IRA Capital, a South California private equity firm, has acquired the Genesis Center for Digestive Health property in Bettendorf, according to an Aug. 3 release.
The 14,000 square-foot endoscopy center includes three operating rooms and a gastroenterology clinic with physician offices, exam rooms and procedure rooms. The building is located at 2222 53rd Ave., Bettendorf, and is the third Genesis Health center on the health care campus.
The building is currently leased to Genesis. Previously, Gastroenterology Associates occupied the center, but they merged with Genesis in June. IRA Capital acquired the property through a sale-leaseback with Genesis and the property owners.
The acquisition is another step in IRA Capital’s strategic initiative, which focuses on critical-operation health systems and centers that have large case volumes and high-margin specialties, according to a news release.
“Genesis’ recent expansion at the site acts as a strong referral source for our newly acquired property, and further demonstrates Genesis’ long-term commitment to the growing patient base in the Quad-Cities region,” Samir Patel, IRA Capital co-founder and partner, said in a release.