Women’s Health Market Update

Women’s Health is a relatively new sector of interest for private equity groups (the first investment from private equity was Are’s partnership with Unified Women’s Healthcare in 2013 before investment halted until 2017). In a short period of time, the industry has seen rapid consolidation with nearly 70% of acquisitions to date occurring in 2020 or 2021 (showing resiliency amidst a global pandemic).

The considerable acceleration of transaction activity has created a rapidly closing window for groups to be “first movers” in their market. Platform acquisitions have been coupled with many add-on acquisitions as existing platforms look to increase regional density and expand into new geographies.

Recent Transaction Activity in Women’s Health

Date	Target	PE Sponsor	Platform	State
February 2021	Together Women’s Health	Shore Capital Partners		MI
January 2021	Care First	Audax Group	Axia Women’s Health	NJ
December 2020	Women’s Care Enterprises	BC Partners		FL, CA, KY
December 2020	Desert Perinatal Associates	Sverica Capital	Women’s Health USA	NV
December 2020	Mid Atlantic Women’s Care	Atlas Partners	Unified Women’s Healthcare	VA, NC
December 2020	Unified Women’s Healthcare	Atlas Partners		12 States
November 2020	Women’s Health Group	Shore Capital Partners		CO
September 2020	Women’s Health USA	Sverica Capital	Women’s Health USA	NV
September 2020	Women’s Health Associates of Southern Nevada	Sverica Capital	Women’s Health USA	NV
June 2020	Reiter, Hill, Johnson & Nevin	Assured Healthcare Partners	Advantia Health	DC, MD, VA
June 2020	Seven Hills Women’s Health Centers	Audax Group	Axia Women’s Health	OH
March 2020	Seven Hills OB-GYN Associates	Audax Group	Axia Women’s Health	OH
March 2020	Rubino OB/GYN Group	Audax Group	Axia Women’s Health	NJ
January 2020	Southern California Reproductive Center	Lindsay Goldberg	Women’s Care Enterprises	CA
January 2020	Oceanside OB/GYN	Audax Group	Axia Women’s Health	NJ
January 2020	Advantia Health	Assured Healthcare Partners		IL, MD, MO, VA,
January 2020	Women’s Health of Central Massachusetts	Sverica Capital	Women’s Health USA	MA
November 2019	OB/GYN of Indiana	Audax Group	Axia Women’s Health	IN
October 2019	Palm Beach OB-GYN	Lindsay Goldberg	Women’s Care Enterprises	FL
January 2019	London Women’s Care	Lindsay Goldberg	Women’s Care Enterprises	FL
August 2017	Women’s Health USA	Sverica Capital		CT
May 2017	Women’s Care Florida	Lindsay Goldberg		FL
January 2017	Axia Women’s Health	Audax Group		NJ, PA

Despite the heightened deal activity in the last year, there is still considerable opportunity in the industry with private equity still in the early innings of consolidation within the women’s health sector. The opportunity remains very strong for groups interesting in pursuing partnerships with private equity to achieve their goals and succession plans.

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source https://physiciangrowthpartners.com/healthcare-ma/womens-health-market-update/