Private equity investment in physician practices continues to reshape the healthcare landscape, fueling consolidation across specialties from ophthalmology and orthopedics to dentistry and dermatology.
As investor interest in healthcare services remains strong, major firms are deploying billions in capital to acquire, integrate, and scale physician groups nationwide. These firms often seek to streamline operations, expand geographic reach, and enhance business infrastructure — moves that can position practices for long-term growth and competitiveness in an evolving care delivery environment.
Several prominent private equity firms have established extensive portfolios of physician practice management companies spanning multiple specialties and markets. Below is a list of leading firms along with their assets under management and notable healthcare holdings.
KKR
AUM: $215 billion (private equity)
Portfolio includes: Heartland Dental, 123Dentist, Brightline, Covenant Physician Partners, Falcon Vision
Audax Group
AUM: $42 billion
Portfolio includes: Aspen Surgical, HOPCo, Solis Mammography and United Urology
Harvest Partners
AUM: $20 billion (as of 2023)
Portfolio includes: Dental Care Alliance, Advanced Dermatology and Cosmetic Surgery
Shore Capital Partners
AUM: $13 billion ($10.6 billion in healthcare)
Portfolio includes: Eye South Partners, Brightview, Fast Pace Urgent Care Clinic, Southern Orthodontic Partners, Triumph Orthopaedics
Webster Equity Partners
AUM: $9.5 billion
Portfolio includes: Advanced Reconstructive Surgery Alliance, Healthcare Associates of Texas, One GI and US Pediatric Partners
Revelstork Capital Partners
AUM: $5.5 billion
Portfolio includes: Portfolio includes: OrthoAlliance, Sound Physicians, U.S. Renal Care and Fast Pace Health.
Chicago Pacific Founders
AUM: $5.1 billion
Portfolio includes: Ascend Vision Partners, Marquee Dental Partners, Trias Global, MyCare Medical
Waud Capital Partners
AUM: $4.6 billion
Portfolio includes: Unifeye Vision Partners, APDerm
