Several market dynamics are creating a boom in the health care industry, making now an ideal time to buy or sell a business in this market. At BayState Business Brokers, we have deep experience selling a wide variety of health care businesses, including home health care agencies, behavioral health practices, physical therapy practices, occupational therapy practices and speech therapy practices, as well as medical device companies and clinical trial companies. With more than 15 years of experience brokering the sale of businesses in this industry, we’ve developed a robust database of individual, strategic and private equity buyers, as well as a highly effective, proven process to ensure a smooth and successful sale.
Below are three trends fueling the growth of the recession-proof health care market:
Aging baby boomers spiking demand for home health care – At more than 75 million strong, the baby boomer population is creating its own boom in the home health care market. As this influential population ages, statistics show that a full 90 percent prefer to age in place, receiving care in the comfort of their own home as opposed to living in a nursing home or assisted living facility. This is creating a pressing demand for home health care companies, which makes it an ideal time to enter this burgeoning market.
Mental health services on the rise due to pandemic – A surge in mental health issues arose from the COVID-19 pandemic, spiking the demand for behavioral health services. According to a CNBC article, “Of psychologists who treat anxiety disorders, nearly three-quarters of those surveyed by APA reported an increase in demand for treatment, while 60% of those who treat depression saw an increase.”
In addition, the pandemic made telehealth services more mainstream, making these services more accessible to people. The combination of these trends is contributing to the growth of this segment of the health care market.
Hospitals under pressure to lower readmission rates, increasing demand for home health care and rehab services – Under the Affordable Care Act’s Hospital Readmission Reduction Program, the federal government cuts payments to hospitals with high rates of patient readmissions. Because of that, hospitals are under pressure to lower readmission rates and refer patients to home health care agencies and rehab services, such as physical and occupational therapy. This is naturally creating a pressing demand for these services.
BayState Business Brokers: Your Source to Buy or Sell a Business in the Health Care Industry
If you have a health care business you’d like to sell or are interested in purchasing a business in the thriving health care market, contact us. We have a team of brokers with expertise in this industry, as well as a proven process to match sellers with the right qualified buyers, enabling both parties to seamlessly reach their goals. Learn more about our expertise in this market here. To find out more about recent businesses we’ve sold in the health care market, read here and here.