Private equity-owned firms staff at least three of the 15 largest emergency room companies in the U.S., according to a Sept. 18 report from the Private Equity Stakeholder Project.
TeamHealth, owned by Blackstone since a 2017 leveraged buyout, staffs 552 EDs, nearly double the next-largest company. US Acute Care Solutions (294 EDs) and SCP Health (278 EDs) round out the top three, both also private equity-backed. Envision Physician Services, once owned by KKR, staffs 147 EDs and is listed as “formerly” PE-backed following its 2023 bankruptcy restructuring, which split the company into Amsurg and a standalone Envision Physician Services.
PESP estimated market-wide PE penetration by combining the ED counts from TeamHealth, US Acute Care Solutions, SCP Health, Emergency Care Partners and Sound Physicians, 1,199 EDs total, against the 4,416 U.S. EDs identified in PESP’s own hospital tracker. Assuming each ED contracts with a single staffing company, that puts PE-backed firms at 27% of the national market.
| Rank | Staffing company | EDs staffed | PE-backed? | PE owners |
| 1 | TeamHealth | 552 | Yes | Blackstone |
| 2 | US Acute Care Solutions | 294 | Yes | TowerBrook Capital, Ascension Health, Apollo Global Management |
| 3 | SCP Health | 278 | Yes | Onex |
| 4 | Vituity | 269 | No | N/A |
| 5 | HCA Healthcare | 195 | No | N/A |
| 6 | Envision Physician Services | 147 | Formerly | KKR |
| 7 | ApolloMD | 86 | No | N/A |
| 8 | Integrative Emergency Services | 69 | No | N/A |
| 9 | Concord Medical Group | 54 | No | N/A |
| 10 | Permanente Medical Group | 51 | No | N/A |
| 11 | CarePoint | 44 | No | N/A |
| 12 | Emergency Care Partners | 42 | Yes | Varsity Healthcare Partners, Regal Healthcare Capital Partners, MidOcean Partners |
| 13 | Wake Forest Emergency Providers | 35 | No | N/A |
| 14 | Avera | 33 | No | N/A |
| 15 | Sound Physicians | 33 | Yes | Summit Partners, Silversmith Capital Partners, Revelstoke Capital Partners, Athyrium Capital Management |
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