Q1-2019 Physician Services Update

The first quarter of 2019 was a slower start to the year relative to the volume of activity we had seen throughout the latter half of 2018. However, there were several notable and large transactions that point to continued activity across physician services. Gastro Health continued it’s expansion outside of South Florida through the acquisition of Orlando-based Gastroenterology Specialists, further expanding their presence in Central Florida. Activity within radiology remained particularly elevated, with Wellspring Capital Management’s recapitalization of Center For Diagnostic Imaging (CDIG). Previously a portfolio company of Black Diamond Capital Management, CDIG has grown to be one of the largest providers of diagnostic imaging in the United States. Within Women’s Health, Advantia Health acquired Heartland Women’s Healthcare which has a large geographic footprint throughout Missouri and Southern Illinois with 50 physicians across 25 locations. While slower than previous quarters, these large transactions set the stage for heightened merger & acquisition activity throughout the remainder of 2019. ​

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Sources: SEC Filings; Company Press Releases, and Reports; IBISWorld; Capital IQ; PitchBook; PHP Estimates and Research. This document has been compiled with publicly available information. Provident Healthcare Partners, LLC makes no guarantee of its accuracy or completeness. No data or statement should be construed to be a recommendation for the purchase, sale, or retention of any security.
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