments from a dollars perspective and pursues a wide range of investment types, including company creation and venture capital to buyouts of profitable lower-middle market companies.
Terms of the transaction were not disclosed.