The State of Physician Practice M&A: What Sellers Need to Know in 2026
The physician practice M&A market in 2026 looks very different than it did just a few years ago.
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Strategic Advisory for Healthcare Founders and Operators
Independent transaction and capital advisory services to physician practices and healthcare enterprises.
Healthcare Expertise. Institutional Execution.
Alexander Price & Co. is a healthcare-focused advisory firm advising physicians, founders, partners, and management teams on mergers, acquisitions, recapitalizations, and strategic transactions.
We represent physician practices and healthcare services businesses across the United States – including specialty physician practices, multi-site provider platforms, and diversified healthcare service organizations.
Our mandate is singular: to maximize enterprise value while protecting the long-term interests of our clients. Each engagement is senior-led and executed with discipline, discretion, and strategic clarity.
Advisory Services
Sell-Side Advisory
Recapitalizations &
Structured Liquidity
Capital Advisory
Strategic Advisory
Sell-Side Advisory
Sell-Side Advisory
Comprehensive representation of owners pursuing full or partial liquidity through strategic or financial buyers. We manage every phase of the transaction process — positioning, buyer engagement, negotiation, and closing.
Recapitalizations &
Structured Liquidity
Recapitalizations & Structured Liquidity
Minority or majority recapitalizations designed to provide liquidity while preserving long-term equity participation and operational leadership.
Capital Advisory
Capital Advisory
Private capital placement for growth initiatives, acquisitions, de novo expansion, and balance sheet optimization.
Strategic Advisory
Strategic Advisory
Valuation analysis, succession planning, and transaction readiness advisory for healthcare organizations evaluating future strategic alternatives.
Deep Market Intelligence in Healthcare Transactions
Healthcare consolidation is nuanced, specialty-specific, and relationship-driven. Valuation is influenced not only by financial performance, but by payer mix, provider concentration, ancillary revenue streams, growth profile, and buyer appetite within a given subsector.
Our team brings direct transaction experience across all healthcare verticals and maintains active dialogue with private equity sponsors, strategic consolidators, and healthcare-focused investors.
This perspective allows us to:
- Accurately position businesses within the current market
- Target the most relevant buyers and investors
- Structure processes that create competitive tension
- Translate market dynamics into clear, actionable insight for physician owners
Our Difference
Discretion and Confidentiality
We understand the sensitivity surrounding ownership transitions in physician-led enterprises. Engagements are managed with strict confidentiality and controlled buyer outreach.
Senior-Led Execution
Every mandate is led by senior bankers from strategy through closing. Clients do not get delegated to junior execution teams.
Targeted Buyer Access
Our process is built on curated, highly targeted buyer lists developed through longstanding relationships across healthcare-focused private equity and strategic acquirers.
Alignment with Physician Owners
We communicate complex financial and structural concepts in clear, practical terms — enabling physician partners to make informed, confident decisions.
Process Discipline
Institutional-quality execution with boutique-level attention and responsiveness.
Selected Transaction Experience
The experience presented below reflects selected transactions and advisory engagements led by the Managing Directors prior to the founding of Alexander Price & Co., while affiliated with other institutions. Transactions listed are representative of prior experience and do not imply involvement by Alexander Price & Co. unless otherwise indicated
Disciplined Process.
Thoughtful Structuring.
A successful transaction extends beyond headline valuation.
We advise clients on:
- Equity rollover and long-term value creation
- Governance and control considerations
- Earn-out and incentive alignment
- Cultural fit and partnership dynamics
- Risk allocation and post-closing obligations
Our objective is not merely to close a transaction, but to structure one that serves our clients’ long-term financial and professional objectives.
Healthcare Market Perspectives
We publish commentary on consolidation trends, valuation drivers, capital markets activity, and specialty-specific transaction dynamics shaping the healthcare landscape.
5 Signs It Might Be Time to Sell Your Medical Practice
Independent practice ownership is changing, and for many physicians the signals are already there.
Private Equity vs. Health System Acquirers: How to Think About the Difference
Private equity-backed platforms and health systems may both want to buy your practice—but they’re optimizing for different outcomes. Here’s how to compare the tradeoffs and choose the buyer that fits your goals.
Considering a Strategic Transaction?
Ownership transitions require careful planning, discretion, and experienced execution.
We welcome confidential discussions with physician practice owners, healthcare entrepreneurs, and management teams evaluating strategic alternatives.