Researchers from Providence, R.I.-based Brown University analyzed private equity firm acquisition and employment trends in the radiology industry between 2013 and 2023 for the study.
Here are five things to know about their analysis:
- There were 151 private equity acquisitions of U.S. radiology practices, spanning almost 3,500 locations, during the study period.
The minimum number of acquisitions was five in 2014 and the maximum was 26 in 2019.
Texas saw the most acquisitions over the study period at 27, followed by Louisiana and Florida at 17 and 13, respectively.
- By December 2023, 3,463 radiology practices were under private equity ownership in the U.S., making up 16% of all radiology practices.
- In 2013, 0.88% of radiologists in the U.S. were under private equity employment. That share rose to 11.7% in 2023.
- Of all private equity-employed radiologists in the U.S., 70.4% worked for Radiology Partners, 8.2% worked for LucidHealth and 6.7% worked for U.S. Radiology Specialists.
- The five states with the highest percentage of private-equity employed radiologists in December 2023 were: Nevada at 46.5%, Arizona at 44.2%, Alaska at 29.1%, Texas at 26.9% and Florida at 23.9%.
Read the full study here.
