Private equity investors are building multi-site platforms out of fragmented urology, ophthalmology, behavioral health, and aesthetic and med spa practices, according to national law firm Dykema’s 2026 M&A Outlook Survey report.
The trend material itself is on a separate healthcare page, so you could also link “healthcare section” in the second paragraph to it:
The report’s healthcare section ties investor interest in those specialties to recurring revenue, high-margin procedures and continued market fragmentation. Occupational health and other business-to-business service lines are drawing similar attention because they open employer and payer channels for buyers.
Urology consolidation is already well underway. The Urology Alliance has grown to about 750 physicians following Cardinal Health’s $1.9 billion acquisition of Solaris Health, Becker’s reported in September. In ophthalmology, McKesson-owned PRISM Vision is set to acquire Spectrum Vision Partners, a network of more than 50 practices and more than five ASCs.
Dykema also flagged rising state oversight. A growing number of states now require parties to file notice of a healthcare transaction and obtain clearance before closing.
Buyers are pressure-testing technology claims as well. In care delivery, AI is producing efficiencies in diagnostics, scheduling and revenue cycle management. Diligence teams want evidence of measurable productivity gains, not software layered onto an unchanged care model.
Consumer-led categories are attracting capital, too, including women’s health, metabolic and weight-management care, prevention, and home-based and post-acute care. Sellers that show standardized operations, clean financials and a clear path to scale will command strong valuations, according to the report. R. Craig Woods and Dean Gould, co-leaders of Dykema’s healthcare M&A practice group, are listed on the healthcare section.
Healthcare and life sciences ranked third among industries expected to see the most M&A activity, cited by 30% of respondents, behind data centers and technology. Dykema fielded its 22nd annual survey in August and September to executives, private equity professionals, bankers and other dealmakers.
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