Cardiology Private Equity - Physician Growth Partners

Cardiology Private Equity – Market Update

Summer 2021

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Cardiology is one of the newer sectors seeing interest from private equity. There are just six notable platforms currently active in the space. Compared to other healthcare services verticals such as dermatology, eye care, or pain management, cardiology has remained relatively untouched until recently.

The specialty is gaining traction in the private equity space as hospital employment deals expire and more procedures can be completed in physician owned facilities given macro dynamics around reducing cost. By partnering with private equity, independent practices have found attractive opportunities to gain scale, bring costly ancillaries in-house, and gain operational/management support to expand in their markets.

We believe that Cardiology is among a new wave of sector consolidation where early movers can choose from some of the best partners and get a head start in terms of consolidating regionally.

Select Recent Private Equity Transactions in the Cardiology Space

DateTargetSponsorPlatformState
July 2021First Coast Heart & VascularDeerfield ManagementNovocardiaFlorida
November 2020Cardiovascular & Arrhythmia InstituteBain CapitalNational Cardiovascular Partners and Azura Vascular CareArizona
November 2020Partners First CardiologyVarsity Healthcare PartnersPartners First CardiologyTexas
April 2019Arizona Cardiovascular Institute & the Center for Cardiovascular Research and EducationBain CapitalNational Cardiovascular PartnersArizona
April 2019Cardiovascular Consultants, LTDBain CapitalNational Cardiovascular PartnersArizona
February 2019Sunset CardiologyComvest Partners and Athyrium Capital ManagementIMC Health Medical CentersFlorida
March 2017St. Louis Cardiovascular InstituteUnitedHealthSurgical Care AffliatesMissouri
January 2014National Cardiovascular PartnersBain CapitalNational Cardiovascular PartnersTexas
UndisclosedCardiothoracic & Vascular Surgical AssociatesAshlar CapitalCardiothoracic & Vascular Surgical AssociatesFlorida

Physician Growth Partners

Physician Growth Partners is a firm that recognizes and prioritizes the importance of clinically focused outcomes, first and foremost. The groups that allow us to advise them will attest to the fact that we always emphasize partnership over economics. When the highest level of care is delivered, financial success will always follow.

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