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Scoop: Cardiology care platform preps sale

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Illustration: Gabriella Turrisi/Axios Pivotal Healthcare Partners , a privately held cardiology group, is gearing up for a potential sale, sources familiar with the company’s plans tell Sarah and Axios’ Claire Rychlewski .

Why it matters: Heart disease is the country’s No. 1 cause of death , and cardiology care is considered the largest driver of health care spending in the U.S. That presents a massive opportunity to curb costs and deliver higher quality care, and investors are increasingly taking notice.

Driving the news: Pivotal, a Jacksonville, Florida-based cardiovascular practice management company, recently hired Triple Tree for sell-side financial advice, sources say. A process has not launched and is not imminent, with timing yet to be determined, sources caution.

Pivotal is expected to generate mid-teens of EBITDA in 2022, they add.

State of play: Outpatient cardiology care consolidation lags behind other specialties. However, an aging population underpins growth in demand for cardiovascular specialists, suggesting investment into the segment could be heading higher. Like other specialties, sponsors see an opportunity to shift procedures to lower-cost care settings, like ambulatory surgery centers. Payors, physicians that see the appeal of working outside of the hospital, and patients’ calling for greater convenience are […]

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