Just as in the 1990s, there is a wave of consolidation in the health-care industry today that is affecting both the perception and the reality of physician practice value. In many cases, the economics of today’s transactions are similar to the ’90s and that does not bode well for the future. At the end of that decade, many of the acquisitions proved to be disastrous financially to the hospitals and both private and public equity purchasers, resulting in divestiture of the practices.
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