Between 2019 and 2023, 65% of acquired physician practices were purchased by private equity. The second-most-prolific acquirers were physician medical groups, which purchased 14% of private practices, according to data from the American Hospital Association.
Health insurers, including UnitedHealthcare and its subsidiary Optum, the largest employer of physicians nationwide, acquired 11% of practices.
Here are three acquisitions of physician practices and groups in 2024, as reported by Becker's:
1. Dallas-based Steward Health Care entered into an agreement to sell its physician group, Stewardship Health, to Nashville, Tenn.-based Rural Healthcare Group, a part of private equity firm Kinderhook Industries, for $245 million, according to an Aug. 12 court filing obtained by Becker's. The deal came after UnitedHealth Group's Optum rescinded its plan to acquire Stewardship Health in late June.
2. In April, San Diego-based Ivy Fertility, backed by InTandem Capital Partners, acquired Dallas IVF, a physician practice that specializes in advanced reproductive technology, in-vitro fertilization and third-party reproduction. According to a July 16 report from law firm Bass, Berry & Sims, the Ivy Fertility network now includes 52 reproductive endocrinologists in 27 locations across nine states.
3. Integrated Oncology Network, backed by private equity firm Silver Oak Services Partners, acquired Urology Partners in Cleveland, according to the Bass, Berry & Sims report. Integrated Oncology now has more than 60 facilities across the country.