Apollo completed the acquisition of a 30% stake in GI Alliance from Waud Capital for $660m.

Apollo, an investment firm, completed the acquisition of a 30% stake in GI Alliance, a gastroenterology practice provider, from Waud Capital, a private equity company, for $660m. "As a patient-first, physician-led organization that prides itself on delivering superior care, GI Alliance plays a critical role in improving outcomes for patients nationally. With this transaction, our gastroenterologists will increase their ownership in a Company that they help to build each day, while benefitting from the Apollo Hybrid Value team’s strategic advice and capital as a long-term financing partner. We are incredibly excited about this next chapter, and we want to thank the WCP team for their many contributions to our success to date," Jim Weber, GI Alliance CEO.