Private Equity Groups Continue Consolidating U.S. Physician Practices

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Intrepid’s senior bankers have advised on transactions in a wide variety of industry sectors, such as anesthesia, hospitalist medicine, radiation oncology and primary care, and are now seeing new waves of investor interest in new physician specialties, such as emergency medicine, ophthalmology and dermatology.

In the past two months alone, there has been an extraordinary pace of consolidation in eye care. Eight private equity groups have announced acquisitions of large regional ophthalmology practices, including H.I.G. Capital’s recapitalization of Southwestern Eye Center, an Intrepid client. This transaction is representative of the rapid consolidation across the physician practice management sector, which we highlight in more detail in this newsletter. We expect robust levels of M&A activity to continue, driven by cash-rich strategics and private equity firms seeking to aggressively deploy capital in this highly attractive sector.

Clearly, there are many paths to liquidity for successful physician groups across the U.S. today.

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