Cincinnati Children’s Hospital Medical Center announced on August 11 that it will acquire West Chester Pediatrics for an undisclosed amount. The acquisition will take effect on October 24, 2022.
Founded in 1992, West Chester Pediatrics has one location in West Chester, Ohio, a suburb of Cincinnati. It provides a variety of pediatric services from vaccines to regular checkups. Through its two physicians, it serves more than 2,000 patients.
Cincinnati Children’s Hospital Medical Center, a nonprofit academic medical center established in 1883, is one of the oldest pediatric hospitals in the U.S. With more than 650 inpatient pediatric beds, it has 26 locations that serve the Cincinnati MSA as well as northern Kentucky.
According to the LevinPro HC database, this is the second pediatric medical practice acquisition since we began tracking pediatric clinics. The other acquisition was Cincinnati Children’s Hospital buying River Hills Pediatrics in November 2021 for an undisclosed price.
This transaction marks the 355th Physicians Medical Group (PMG) acquisition of the year, representing a 35% increase from the same time frame in 2021 that saw 263 PMG deals. In 2022, 240 (or 68%) of the PMG deals have been done by private equity firms and/or their portfolio companies. The PMG subsectors with the most M&A activity this year are dental (102 deals, 29% of the PMG market); ophthalmology/optometry (57, 16%) and dermatology (24 deals, 7%). More information about PMG M&A activity can be found online at LevinPro HC.
