Merger and acquisition activity in the physician medical group sector fell in the first quarter of 2023 to 135 publicly announced deals.
This figure is down by 14 percent from the fourth quarter of 2022 and 4 percent from the first quarter of 2022, according to data from LevinPro HC.
Disclosed spending also saw a significant decrease, with announced spending from across three deals in the first quarter totaling $106.3 million. Meanwhile, announced spending in the final quarter and first quarter of 2022 was $505.1 million and $1.5 billion, respectively.
The largest transaction so far in 2023 was Vasan Eye Care's acquisition by ASG Eye Hospitals for approximately $64.3 million.