Cardiology has seen rapid recent growth in the ASC space, largely driven by interest from private equity groups.
All together, PE firms acquired 50 practices across 320 locations between 2019 and 2023, according to a report published in June by Cardiacwire.
These acquisitions took place across 22 states, but Florida, Texas and Arizona saw the highest concentration of activity, with 80, 76 and 29 acquisitions, respectively.
The seven states where PE-acquired practices account for more than 10% of all cardiology centers are Rhode Island, Nevada, Louisiana, Arizona, Oklahoma, Texas and Florida, according to the report.
The last several years of cardiology practice acquisitions have been driven by Cardiovascular Associates of America and US Heart and Vascular, the two largest PE cardiology groups in the U.S.