$45B worth of physician group acquisitions since 2019

Here are 10 of the biggest-budget acquisitions of physician groups, totaling approximately $45.3 billion, as reported by Becker's since 2019:

Editor's note: Transactions are listed by valuation.

1. CVS Health in 2023 acquired primary care company Oak Street Health for $10.6 billion. The deal gave CVS access to the Chicago-based health system's value-based primary care network with more than 160 clinics in 21 states, and CVS expects to have more than 300 locations by 2026. 

2. In 2023, CVS Health completed its $8 billion acquisition of Signify Health, adding more than 10,000 clinicians. CVS moved to acquire Signify in September 2022 after a bidding war for the Dallas-based health system.

3. Humana fully integrated home healthcare provider Kindred at Home into its health services arm, CenterWell, in a $5.7 billion deal in 2021.

4. In 2022, Optum acquired home healthcare business LHC Group for around $5.4 billion. Lafayette, La.-based LHC Group offers in-home health and hospice care from 964 locations in 37 states.  

5. Optum in 2019 acquired DaVita Medical Group in a deal valued at more than $4.3 billion after facing two years of opposition from the Federal Trade Commission.

6. In 2023, Amazon completed its $3.9 billion acquisition of virtual and in-person primary care company One Medical. The acquisition gave Amazon access to more than 200 brick-and-mortar physicians offices, along with roughly 815,000 One Medical members.

7. In 2023, Optum merged with Amedisys, a home health and hospice provider, in a deal valued at $3.26 billion.

8. Optum acquired Houston-based Kelsey-Seybold for around $2 billion in 2022. Kelsey-Seybold is a multispecialty physician group with cancer and women's health centers, two ASCs and a sleep center.

9. ASC chain United Surgical Partners International acquired more than 90 ASCs from SurgCenter Development for approximately $1.2 billion in 2021.

10. In 2021, Miami-based Gastro Health was sold to private equity company Omers. The enterprise value was estimated around $950 million. The company was previously owned by Audax Private Equity, which acquired Gastro Health in 2016.

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