Healthcare Services | First Quarter 2023

May 2023 – This issue of SOLIConnect reports that healthcare M&A transaction volume declined in Q1 2023 with approximately 600 deals, down 6% from Q4 2022 and down 20% from Q1 2022, as growing labor costs, inflation and high-interest rates have stifled deal activity. M&A activity was led by the physician medical groups sector (PMG) with 135 transactions, a decline of 13% compared with Q4 2022, but in line with the same period a year prior. And while the number of hospital M&A transactions in Q1 2023 still lags pre-COVID-19 pandemic levels, transaction value increased to $12.4 billion due to several large announced multi-regional system mergers, almost surpassing the recent peak of $12.7 billion in 2018.

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