Private equity acquisitions in healthcare saw a massive year-over-year decline in 2023, dropping an estimated 16.2%, according to PitchBook's 2023 "Healthcare Services Report," published Feb. 8.
While private equity transactions in healthcare declined overall in 2023, they were up in three industry specialties, including cardiology.
Private equity is likely taking an interest in cardiology as it continues to become the next frontier for ASCs, according to the report. In 2020, CMS added percutaneous coronary interventions to the ASC-covered procedures list, creating a growing interest.
Here are five of the biggest cardiology private equity acquisitions in 2023:
1. Chicago Pacific Founders acquired Houston-based Nathan Cardiology Associates.
2. RC Capital acquired Richmond, Va.-based AlignedCardio.
3. Canopy Capital Partners, Petra Capital Partners acquired Palm Harbor, Fla.-based American Vascular Associates.
4. Cardiovascular Associates of America (Webster Equity Partners) partnered with San Francisco-based Novocardia.
5. Lee Equity Partners acquired the Baton Rouge, La.-based Cardiovascular Institute of the South.