Q1 2024 Cardiology Update
Q1 2024 Cardiology Update
The cardiology specialty remains an active and sought after area within physician practice management. First quarter transactions consisted of four strategic acquisitions. Established platforms remain acquisitive as they look to further their regional footprints through these add-on transactions. Significant competition in the specialty from new and established groups is driving elevated multiples for premier cardiology groups.
Provident expects 2024 cardiology transaction volume to remain robust as independent groups continue to affiliate with PE-backed strategics, health systems, and financial sponsors. New platform formation is anticipated to be less prominent relative to 2023, while established platforms and other strategics are expected to remain highly acquisitive.
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