Healthcare consolidation continues to reshape the physician landscape, with hospitals and large networks investing hundreds of millions of dollars to bring independent practices under their umbrellas.
Recent deals, including a $111 million acquisition in South Carolina and a $29 million radiology purchase in Maryland, highlight how long-standing physician groups are increasingly joining larger systems.
Here are four major physician group deals in the last week:
1. Pittsburgh-based UPMC has acquired Pennsylvania Gastroenterology in Camp Hill, Pa. The practice, now known as UPMC Gastroenterology Associates of Central Pa., will benefit from enhanced resources and new technologies.
2. Strategic Radiology, a national coalition of radiology practices, added a 14-physician radiology practice in Kentucky. Central Kentucky Radiology, based in Lexington, joined the coalition. With the addition, Strategic Radiology includes 49 independent practices.
3. Charleston, S.C.-based Medical University Hospital Authority, part of MUSC Health, will purchase all membership interests in Palmetto Primary Care Physicians for $111 million, effective March 3. The organization is the state’s largest independent multispecialty care practice and includes 31 physicians, 95 advanced practitioners and 40 medical practices, including physical therapy, urgent care and other specialty clinics across the Lowcountry, Midlands and Myrtle Beach.
4. RadNet has acquired Annapolis, Md.-based Chesapeake Medical Imaging for $29 million. Founded in 2001 by radiologist Mark Baganz, MD, CMI had operated independently for 25 years. The group ran 14 locations, 12 of which are now part of RadNet.
