Impact of Private Equity on Surgical Practice Consolidation: Analysis of 1,542 Transactions

Private equity investments have substantially impacted surgical specialties, leading to increased practice consolidation. Among 1,542 transactions involving surgical practices from 2015-2019, 539 were financed by private equity. Activity peaked in 2017 with 63 practices involved, predominantly in digestive disease, urology, and orthopedic surgery. Anesthesiology, ambulatory surgery centers, and surgical staffing firms were also affected, with medical service organizations playing a key role in facilitating private equity investment in surgical care.