Private equity-backed consolidation is rapidly reshaping gastroenterology. Nearly 10% of U.S. gastroenterologists now work in PE-owned practices, and from 2019 to 2023, at least 108 GI practices were consolidated.
In 2023 alone, over a dozen GI companies expanded their footprint.
Gregory Brennan, MD, a gastroenterologist based in Mansfield, Texas, spoke with Becker’s about what he’s seeing in his region — where deals involving both primary care and specialty groups are increasingly common.
Question: How would you describe the current landscape of physician transactions in your region?
Dr. Gregory Brennan: The last one to two years in the Dallas-Fort Worth area there have been several physician transactions with both primary care and specialty groups. I have seen both the formation of large multispecialty groups and the splinting off of others. I have definitely seen a trend in more primary care and internal medicine practices joining hospital groups or changing hands. I think in general it is harder for smaller practices to keep up with consolidation and remain independent. One of the biggest specialty transactions recently was the Cardinal Health and GI alliance announcement in November 2024.
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