For cardiology practice owners in Tampa, the market is experiencing unprecedented activity. Rising demand, a wave of private equity investment, and shifting care models have created a prime seller’s market. Navigating this landscape requires more than just an offer. It requires a strategy. This guide provides a direct look at the key factors you need to consider, from understanding your practice’s true value to planning for life after the sale.
Market Overview
The current environment for selling a cardiology practice in Tampa can be described as a perfect storm of opportunity. Several powerful forces are converging, making established practices like yours more valuable than ever.
A Surge in Demand
Two key trends are driving the need for cardiovascular care. First, Florida’s growing 65+ population means more patients require ongoing treatment. Second, the nation faces a projected shortage of up to 15,800 cardiologists by 2030. This scarcity places a premium on existing, efficient practices with a stable patient base.
Florida at the Epicenter
Private equity firms see the potential in cardiology and are investing heavily. Florida is their number one target. The state is home to over 60 private equity-backed cardiology clinics, more than any other in the country. These buyers are actively seeking to build large-scale platforms, and they need strong local practices to serve as the foundation.
Key Considerations
Thinking about a sale goes beyond the numbers. It is a decision that impacts your legacy, your staff, and your future. As you consider this step, reflect on what is most important to you. Are you looking for a full exit or a partnership that allows you to continue practicing with fewer administrative burdens? A major trend for 2025 is the movement of care to outpatient settings like ambulatory surgery centers (ASCs). If your practice is already positioned for this shift, or could be, your value to a potential buyer increases significantly. The right partner can help you capitalize on these trends, not just react to them.
Market Activity
The buyers in today’s market are not a uniform group. They have different goals, which will shape the type of deal you can achieve. Private equity firms, hospital systems, and even large strategic competitors are all active in the Tampa area, but they are looking for different things. For instance, nearly half of all private cardiology practices were owned by private equity in 2023. This shows a clear trend toward physician-led, business-supported models. Understanding these buyer motivations is the first step to finding the right fit for your personal and financial goals.
| Buyer Type | Primary Goal | What This Means for You |
|---|---|---|
| Private Equity Firm | Build a larger platform, increase EBITDA | Partnership model, potential for a “second bite” at a future sale |
| Hospital / Health System | Expand geographic footprint, secure referrals | Often an employment model, focused on clinical integration |
| Strategic Competitor | Grow market share, gain efficiencies | Can be a full buyout, may absorb or retire your brand |
Sale Process
Selling your practice is a multi-stage journey, not a single event. The work you do before ever speaking to a buyer has the biggest impact on your final outcome. The process generally starts with a comprehensive valuation and preparation phase, where we help you see the business through a buyer’s eyes. Then, we discreetly and confidentially market your practice to a curated group of qualified buyers. The most critical stage is often due diligence, where a buyer inspects every aspect of your operations and financials. Many deals falter here due to surprises. With proper preparation, this becomes a smooth confirmation of value, leading to a successful closing.
Valuation
Many owners tell us they think their practice is not worth enough to sell, often because they are looking at tax returns or simple profit. A professional valuation goes much deeper to find the real number. Here is how we look at it.
-
Finding Your True Profit (Adjusted EBITDA)
A buyer wants to know the practice’s true earning power. We start with your stated net income and add back owner-specific expenses like an above-market salary, personal car leases, or other one-time costs. This “Adjusted EBITDA” is the baseline for your valuation. A practice with $500,000 in profit might have a true Adjusted EBITDA of $700,000 or more. -
Applying the Right Multiple
Next, we apply a multiple to that Adjusted EBITDA. This is not a guess. It is based on real-time market data for cardiology practices in our region, a practice’s size, its provider mix, and its growth trajectory. Practices with multiple providers and ancillary services command higher multiples. -
Telling Your Story
Finally, numbers alone do not create premium value. We craft a compelling story around your practice’s strengths, its position in the Tampa market, and its future opportunities. Buyers pay for a proven track record and a clear path for growth.
Post-Sale Considerations
The moment the deal closes is not the end of the story. The decisions you make during negotiations will define your financial and professional life for years to come. The structure of the sale itself has massive implications for your final after-tax proceeds. Beyond that, you must plan for your new role. Do you want to continue practicing? For how long? Many modern deals include options for you to retain equity in the new, larger company, offering the potential for a “second bite of the apple” when that company sells in the future. Planning for these outcomes from the start is critical to protecting your wealth, your team, and the legacy you have built.
Frequently Asked Questions
What makes the Tampa cardiology practice market a prime seller’s market in 2024?
The Tampa cardiology practice market in 2024 is a prime seller’s market due to a surge in demand for cardiovascular care driven by Florida’s growing 65+ population and a nationwide shortage of cardiologists projected by 2030. Additionally, private equity firms heavily invest in Florida’s cardiology sector, creating high demand and competitive offers for established practices.
Who are the main buyers for cardiology practices in Tampa, and what are their goals?
The main buyers are private equity firms, hospital systems, and strategic competitors. Private equity firms aim to build larger platforms and increase EBITDA, often favoring partnership models. Hospital systems look to expand geographic footprint and secure referrals, usually via employment models focused on clinical integration. Strategic competitors seek to grow market share and efficiencies, often through full buyouts that may absorb or retire existing brands.
How is the true value of a cardiology practice determined for sale?
The true value is determined through a professional valuation process involving: 1) Calculating Adjusted EBITDA by adding back owner-specific expenses to net income to find true profit; 2) Applying a market-based multiple relevant to practice size, provider mix, and growth potential; 3) Crafting a narrative that highlights the practice’s strengths, market position, and growth opportunities to enhance perceived value.
What are important considerations for cardiology practice owners when planning to sell?
Owners should consider their legacy, impact on staff, and future plans. They need to decide between a full exit or partial partnership, assess how positioned their practice is for trends like outpatient care at ambulatory surgery centers (ASCs), and evaluate buyer types that align with their personal and financial goals. Protecting their team and legacy during ownership transition is also crucial.
What should a cardiology practice owner expect during the sale process?
The sale process is multi-stage: starting with valuation and preparation to view the practice through a buyer’s lens, followed by confidential marketing to qualified buyers, then rigorous due diligence where buyers inspect operations and financials. Proper preparation can prevent surprises during due diligence and smooth the path to successful closing. Post-sale negotiations determine financial outcomes and the owner’s ongoing role.