In our new LevinPro HC Stat of the Week, we’re previewing data from our upcoming Healthcare Services Acquisition Report. In our analysis of private equity (PE) transaction data for 2025, 42% of all PE deals targeted physician groups, the largest volume of any sector. Physicians have been popular targets for PE firms for years, especially through add-on acquisitions by platforms such as MB2 Dental and Epiphany Dermatology.
eHealth companies also received a surge of attention in 2025, most notably revenue cycle management firms (30 deal announcements). With all the reimbursement upheaval and changes in 2025, it’s no surprise that revenue cycle management services are in high demand, and PE firms want to capitalize on the headwinds. Some of the largest deals in the eHealth sector were announced by PE firms, including Clearlake Capital Group’s $5.6 billion acquisition of ModMed and Patient Square Capital’s $2.6 billion takeover of publicly traded Premier, Inc.
