Urology Private Equity | Market Update Fall 2022 | PGP

Urology Private Equity – Market Update

Fall 2022


In the past three years consolidation within urology has shifted from nascent in nature to a pervasive force across the specialty, and it now serves as one of the most rapidly consolidating specialties in healthcare. Unlike earlier consolidation waves within dermatology, eye care, and dental, the dynamics of the urology space (large, independent group practices, deep shareholder bases, national connectivity through LUGPA) coupled with the rapid pace of activity has prevented many new private equity-backed platforms from forming. Instead of 30-40+ active platforms as we’ve seen in some other specialties, we only see eight true players in urology.

Additionally, in terms of market saturation and maturation, what took seven years to happen within dermatology and eye care has taken only three years within urology. The result of these market realities is a tightening window for independent groups to move on their own volition. Another unique component of urology consolidation is the creation of physician-led MSO models that serve as a private equity alternative. These physician-led groups have started to become a viable option for independent practices, but offer an entirely different set of pros and cons.

We expect urology consolidation to continue at a strong pace throughout 2023 despite changing economic conditions. While the opportunity to be a first mover has passed, independent groups now have the benefit of evaluating platforms with a proven track record. And while the opportunity for practices to partner with best-in-class MSOs isn’t going anywhere, ongoing, rapid consolidation will lead to continually changing dynamics that need to be considered.  

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

Recent Transaction Activity in Urology

DateTargetPlatformPE Sponsor
September 2022Urology Associates of Central Indiana *Solaris HealthLee Equity Partners
July 2022Southern Surgical & Medical SpecialistsUrology AmericaGauge Capital
June 2022Florida Urology CenterUS Urology PartnersNMS Capital
March 2022Advanced Urology InstituteSolaris HealthLee Equity Partners
January 2022New Jersey UrologySummit HealthWarburg Pincus
January 2022Urology Associates of Denver*Urology AmericaGauge Capital
January 2022West Coast UrologyUrology Partners of America (Unio)Triton Pacific
December 2021Anne Arundel UrologySolaris HealthLee Equity Partners
November 2021Colorado Springs Urological AssociatesSolaris HealthLee Equity Partners
November 2021Michigan Institute of UrologySolaris HealthLee Equity Partners
October 2021Advanced Urology AssociatesSolaris HealthLee Equity Partners
October 2021Skyline Urology GroupUrology Partners of America (Unio)Triton Pacific
May 2021Genesis HealthcareUrology Partners of America (Unio)Triton Pacific
January 2021Midlantic UrologySolaris HealthLee Equity Partners
January 2021Arizona Institute of Urology/Urologic Associates of Southern AZUnited Urology GroupAudax Private Equity
January 2021Southwest UrologyIntegrated Oncology NetworkSilver Oak Services
November 2020Associated Medical Professionals of NYUS Urology PartnersNMS Capital
October 2020Urology Austin*Urology AmericaGauge Capital
*These targets were advised by Physician Growth Partners

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 urology
  • Educational approach focused on partnership and cultural fit, while achieving a market clearing valuation

Our Recent Urology Transaction Expertise

Urology associates transaction
CSUA has partnered wih Solaris transaction
Urology associates transaction
Urology Austin has partnered with Gauge Capital

Learn More About Urology Private Equity