The U.S. physician group market is valued at $292.3 billion in 2023 and is expected to hit $397.1 billion by 2030, according to a report from Fortune Business Insights.
Here are five transactions involving physician practices and physician-owned groups to know, as reported by Becker's since Sept. 28:
1. Medical Specialists of the Palm Beaches acquired Boca Raton, Fla.-based concierge medicine practice Colton and Kaminetsky. MSPB includes 110 providers spread across more than 37 offices in Palm Beach and Broward counties in Florida. The acquisition includes three physicians and more than 1,500 patients.
2. Marlton, N.J.-based Consensus Health added five physician practices to its medical group. The newly acquired independent medical practices comprise seven physicians and five locations. The new additions increase the medical group's total practices to 58 across New Jersey.
3. Physician-owned BayCare Clinic in Green Bay, Wis., purchased more than 25 acres of undeveloped land for $3.3 million. The clinic acquired the property for future growth and development. However, there is currently no specific plan for the site.
4. Healthcare-focused private equity company Ascend Capital Partners acquired a majority stake in Seoul Medical Group, an independent physician association. Ascend will provide Seoul Medical Group with capital, infrastructure and support to empower physicians and optimize operations.
5. UnitedHealth Group expressed interest in taking a majority ownership stake in Guilford (Conn.) Surgery Center. The surgery center sold a 49 percent non-controlling interest to Surgical Care Affiliates, which is part of UnitedHealth's Optum division, in 2022. Now the surgery center is seeking permission from state regulators to sell an additional stake to SCA and UnitedHealth to give it 58 percent controlling interest. Twenty-three physicians have ownership interest in the ASC.