How to Sell an Orthopedic Practice
Learn how to sell an orthopedic practice: how ASC ownership and ancillaries drive value, MSK platform buyers, preparation, and a competitive sale.
By Carlo Ronci · Sell-Side Representation & Valuations, Tenet M&A
Orthopedic practices commonly sell around 6–8× Adjusted EBITDA, with ASC ownership, imaging, physical therapy, and DME ancillaries driving value. MSK-focused PE platforms and hospitals compete for scaled groups with strong surgical volume. See how this compares in our valuation multiples by specialty guide.
Orthopedics has moved to the front of the healthcare M&A market. The migration of musculoskeletal procedures to outpatient settings, rich ancillary revenue, and the rise of large MSK platforms have made orthopedic practices highly sought after by private equity and health systems alike. For owners, that demand can support a premium exit — if you understand today’s buyers and run a disciplined process. This page explains how to sell an orthopedic practice and how Tenet M&A helps you maximize value.
Tenet M&A advises orthopedic surgeons on confidential sales, partnerships, and transitions. When you are ready, we help you sell your orthopedic practice the right way. For the full process, see our complete guide to selling a practice.
Why orthopedics is a top M&A target
Orthopedics offers an unusually deep set of revenue streams: high-value surgical procedures increasingly performed in ambulatory surgery centers, plus ancillaries such as imaging, physical therapy, durable medical equipment, and pain management. As total joint and spine procedures shift outpatient, independent groups that own an ASC capture value that once belonged to hospitals. Large MSK platforms have formed to consolidate exactly these economics, competing with health systems for the strongest practices.
What drives the value of an orthopedic practice
- ASC ownership. A surgery-center interest is often the largest single value driver as procedures move outpatient.
- Ancillary services. In-house imaging, PT, DME, and pain management add durable, high-margin revenue.
- Sub-specialty and surgical mix. Total joints, spine, and sports medicine volume signal strong earnings.
- Provider depth. Multiple surgeons and advanced-practice providers reduce dependence on any one physician.
- Growth and market position. A desirable geography and expansion runway increase strategic appeal.
See our medical practice valuation guide and what drives higher or lower valuations.
Who buys orthopedic practices?
Orthopedic sellers typically attract PE-backed MSK platforms, health systems, and larger orthopedic groups. Platform buyers often pay premium multiples for practices with ASC ownership and strong ancillaries, frequently offering equity rollover and physician-led governance with an ongoing surgical role. Weigh the options in selling to private buyers vs. MSOs or platforms.
How to prepare your orthopedic practice for sale
Prepare 12 to 36 months ahead. Document ASC and ancillary economics, strengthen surgeon and provider depth, keep clean financials with a clear add-back schedule, secure referral relationships, and resolve compliance and coding issues before diligence. These steps directly raise the multiple — see how to prepare your practice for sale and how to increase value before selling.
How Tenet M&A helps you sell an orthopedic practice
Tenet M&A runs a confidential, competitive process built for orthopedics — a healthcare-specific valuation that captures ASC and ancillary value, careful preparation, access to MSK platforms and strategic buyers, and skilled negotiation of price and terms. Explore our advisory services or start a confidential conversation. This page is educational and not tax or legal advice.
Frequently asked questions about selling an orthopedic practice
How much is my orthopedic practice worth?
Orthopedic practices are valued on a multiple of Adjusted EBITDA, with ASC ownership, ancillary services, surgical mix, and provider depth driving the multiple. Practices with a surgery-center interest and strong ancillaries can command premium values, and platform buyers may pay more for a strong fit.
Why is orthopedics so attractive to private equity?
Orthopedics combines high-value outpatient-shifting surgery with rich ancillaries like imaging, PT, and DME — multiple complementary, high-margin revenue streams that scale well in an MSK roll-up.
How much does an ASC add to my practice’s value?
Often a great deal. As total joint and spine procedures move to outpatient settings, an ambulatory surgery center interest captures high-margin surgical revenue that platform buyers value highly, frequently making it the largest single value driver.
How long does it take to sell an orthopedic practice?
Most sales take about nine to eighteen months from preparation to closing. Starting early lets you document ASC and ancillary economics and run a competitive process.
Carlo built his career at the intersection of finance and medicine. A former owner of a healthcare-focused accounting firm, he specializes in sell-side representation, valuations, and accounting advisory for medical and dental practices.
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