Over the past decade, 342 cardiology clinics have been acquired by private equity firms, with over 94% of those occurring between 2021 and 2023, according to a study published today in JACC , the flagship journal of the American College of Cardiology, and presented at the AcademyHealth 2024 Annual Research Meeting in Baltimore. As this practice grows, the study highlights the critical need to monitor the effects of private equity acquisitions on quality of care and outcomes for patients with cardiovascular disease, as well as procedural utilization. Private equity in health care is when a medical practice and their sites of service are acquired through the pooled investment from multiple sources, including individual and institutional investors, pension funds, endowments, etc.
, with the intention of improving operations, financially supporting innovation and technology, increasing growth through additional acquisitions and ultimately, increasing profitability. Policymakers and clinicians have raised concern about the growing presence of private equity in other medical specialties. Although cardiology is an attractive target for private equity firms, little is known about the number and types of practices that are being acquired.
Private equity acquisitions in other specialties have been shown to decrease quality and increase costs, so it is critical to understand the impact on cardiology." Rishi K. Wadhera, MD, MPP, MPhil, Senior Author, Cardiologist at Beth Israel Deaconess .