Top Physician Medical Group Deals of 2023
The Physician Medical Group (PMG) market experienced a decline in deal activity, totaling 515 transactions, compared to the 621 in 2022. The transactions varied in size and buyer time, with many of them small or independent practices getting purchased by large private equity groups. Here are the top five PMG transactions of the year. TPG Capital and AmerisourceBergen, both private equity groups, teamed up to purchase OneOncology, Inc. for $2.1 billion in April. In addition to being the largest PMG purchase price of the year, OneOncology has more than 700 physicians on staff which is an impressive number, adding to its attractiveness for buyers. The seller, private equity... Read More »
U.S. Oral Surgery Management Expands in Seven States
U.S. Oral Surgery Management (USOSM) is ending 2023 with a big announcement. It has added eight new partnerships across seven states: California, Colorado, Oregon, Michigan, Mississippi, South Carolina and Texas. “In 2023, we launched our USOSM Centers of Excellence program, we implemented the USOSM Medical Mission Reimbursement Program, we secured a new $150 million credit expansion, welcomed 21 new associates and we added 25 new partner practices – eight of which, we’re announcing today,” said USOSM President and CEO Richard Hall. “We’re finishing 2023 strong and are positioned for continued growth in 2024 and beyond.” Hall continued on to say that a driving factor... Read More »
Schweiger Dermatology Group Acquires Two New Jersey Practices
NavaDerm Partners, LLC, a portfolio company of BelHealth Investment Partners, LLC announced that it was selling two of its New Jersey practices to Schweiger Dermatology Group (SDG). The practices are Millburn Laser Center and Scherl Dermatology. Millburn Laser Center provides dermatology care out of one location in New Jersey. According to its website, the practice has five providers on staff. Scherl Dermatology is a four-physician practice that operates out of one location in Englewood Cliffs, New Jersey. Founded in 2010, SDG is the largest group dermatology practice in the Northeast, with more than 90 offices and more than 300 healthcare providers in its... Read More »
HCRG Care Group Acquires Operose Health
On December 13, it was announced that Centene Cooperation was selling Operose Health to HCRG Care Group for an undisclosed price. Operose Health is a network of nearly 60 primary care practices across the United Kingdom. The company has been a significant player in the NHS primary care market, providing essential healthcare services to numerous patients. Previously known as Virgin Care, HCRG Care Group is one of the United Kingdom’s largest providers of community health and care services. It partners with the NHS to provide primary and dermatological care as well as pathway and diagnostic services. The deal is expected to impact the operational landscape of... Read More »
Navigating Year Over Year Trends of the Physician Medical Group M&A Market
The Physician Medical Groups (PMG) market is an industry that we frequently analyze, and for good reason. Coupled with its high deal volume, the sector is brimming with changing trends such as the growth in the cardiology space or how the size of the practices being purchased has changed over time. According to the LevinPro HC database, between January 1, 2023, and November 30, 2023, there were 2,001 healthcare transactions reported, 478 of them in the PMG sector, accounting for approximately 24% of deals. PMGs represent the second largest healthcare sector, with Other Services, a catch-all for ancillary services and companies at 502 transactions. Source: LevinPro HC, December 2023 The... Read More »Schedule a demo
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