Urology Practice Acquisitions by Private Equity Firms from 2011-2021
James Nie1,2, Patrick C Demkowicz1,2, Walter Hsiang3
1Department of Urology, Yale University School of Medicine, New Haven, Connecticut.
Urology Practice
|May 5, 2023
Summary
Private equity firms are increasingly acquiring urology practices, leading to significant consolidation. This trend impacts a growing percentage of urologists, particularly in certain regions.
Area of Science:
- Healthcare Management
- Urology
- Health Economics
Background:
- Private equity (PE) firm acquisitions of large urology practices in the U.S. are a recent phenomenon.
- Limited information exists regarding the scope and trends of these urology practice consolidations.
Purpose of the Study:
- To characterize the trends in urology practice consolidation driven by private equity acquisitions.
- To analyze the impact of private equity on the urology workforce and market share.
Main Methods:
- Data on urology practice acquisitions were compiled from financial databases, news, and websites (January 2011-March 2021).
- Acquisitions were categorized by acquiring entity (hospital systems, multispecialty groups, urology practices, PE platforms).
- Workforce effects were estimated using the 2019 American Urological Association workforce census.
Main Results:
- 69 independent urology practice acquisitions were identified; 29.9% were by PE-backed platforms.
- PE firms initially acquired large practices and consolidated market share by acquiring smaller ones.
- As of March 2021, 7.2% of U.S. private practice urologists were employed by PE platforms, with over 25% in NJ and MD.
Conclusions:
- Private equity acquisitions represent a dominant and accelerating trend in urology practice consolidation.
- PE firms have gained substantial market influence in specific regions.
- Further research is needed to evaluate the effects of PE investment on urological care delivery, patient outcomes, and healthcare costs.
Keywords:
economic competitionhealth care economics and organizationshealthcare financingpractice managementurologyMore Related Videos
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