63% of Q2 physician practice deals had private equity buyers

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Physician practice deals heated up in the first half of the year, with private equity firms driving much of the activity.

Bass Berry & Sims published a report in JDSupra, a legal analysis publication, outlining deals for the first half of 2021.

Six things to know:

1. There were 163 physician practice deals in the first six months of the year.

2. Private equity firms were the buyer in 63 percent of the second-quarter deals.

3. Most of the private equity transactions were add-ons to existing platforms.

4. Thirteen percent of the deals were in high-demand practices such as dental, gastroenterology, ophthalmology and obstetrics and gynecology.

5. Waud Capital Partners-backed GI Alliance, and RiverGlade Capital-backed U.S. Oral Surgery Management are among the most prolific private equity buyers this year, with three and five deals announced in the first half of the year, respectively.

6. Cano Health, a primary care practice operator, announced plans in June to buy Miami, Fla.-based University Health Care for $600 million in one of the highest-value deals so far this year.

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