White Papers

The following portfolio of downloadable White Papers are informational PhysiciansFirst publications for physicians and providers interested in a potential sale. These white papers cover a variety of subjects relating to the mergers & acquisitions space surrounding private medical practices and ambulatory surgery centers. We believe this is the most comprehensive information available on the subject.

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Navigating the ASC Acquisition Marketplace: Insights for Physician-Owners

This publication provides insights drawn from our years of experience on both the buy-side and sell-side of ASC transactions. This primer covers the market for ASC sales, the seller's four end-game options, the success curve, the failure curve, the transaction process and much more. REQUEST COPY
Feb 2019 Navigating ASC Marketplace Cover

The Physician Seller's Guide to Ambulatory Surgery Center Buyers

Over the past thirty years, ambulatory surgery center management companies have arisen as a means for physicians to both monetize the value of their ASCs and help ensure their successful operation going forward. In this paper we review the market and provide an overview of each of the companies actively investing in ASCs today. REQUEST COPY

May 2019 Physician Seller's Guide to ASC Buyers
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The Current State of Private Equity in Ophthalmology Practices and Surgery Centers

One of the most comprehensive reviews of the key transaction events and issues to be expected when pursuing a sale to Private Equity. Our ophthalmology physician sellers find this white paper to be a valuable primer. We cover the nine-step sale process, components of a deal, multiples and valuation, normalized compensation, and much more. REQUEST COPY
Feb 2019 Current State of PE in Ophthalmology Cover

The Physician Seller's Guide to Private Equity Firms Investing in Ophthalmology

A comprehensive analysis of Private Equity's emerging investment in Ophthalmology and how that trend is spreading across the United States. In-depth profiles are provided for each of the twenty competing firms with a view of their goals and objectives, practice acquisition history, and regional presence. We conclude with key expectations for the future. REQUEST COPY

Feb 2019 Physician Seller's Guide Ophthalmology Cover

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The Current State of Private Equity in Dermatology Practices and Surgery Centers

If you are a dermatology physician-owner considering a sale to Private Equity, this white paper is required reading. It provides a comprehensive review of the key transaction events and issues to be expected when pursuing a sale to Private Equity. We drill down into the entire process and share our experience, insights and expectations. REQUEST COPY
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The Physician Seller's Guide to Private Equity Firms Investing in Dermatology

Twenty-seven Private Equity firms are actively investing in Dermatology across the United States. This white paper is one of the most comprehensive reviews available for that group of investors. We provide a clear understanding of this market consolidation and profile every firm’s goals and objectives, practice acquisition history, and regional presence. REQUEST COPY

March 2019 Physician Seller's Guide Dermatology Cover
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The Physician Seller's Guide to Private Equity Firms Investing in Gastroenterology

Gastroenterology is a primary part of many ASC management companies and a key to their success. GI physicians are entrepreneurial and business minded, developing ASCs, laboratories, and other ancillary revenue sources. Hospitals have become more competitive by hiring or acquiring internal GI departments. Now, private equity investors are emerging as a new player in this complex ecosystem. In early 2019, three private equity firms have completed major investments in gastroenterology. REQUEST COPY
April 2019 Physician Seller's Guide to  Gastroenterology
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The  Physician Seller's Guide to Private Equity Firms Investing in Orthopedics and Neurosurgery

We review the emerging consolidation wave in orthopedic and neurosurgery practices and ambulatory surgery centers. Orthopedics, perhaps more than any other specialty, has key operational and market fundamentals that are very attractive to investors. Gain an in-depth understanding of who is investing, who is selling and where these pioneering transactions have been completed.  REQUEST COPY
April 2019 Physician Seller's Guide Orthopedics and Neurosurgery PE Firms
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The Physician Seller's Guide to Private Equity Firms Investing in Urology

Private equity firms investing in healthcare services routinely mention urology as a specialty of very high interest. Though still very early in the investment life cycle, three private equity firms have made major investments in Urology practices as of January 2019. Many others are looking for the ideal first investment. REQUEST COPY

May 2019 Physician Seller's Guide Urology PE Firms
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The Practice Owner's Guide to Private Equity Firms Investing in Optometry

An in-depth review of the four major private equity backed Practice Management Companies investing in Optometry across the United States. We detail the history of each company, practice ownership, geographic focus, and future growth objectives and conclude with our key expectations for the future development of this vertical. REQUEST COPY

Feb 2019 Practice Owner's Guide Optometry Cover