Tristela Capital Partners Acquires Pediatric Group of Acadiana
News related to:Tristela Capital Partners · 1 min read
Tristela Capital Partners, a Nashville-based independent sponsor firm, has acquired the Pediatric Group of Acadiana (PGOA) and its affiliated management services organization, Independent Physician Services (IPS). The transaction marks Tristela’s entry into the pediatric healthcare sector with the aim of expanding access to care in underserved communities in South Central Louisiana.
Founded in 1994, PGOA operates as a leading provider of pediatric primary care in the Acadiana region of Louisiana, with 14 outpatient and 3 inpatient locations. The group employs approximately 130 people and has 33 providers. IPS offers staffing and administrative support across PGOA’s network and to regional partners.
Dr. Lisa Piercey, the founder of Tristela Capital Partners, expressed enthusiasm about the acquisition. “For three decades, PGOA has been one of the largest providers of care to rural and underserved families in South Central Louisiana. We are proud to continue that legacy and expand access, grow, and sustain the business well beyond the communities they already serve.”
Dr. Jibran Atwi, the founder of PGOA, stated, “Caring for the children of Acadiana has been our family’s great privilege for many years. Knowing Dr. Piercey, a pediatrician herself, will carry this work forward gives me comfort for our patients and our employees.” Dr. Atwi will continue to see patients and serve on Tristela’s board following the transaction.
Tristela Capital Partners, known for partnering with founder-led healthcare services businesses in the lower middle market, has financed the transaction with both debt and equity from True West Capital Partners and another prominent investment firm. The legal counsel for the transaction was provided by Polsinelli, and LBMC conducted the financial due diligence.
The acquisition of PGOA and IPS by Tristela Capital Partners is expected to bolster the pediatric healthcare landscape in South Central Louisiana, addressing the needs of rural and underserved communities. Through this strategic move, Tristela aims to leverage the existing infrastructure of PGOA and IPS to enhance patient care and support the growth of the pediatric healthcare sector in the region.