Becker's Healthcare January 16, 2026
Private equity remains active in healthcare, including in the ASC ecosystem, but the strategy is shifting.
Rather than building standalone ASC platforms, firms are increasingly pairing ASC investments with physician practice management infrastructure to control patient flow across the care continuum and diversify revenue, according to VMG Health’s “2025 Healthcare M&A Report.”
Additionally, Bain & Co.’s “Global Healthcare Private Equity Report” highlights a growing focus on specialties in which scale, clinical coordination and cost management can improve outcomes and economics. While physician groups now account for a smaller share of total provider deals than at their 2021 peak, Bain notes they remain a core private equity portfolio asset, particularly in the U.S. middle market, where investors are prioritizing...







