Nearly seven full months through the year, M&A in the Physician Medical Group (PMG) sector is on pace to post its second-highest deal volume since 2000. As of July 24, we’ve recorded 47 acquisitions, which is second only to 2011, when 56 transactions were announced in the same time period. The biggest deal in the second quarter of 2015 was MEDNAX’s (NYSE: MD) $500 million acquisition of Virtual Radiologic Corporation(aka vRad). That works out to 2.7x price/revenue, 20.0x price/EBITDA—and a whopping $1.4 million per radiologist. Keep ‘em coming.