Cardiology Private Equity - Physician Growth Partners

Cardiology Private Equity – Market Update

Spring 2023


Cardiology consolidation remains in its infancy, but it continues to be one of the hottest sectors attracting interest from private equity. Deal activity is accelerating, with 11 active platforms in the market completing 12 add-on acquisitions since January 2022. Additionally, PGP is aware of three new Cardiology platforms that are set to announce in 2023; all of which will be backed by reputable and experienced healthcare investors with extensive physician practice management experience.

Current activity in the Cardiology sector is driven by procedures moving into the outpatient setting and fewer competitive constraints for physician sellers, predominantly due to the potential of value-based reimbursement. With the promise of improved outcomes and reduced costs, value-based reimbursement models are gaining traction with private equity.

While this momentum presents significant upside opportunity for early movers, it is critical that Cardiology groups considering a private equity transaction align with a partner who has the experience to successfully capitalize on the complex and evolving reimbursement environment. It is important to work with a partner that can navigate these changes and provide value through service line expansion, administrative support, and technology solutions. This will enable the Cardiology practice to continue providing exceptional care to its patients while achieving its long-term goals and succession plans.

Interested in how private equity can be helpful in your practice?

Recent Cardiology Transactions

April 2023American Vascular AssociatesPetra Capital & Canopy CapitalInitial Platform: American Vascular AssociatesFlorida
April 2023NovocardiaWebster Equity PartnersCardiovascular Associates of AmericaFlorida
February 2023Cardiovascular Institute of Central FloridaWebster Equity PartnersCardiovascular Associates of AmericaFlorida
February 2023Orion MedicalAres ManagementUS Heart & VascularTexas
February 2023Cardiovascular Institute of the SouthLee EquityInitial Platform: Cardiovascular LogisticsLouisiana
January 2023Colorado Cardiovascular Surgical AssociatesDuneGlass CapitalLifeFlow PartnersColorado
January 2023Oregon Vascular SpecialistsDuneGlass CapitalLifeFlow PartnersOregon
December 2022Southwest Cardiovascular AssociatesWebster Equity PartnersCardiovascular Associates of AmericaArizona
November 2022Heart & Vascular CareWebster Equity PartnersCardiovascular Associates of AmericaGeorgia
November 2022Cardiovascular Institute of New EnglandWebster Equity PartnersCardiovascular Associates of AmericaRhode Island
October 2022The Heart HouseWebster Equity PartnersCardiovascular Associates of AmericaNew Jersey
October 2022AMS CardiologyCypress Ridge CapitalInitial Platform: atria healthPennsylvania
October 2022Chicago Cardiology InstituteWebster Equity PartnersCardiovascular Associates of AmericaIllinois
August 2022Carolina Cardiology AssociatesWebster Equity PartnersCardiovascular Associates of AmericaSouth Carolina

About Physician Growth Partners

  • Physician Growth Partners (PGP) is a transaction advisory firm that represents independent physician groups working with private equity
  • We are Healthcare Transaction Advisors differentiated by:
    • Senior partner involvement at every stage of the process
    • Extensive physician practice transaction experience
    • Unmatched relationships with all key private equity and strategic buyers interested in eye care
    • Educational approach focused on partnership and cultural fit, while achieving a market clearing valuation

Relevant Physician Practice Transaction Expertise

Urology Austin has partnered with Gauge Capital
Midwest Eye Consultants Transaction
Cleveland eye clinic partnered with midwest vision

Learn More About Cardiology Private Equity