Q4 2023 Other Physician Services Update
Q4 2023 Other Physician Services Update
The broader physician services industry continued to see strong and consistent transaction activity through the final quarter of 2023 across several sub-sectors in the space, primarily driven by strategic acquirers including both PE-backed strategics and larger health system. Notably, anesthesia, radiology, and urology had multiple transaction closings in the quarter.
With the ongoing consolidation trend, Provident expects add-on activity to remain active while platform transaction activity is expected to rebound in 2024 as sponsors have waited for credit markets to stabilize before pursuing secondary transactions or closing new platform investments.
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