Author Archive

Eric Yetter

Managing Director and Healthcare Team Leader

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2020 Marked by Mostly Small Deals in Dermatology

Members of the FOCUS Healthcare team counted approximately 25 closed dermatology transactions in 2020. Of those, fifteen were for small single-dermatologist practices. Ten deals were for two-dermatology practices, and five deals were for three-to six physician groups.  

2021 is off to a Fast Start for Gastroenterology

Gastroenterology deals have been accelerating, with eight closed transactions in Q4 2020 and another eight already closed (as of Jan 19) in 2021. We believe this will be a very big year for GI.

Private Equity Moving Outside Surgical Specialties

In many ways, the third wave of private equity investment in physician-owned businesses is starting to mature. We view this third wave as having started around 2015 with investments in ophthalmology and dermatology practices. Earlier investments in radiology and emergency medicine, or pure-play ASCs, are really part of an earlier wave.

White Paper: Private Equity Investment in Ophthalmology – August 2020 State of the Market

A comprehensive view of ophthalmology's recovery from the pandemic shutdown. We review changes in elective surgery, the emerging investor interest in retina practices, private  equity acquisition activity, geographic development, and changes to acquisition practice size. As the COVID-19 fog begins to clear, we see significant near-term promise and a potential return to record deal levels.

White Paper: Private Equity Investment in Dermatology – April 2020 State of the Market

After seven strong years, private equity investment in dermatology has been in decline since 2019. Now, elective procedure bans and shelter-in-place orders have practice owners wondering if the opportunity to sell has passed. This paper  examines  the differing views on pe-backed consolidation, key performance indicators, investor activity, and saturation by geography and practice size. We see several positive factors for our current and potential clients within a coming private equity player restructuring.