Charlotte, N.C. private equity firm Pamlico Capital has closed a deal for Physicians Endoscopy for an undisclosed amount.
Physicians Endoscopy, headquartered in Jamison, Pa., develops, owns and manages endoscopy centers across the U.S. The company owns 29 centers and partners with physicians and hospitals to make sure they are designed, constructed, equipped and staffed.
Pamlico Capital usually makes investments between $25 and $75 million in business, technology services, communications and health care companies. The firm is currently invested in Greenway Medical Technologies, Healthcarefirst and NewWave Communications.
Private equity firm Silver Oak Services Partners LLC sold the company. Evanston, Ill.-based Silver Oak invested in Physicians Endoscopy in April 2008, and during its ownership grew the number of centers from 14 to 29. The firm has also invested in Accent Food Services, Convergent Resources and Physician Rehabilitation Network.
Piper Jaffray & Co. was financial adviser and Kirkland & Ellis LLP was legal counsel to Silver Oak.
The deal follows several others in the health care sector, including Cigna’s purchase of Alegis Care, and BioScrip Inc.’s acquisition of CarePoint Partners LLC for $223 million.