FOCUS Healthcare Team Members Close 8 Medical Practice Transactions in 18 Months

By Eric YetterPublished On: January 1, 2021

Members of the FOCUS Healthcare team announced eight completed transactions for a combined 15 clinical businesses in the last 18 months.

The FOCUS Healthcare Team is one of the most active advisors in transactions between private equity firms and medical practices. “That specialization gives us a lot of knowledge that translates into better outcomes for our clients,” said Eric Yetter, FOCUS Managing Director and Healthcare Team Leader. “Our team members have strong operating backgrounds in healthcare services including medical practices and surgery centers. We really understand these businesses.”

Private equity investment in medical practices has accelerated heavily since 2017 when Focus Healthcare Team members began a concerted effort to help physician owners as a sell-side M&A advisor. As more and more PE firms make their initial investments, they pursue “add-on” acquisitions of small and medium practices. Those deals have been increasing as well.

Most of the early activity was in dermatology and ophthalmology. Recently, PE firms have been partnering with leading groups in gastroenterology, orthopedics, ENT & allergy, and women’s health care.

“The fact that practice deals continued to happen through the COVID-19 pandemic shows how strong the investment proposition is,” said Andy Snyder, Managing Director. “Now at the beginning of 2021, many deals are in the works and new investors are looking to get in. We don’t think valuations have suffered, so it is a great time for physicians to look at a deal.”

The FOCUS Healthcare Team has been expanding their services to new groups of clinical business clients as investor interest in the area grows. “We continue to refine and build out our process as this industry matures. It will be great to pass on those benefits to our new clients.”

To learn more about our healthcare investment banking services or to discuss your specific situation with no obligation please feel free to call. We are happy to share our knowledge and help you understand your options. All conversations are strictly confidential.

Eric Yetter

FOCUS Managing Director and Healthcare Team Leader

Direct: 615-477-4741

Eric Yetter is an investment banker focused on healthcare. His practice includes healthcare provider services, home health and hospice, and behavioral health. Mr. Yetter has completed a variety of healthcare transactions, many with private equity firms and PE-backed companies. His past clients include leading physician groups, healthcare facilities, and institutional healthcare investors. Mr. Yetter founded Physicians First in 2016, recognizing the emerging need for investment banking and advisory services for owners of physician practices, surgery centers and clinical businesses. The next four years saw record levels of physician-owner M&A activity and Physicians First became one of the nation’s most active advisors for transactions between private equity firms and medical practices. In 2021, Mr. Yetter agreed to merge Physicians First with FOCUS and lead the firm’s healthcare team. Mr. Yetter also has healthcare operating and investing experience. He was an early executive at Covenant Physician Partners (previously Covenant Surgical Partners), an acquirer and operator of ambulatory surgery centers and physician practices. The company built and operated an outsourced laboratory, an anesthesia business, and a revenue cycle management company. Covenant has grown into a major player in healthcare services and is currently backed by private equity firm KKR. Prior to Covenant, Mr. Yetter held operating roles at Volkswagen Group of America and Brainlab, Inc., an image guided surgery company. While at Brainlab, Mr. Yetter worked with leading neurosurgeons and hospitals to implement cutting edge technology and improve patient outcomes. Mr. Yetter is a licensed attorney (currently inactive) and earned JD and BS degrees from Vanderbilt University, graduating with high honors. He is a FINRA licensed investment banker.