342 cardiology clinics acquired by private equity firms in 2013–2023

WEDNESDAY, July 3, 2024 (HealthDay News) — A total of 342 cardiology clinics were acquired by private equity firms between 2013 and 2023, with 94.7% of the acquisitions occurring between 2021 and 2023, according to a study published online June 30 in the journal HealthDay News. Journal of the American College of Cardiology in connection with the AcademyHealth 2024 Annual Research Meeting, held June 29-July 2 in Baltimore.

Dr. Victoria L. Bartlett of Beth Israel Deaconess Medical Center in Boston and her colleagues analyzed the number of cardiology practice acquisitions by private equity firms from January 2013 to September 2023.

The researchers found that private equity firms made 41 acquisitions of outpatient cardiology practices during the study period, representing 342 clinic locations. The number of clinic locations acquired increased per year, from 0 in 2013 to 215 in 2023; 94.7 percent of the acquisitions occurred between 2021 and 2023. Sixty-four clinic locations were acquired twice, resulting in the acquisition of 278 unique cardiology clinic locations, representing 2.9 percent of all U.S. cardiology clinics. Cardiology clinics were significantly less likely to be acquired when they were located in communities with the highest levels of poverty compared with the wealthiest communities (highest versus lowest quartile of poverty, 2.0 versus 2.9 percent; adjusted rate ratio, 0.61). The probability of acquisition was higher for clinics located in the south and west than in the northeast (4.3 and 3.8 percent versus 1.5 percent, respectively; adjusted hazard ratios of 3.17 and 2.60, respectively).

“As private equity firms continue to make acquisitions in the cardiology industry, it will be critical to monitor the impact of these acquisitions on procedure utilization, quality, and outcomes for patients with cardiovascular disease,” the authors write.

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