Industry Insights

Orthopedic & Spine Surgical Practice

Insight Overview

If you own an orthopedic or spine surgical practice, you're operating in one of private equity's most closely watched physician-practice sectors. Orthopedics and spine surgery remain among PE's most attractive targets for practice consolidation, though deal activity has shifted since 2022 toward bolt-on acquisitions and operational integration rather than new platform formation.

This edition of Industry Insights breaks down what's driving that demand, how buyers evaluate an orthopedic or spine practice, and what separates a premium valuation from an average one.

Inside the analysis:

Why private equity activity in orthopedics has shifted from platform-building toward bolt-on acquisitions and recapitalizations
How ancillary services like an ambulatory surgical center, physical therapy, or imaging affect the multiple a buyer is willing to pay
What buyers look at when assessing payer mix, Medicare dependence, and subspecialty mix across joint, sports, spine, and other lines
How practice size affects where you land in the valuation range, typically higher for larger platforms with more scale, depending on specialization, a factor best assessed through a formal business valuation

Download the full industry insights report to learn more.

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