Transactions + Private Equity

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…

Over an eight-year span, the number of physicians employed by hospitals nearly doubled, and that shift has come at a cost, according to a recent study. Published in July 2025 by the National Bureau of Economic Research, the study analyzed…

Jacksonville (Fla.) Orthopaedic Institute is set to lay off more than 300 employees and close six clinics following its recent buyout by Baptist Health. Here are five things to know: 1. A group of JOI physicians has signed an agreement…

Los Angeles-based Prospect Medical Holdings, a private equity-backed company with a portfolio of more than 11,000 physicians, filed for Chapter 11 protection Jan. 11. 

Around 63% of physician transactions in 2023 were attributable to a PE firm or their portfolio companies, according to VMG Health's 2024 Healthcare M&A Report published May 7.

Dental was the physician specialty with the highest deal volume in 2023, according to VMG Health's "2024 Healthcare M&A Report."

Here are three numbers that provide insights into where private equity stands in healthcare today:

The majority of physicians feel negatively about private equity's role in healthcare, according to a study published March 11 in JAMA Internal Medicine.

From 2012 to 2021, the number of physician practices owned by private equity groups jumped by more than 600%, according to a March report from Health Affairs. 

Here are six private equity transactions and updates to know that Becker's reported on in February: