BUYER POOL ANALYSIS
Selling a Medical Practice Specialty to Strategic / Industry buyers
Industry operators, larger competitors, and corporate buyers acquiring for synergies, geographic expansion, or capability fill. Typically pays a premium for clear strategic fit but discounts for integration cost and overlap.
Quick answers
- What multiple does this buyer pool pay?
- Median EV/EBITDA 8.2x across 33 disclosed deals (P25: 5.75x, P75: 13.19x). Median EV/Revenue 1.7x across 61 deals. Median deal value: $9.4M.
- How many disclosed transactions?
- 71 deals total (71 from 2018+), filtered to Strategic / Industry acquirers of medical practice specialty businesses.
- Most active buyers
- CRH Medical Corporation (16) · WELL Health / CRH Medical Corporation (10) · DaVita, Inc. (4) · Cardinal Health (3) · Sonic Healthcare Limited (3) · Hartford HealthCare (2)
Recent disclosed deals
Strategic / Industry acquisitions of medical practice specialty businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2026 | Consulting Cardiologists | Hartford HealthCare | $3.0M | — | 0.10x |
| 2026 | Crescita Therapeutics Inc. | ClinActiv Holdings Inc. | $5.7M | 13.7x | 0.37x |
| 2026 | EyeSouth Partners' Retina Business | Cencora, Inc. | $1100.0M | 10.0x | 1.50x |
| 2025 | OneOncology | Cencora, Inc. | $7400.0M | 19.0x | — |
| 2025 | OrthoAlliance | Optum / SCA Health | $1400.0M | 23.3x | — |
| 2025 | Prism Vision | McKesson | $916.0M | 15.3x | — |
What this buyer pool prices for
Strategic buyers — operators in adjacent geographies, larger competitors, or corporate consolidators — price for synergies and capability fill. They tend to discount integration cost and overlap risk but pay above market when there's clear strategic fit (key customer relationship, license, geography, technician/professional team). Multiples are competitive with PE for fee-viable deals; below PE for sub-scale acquisitions.
Methodology note
Multiples shown are computed from disclosed M&A transactions in the ExitValue.ai database, filtered to medical practice specialty businesses acquired by strategic / industry buyers. EV/EBITDA outliers outside the [0.5x, 60x] band and EV/Revenue outliers outside [0.05x, 25x] are excluded from medians. Where available, post-2018 transactions are weighted; otherwise the all-time sample is used. Deal counts shown reflect deals with disclosed financials only — total transaction count for this buyer pool is typically 2-3x larger. Full methodology
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