Over the last 10 years, 342 cardiology clinics have been acquired by private equity firms. Over 94% of those acquisitions occurred between 2021 and 2023, according to research presented at the 2024 AcademyHealth Annual Research Meeting.
The private equity acquisitions happened in 20 states over the last 10 years, with Florida seeing the most acquisitions, followed by Texas and Arizona, according to a July 1 press release from the American College of Cardiology.
Between January 2013 and September 2023, private equity firms acquired 41 outpatient cardiology practices, corresponding to 342 clinic sites.
The number of clinic sites acquired per year increased from zero in 2013 to 215 in 2023, with 324 of those happening from 2021 to 2023. Sixty-four of the accounted-for clinics were acquired more than once.