Exit Planning for Orthopedic Practices

Orthopedics has become a major target for private equity and health systems. Musculoskeletal (MSK) platforms and joint ventures are buying practices, ASCs, and ancillary services. For a surgeon nearing the end of their career, or a group weighing an offer, the decision affects their income, autonomy, and ASC equity for years. Physician Planning Partners is an introduction service. We connect orthopedic surgeons with independent business brokers, valuation professionals, CPAs, and transaction attorneys we select to partner with.

What drives value in an orthopedic practice

• ASC ownership and case mix. Moving total joints and spine cases to outpatient settings has made ASC equity a big part of many deals.
• Ancillaries. Imaging, physical therapy, DME, and urgent care can add value but come with their own compliance diligence.
• Subspecialty depth. Groups that cover sports, joints, spine, hand, and trauma attract different buyers than single-subspecialty practices.
• Payer contracts and referral base. Buyers will look closely at reimbursement rates and where new patients come from.
• Surgeon age profile. Buyers want to know who will keep producing after closing.

Common exit paths

1. Partnering with a PE-backed MSK platform, often with cash at close, rollover equity, and a new employment agreement.
2. Hospital or health system employment, sometimes combined with an ASC joint venture.
3. Internal succession, where younger partners buy out retiring partners under the group's agreements.
4. Selling ASC shares separately from the clinical practice.

Before you sign

Many surgeons get an independent valuation, have a CPA model the after-tax proceeds and the value of rollover equity, and ask an attorney to review non-compete, call, and compensation terms. Your partners may have different goals, so align early. We can introduce each of these professionals.

How the introduction works

1. Tell us your timeline and any offers you've received.
2. We suggest independent exit-planning professionals we partner with.
3. You meet them directly and decide who to engage.

Frequently asked questions

Are you an investment banker or broker?

No. Physician Planning Partners is an introduction service. The professionals we introduce are independent.

Can I keep my ASC shares if I sell my practice?

Sometimes. It depends on the ASC agreement and the deal. An attorney can explain your options.

How is rollover equity valued?

It depends on the buyer and the deal terms, and its future value isn't certain. Review it with a CPA and an attorney.

What does the introduction cost?

Nothing. We may receive compensation from partner businesses, as described in our disclaimer.

Physician Planning Partners is an introduction service, not a broker, law firm, or CPA firm, and this page is general information, not advice. See our disclaimer.