Los Angeles is a top healthcare M&A market in the US, with active deal flow across physician services, health tech, behavioral health, and life sciences. This list covers 12 active advisors in 2026 - deal sizes, sector focus, and verified recent transactions.
LA healthcare M&A market in 2026
Healthcare M&A deal value in the US reached $46 billion in 2025, with Q4 rebounding sharply as buyers sought scale and AI-enabled health technology. Healthcare deal volume is projected to increase 10-15% year over year in 2026.
Los Angeles healthcare M&A is concentrated in physician group consolidation, ambulatory surgery centers, behavioral health platforms, home health and infusion services, and health IT. PE consolidators remain the most active buyers across all of these sub-sectors.
Build your Ellty data room before your first advisor conversation. Healthcare buyers check HIPAA compliance documentation, payor mix, and payer contracts before sending an LOI.
Ellty's document security tools let you control which buyers access patient data and compliance records during the diligence process. Stage access so sensitive information only reaches buyers who have signed confidentiality agreements.
What separates LA healthcare advisors
Los Angeles is home to Cedars-Sinai, UCLA Health, and USC's Keck Medicine - plus hundreds of independent physician practices, home health agencies, and behavioral health platforms that are active M&A targets. Advisors with active relationships in that network see deal flow before it hits the market.
CriticalPoint is headquartered in Los Angeles and is recognized as a top healthcare M&A boutique in the market. Three CriticalPoint leaders were named 2025 Dealmakers of the Year by the Los Angeles Business Journal. Houlihan Lokey, also headquartered in Century City, is the most active healthcare M&A advisor globally in the sub-$1B market.
Healthcare M&A has regulatory complexity that generic advisors miss. Your advisor needs to understand certificate of need laws, anti-kickback statute implications in deals, and CMS change-of-ownership (CHOW) notification requirements.
| Advisor | Deal Type | Deal Size | Sector Focus | Website | |
|---|---|---|---|---|---|
| CriticalPoint | CriticalPoint | Both | $10M-$500M | Healthcare services, medical spas, home health, behavioral health, specialty clinics | criticalpoint.com |
| Houlihan Lokey | Houlihan Lokey | Both | $50M-$5B+ | Physician services, health IT, behavioral health, retail health, medical products | hl.com |
| William Blair | William Blair | Both | $50M-$2B+ | Healthcare services, health IT, medical technology, pharma outsourcing | williamblair.com |
| Harris Williams | Harris Williams | Both | $50M-$2B+ | Healthcare & life sciences, health IT, medical products, value-based care | harriswilliams.com |
| Lincoln International | Lincoln International | Both | $50M-$1B+ | Healthcare services, life sciences, pharma outsourcing, medtech, health IT | lincolninternational.com |
| Imperial Capital | Imperial Capital | Both | $25M-$1B+ | Healthcare, health tech, services, specialty pharma, medical devices | imperialcapital.com |
| Piper Sandler | Piper Sandler | Both | $50M-$2B+ | Healthcare services, health IT, pharma, biotech, medical devices | pipersandler.com |
| Jefferies | Jefferies | Both | $100M-$5B+ | Pharma, biotech, medical devices, healthcare services, health IT | jefferies.com |
| Raymond James | Raymond James | Both | $25M-$1B+ | Healthcare services, physician groups, home health, specialty pharma | raymondjames.com |
| M&A Healthcare Advisors | M&A Healthcare Advisors | Sell-side | $5M-$100M | Lower-middle market healthcare services, pharmacy, home health, physician practices | mahealthcareadvisors.com |
| FOCUS Investment Banking | FOCUS Investment Banking | Both | $5M-$250M | Healthcare services, health IT, diagnostics, provider services, pharmacy | focusbankers.com |
| American Healthcare Capital | American Healthcare Capital | Both | $5M-$200M | Home health, hospice, behavioral health, physician practices, urgent care | americanhealthcarecapital.com |
How to verify a healthcare advisor's deal record
Ask for a closed deal list with healthcare-specific buyers and deal sizes from the last 24 months. A credible LA healthcare advisor closes 10+ healthcare transactions per year with named buyers.
Check whether the advisor has sold to both PE platforms and strategic acquirers. Selling to a PE rollup is structurally different from selling to a hospital system. Advisors who've done both know what each buyer demands in diligence.
Ask specifically who on the deal team has prior healthcare operating or compliance experience. Advisors who understand CMS regulations, anti-kickback statutes, and payor contracting avoid process mistakes that kill healthcare deals.
Use Ellty's folder structure tools to organize your compliance records before your first buyer meeting. Healthcare buyers check compliance documentation before every other diligence area.
Read the Los Angeles M&A advisors overview to understand the full Southern California advisory market before narrowing to healthcare-specific firms.
Running a healthcare M&A process in LA?
Organize your contracts and compliance records before buyers start diligence.
Start free 14-day trialWhat a healthcare M&A deal looks like: 6 stages
LA healthcare sell-side processes run five to eight months. CMS change-of-ownership (CHOW) notifications and state licensing transfers can extend timelines significantly.
| Stage | What happens | What you need ready | |
|---|---|---|---|
| Stage 1 | Preparation | Valuation, advisor selection, CIM drafted | 3 years financials, payor mix, compliance records |
| Stage 2 | Advisor engagement | Engagement letter signed, buyer list built | Engagement letter, NDA, HIPAA compliance summary |
| Stage 3 | Marketing | Teaser and CIM sent to PE and strategic buyers | Ellty data room with access staged by NDA tier |
| Stage 4 | LOI | Buyers submit bids, advisor shortlists top three | Updated financials, physician contracts, payor agreements |
| Stage 5 | Due diligence | Buyer reviews contracts, compliance, licenses, and HR | Full Ellty room: licenses, payroll, compliance, payor contracts |
| Stage 6 | Close | Purchase agreement signed, CHOW filed, funds transfer | Board approvals, CHOW notification, state license transfers |
12 Los Angeles healthcare M&A advisors in 2026
These firms are active in healthcare services, physician groups, health IT, behavioral health, and life sciences M&A in Los Angeles in 2026.
1. CriticalPoint
CriticalPoint is a Los Angeles-headquartered investment bank combining M&A advisory, private capital, and valuation services. Three CriticalPoint managing directors - Diane Cabo, Nick Cipiti, and Mike Vehaskari - were named 2025 Dealmakers of the Year by the Los Angeles Business Journal. In March 2025, CriticalPoint advised AYA Medical Spa, a portfolio company of Eagle Merchant Partners, on its acquisition of Tribeca Medical Spa.
Recent Deals: Advised AYA Medical Spa (Eagle Merchant Partners portfolio) on its acquisition of Tribeca Medical Spa (March 2025). Previously advised Los Angeles Reproductive Partners on its acquisition by InTandem Capital Partners.
LinkedIn: CriticalPoint on LinkedIn
Sector Focus: Healthcare services, medical spas, home health, behavioral health, specialty clinics, physician practices
Deal Type: Both
Deal Size: $10M-$500M
Location: Los Angeles, CA (headquarters)
Website: criticalpoint.com
2. Houlihan Lokey (Healthcare Group)
Houlihan Lokey is headquartered in Century City, LA, and is the most active healthcare M&A advisor globally in the sub-$1B market. Their healthcare group covers physician services, behavioral health, retail health, health IT, and medical products. Houlihan Lokey recently advised HighFive Healthcare - a doctor-owned oral surgery and endodontic practice group - on its $100M growth equity placement from Norwest Venture Partners.
Recent Deals: Advised HighFive Healthcare on a $100M growth equity investment led by Norwest Venture Partners. Active in healthcare M&A advisory as the No. 1 global M&A advisor through 2025.
LinkedIn: Houlihan Lokey on LinkedIn
Sector Focus: Physician services, behavioral health, retail health, health IT, medical products, healthcare distribution
Deal Type: Both
Deal Size: $50M-$5B+
Location: Los Angeles, CA (Century City headquarters, global network)
Website: hl.com
3. William Blair (Healthcare Services)
William Blair has one of the most active healthcare M&A practices in the US, completing 17 signed or closed healthcare technology advisory deals in 2025 alone. In November 2025, William Blair advised Avalon Healthcare Solutions on its majority recapitalization by WindRose Health Investors. They also advised KKR on its recapitalization of DentalXChange, a portfolio company of Bregal Sagemount.
Recent Deals: Advised Avalon Healthcare Solutions on majority recapitalization by WindRose Health Investors (November 2025). Advised KKR on recapitalization of DentalXChange (2025). Advised PrimeRx on its sale to RedSail Technologies, backed by Francisco Partners and Leonard Green & Partners.
LinkedIn: William Blair on LinkedIn
Sector Focus: Healthcare services, health IT, medical technology, pharma outsourcing, life sciences
Deal Type: Both
Deal Size: $50M-$2B+
Location: Los Angeles, CA (West Coast coverage, national network)
Website: williamblair.com
4. Harris Williams (Healthcare and Life Sciences)
Harris Williams runs one of the market's leading healthcare M&A practices with dedicated teams covering health IT, medical products and devices, value-based care, payer and employer tech, and revenue cycle management. Their quarterly market reports track deal activity and buyer appetite across all healthcare sub-sectors. Harris Williams advised Raptor Scientific on its acquisition by TransDigm and Excelitas on its sale to Teledyne in 2025.
Recent Deals: Active in healthcare & life sciences M&A through 2025-2026 with quarterly market reports tracking medical products, health IT, value-based care, and payer tech deal activity.
LinkedIn: Harris Williams on LinkedIn
Sector Focus: Healthcare & life sciences, health IT, medical products and devices, value-based care, revenue cycle management
Deal Type: Both
Deal Size: $50M-$2B+
Location: Los Angeles, CA (West Coast coverage, national network)
Website: harriswilliams.com
Healthcare M&A data room in Los Angeles
Share patient contracts and compliance records securely with healthcare buyers.
Start free 14-day trial5. Lincoln International (Healthcare)
Lincoln International completed more than 45 healthcare transactions in an 18-month period through 2025 and has more than 30 dedicated healthcare officers worldwide. Their global healthcare group covers healthcare services, life sciences, pharma outsourcing, medtech, and health IT with cross-border deal capability across the US, Europe, and Asia.
Recent Deals: Completed 45+ healthcare transactions in the 18 months through 2025. Active in healthcare services and life sciences M&A through 2025-2026 with expanding global team.
LinkedIn: Lincoln International on LinkedIn
Sector Focus: Healthcare services, life sciences, pharma outsourcing, medical products, health IT
Deal Type: Both
Deal Size: $50M-$1B+
Location: Los Angeles, CA (West Coast coverage, Chicago headquarters)
Website: lincolninternational.com
6. Imperial Capital
Imperial Capital is headquartered in Century City, LA, and covers healthcare, health technology, specialty pharma, and medical devices across both PE and strategic buyer pools. Their 150+ professionals and 12 industry verticals give them broad deal coverage. Imperial Capital has been recognized consistently as one of the most active boutique M&A advisors in Los Angeles.
Recent Deals: Active in healthcare and health technology M&A through 2025-2026 with a dedicated LA presence and full-service IB platform covering capital markets, restructuring, and M&A.
LinkedIn: Imperial Capital on LinkedIn
Sector Focus: Healthcare, health tech, specialty pharma, medical devices, services
Deal Type: Both
Deal Size: $25M-$1B+
Location: Los Angeles, CA (Century City headquarters)
Website: imperialcapital.com
7. Piper Sandler (Healthcare)
Piper Sandler runs one of the most active healthcare investment banking practices in the US, with dedicated teams covering healthcare services, health IT, pharma, biotech, and medical devices. Their research-informed approach gives LA healthcare founders access to real-time buyer sentiment before going to market. Piper Sandler's LA team handles both PE-backed and founder-owned exits.
Recent Deals: Active in healthcare services, health IT, and pharma M&A through 2025-2026 with West Coast coverage and a dedicated LA team.
LinkedIn: Piper Sandler on LinkedIn
Sector Focus: Healthcare services, health IT, pharma, biotech, medical devices, diagnostics
Deal Type: Both
Deal Size: $50M-$2B+
Location: Los Angeles, CA (West Coast office, national network)
Website: pipersandler.com
8. Jefferies (Healthcare)
Jefferies has a large, global healthcare investment banking practice covering pharma, biotech, medical devices, healthcare services, and health IT. Their LA healthcare team provides access to both US and international strategic buyers. Jefferies is particularly active in life sciences and pharma-adjacent healthcare deals where international buyer interest is high.
Recent Deals: Active in pharma, biotech, medical devices, and healthcare services M&A through 2025-2026 with global buyer access and LA office presence.
LinkedIn: Jefferies on LinkedIn
Sector Focus: Pharma, biotech, medical devices, healthcare services, health IT
Deal Type: Both
Deal Size: $100M-$5B+
Location: Los Angeles, CA (office, global network)
Website: jefferies.com
9. Raymond James (Healthcare)
Raymond James covers healthcare services, physician groups, home health, and specialty pharma with a research-informed advisory approach. Their LA office serves mid-market healthcare founders at deal sizes from $25M to $1B. Raymond James pairs sell-side M&A advisory with equity research to give founders complete buyer market visibility before going to market.
Recent Deals: Active in healthcare services and physician group M&A through 2025-2026 with West Coast coverage and a dedicated LA team.
LinkedIn: Raymond James on LinkedIn
Sector Focus: Healthcare services, physician groups, home health, specialty pharma, long-term care
Deal Type: Both
Deal Size: $25M-$1B+
Location: Los Angeles, CA (West Coast office, national network)
Website: raymondjames.com
10. M&A Healthcare Advisors
M&A Healthcare Advisors (MAHA) is a Los Angeles-based boutique advisory firm focused exclusively on the lower-middle market healthcare sector. They specialize in sell-side representation for healthcare services businesses under $100M in transaction value. In January 2025, MAHA announced the sale of Greater Boston Long Term Care Pharmacy, a leading provider of pharmacy services to community-based group homes.
Recent Deals: Advised Greater Boston Long Term Care Pharmacy on its sale to a strategic acquirer (January 2025). Active in lower-middle market healthcare services M&A through 2025-2026.
LinkedIn: M&A Healthcare Advisors on LinkedIn
Sector Focus: Lower-middle market healthcare services, pharmacy, home health, physician practices, behavioral health
Deal Type: Sell-side
Deal Size: $5M-$100M
Location: Los Angeles, CA (headquarters)
Website: mahealthcareadvisors.com
11. FOCUS Investment Banking
FOCUS Investment Banking has a corporate office in the Los Angeles metro area and has closed 130+ healthcare transactions over the last decade. Their healthcare practice covers provider services, animal health, distribution, pharmacy, laboratory and diagnostics, and health technology. FOCUS works with founder-owned and PE-backed healthcare businesses across both sell-side and buy-side engagements.
Recent Deals: Closed 130+ healthcare transactions over the last decade. Active in healthcare services, provider services, pharmacy, and health IT M&A through 2025-2026.
LinkedIn: FOCUS Investment Banking on LinkedIn
Sector Focus: Healthcare services, provider services, pharmacy, diagnostics, health technology, animal health
Deal Type: Both
Deal Size: $5M-$250M
Location: Los Angeles, CA (metro area office, national network)
Website: focusbankers.com
12. American Healthcare Capital
American Healthcare Capital (AHC) is a healthcare-focused M&A advisory firm covering home health, hospice, behavioral health, physician practices, and urgent care. Their dedicated healthcare focus gives LA founders access to a buyer network built exclusively around healthcare acquirers. AHC works with both founder-owned businesses and PE-backed platforms on sell-side and buy-side engagements.
Recent Deals: Active in home health, hospice, behavioral health, and physician practice M&A through 2025-2026 with a dedicated healthcare buyer network.
LinkedIn: American Healthcare Capital on LinkedIn
Sector Focus: Home health, hospice, behavioral health, physician practices, urgent care, assisted living
Deal Type: Both
Deal Size: $5M-$200M
Location: Los Angeles, CA (West Coast coverage)
Website: americanhealthcarecapital.com
HIPAA compliance in healthcare M&A diligence
HIPAA compliance documentation is the most common cause of healthcare deal delays in Los Angeles. Buyers who find compliance gaps after LOI reprice the deal or walk.
Your advisor needs to run a HIPAA readiness review before the sale process starts. Missing Business Associate Agreements (BAAs), unsecured PHI, or outdated privacy policies create deal risk. Identify and fix compliance gaps before buyers find them.
Build your compliance documentation before the sale process starts. Log your HIPAA policies, BAA history, and incident response records in your data room from day one.
Use Ellty to share your compliance documentation through secure file sharing tools. Healthcare buyers who find complete compliance files move to LOI without repricing conversations.
Read the types of M&A transactions guide to understand how asset sales vs. stock sales affect healthcare licenses and payor contracts differently.
What PE buyers look for in healthcare diligence
PE firms acquiring healthcare businesses in 2026 focus on three things: payor mix and revenue quality, physician retention risk post-close, and regulatory compliance track record.
Revenue concentration in commercial payors commands the highest multiples. Medicare and Medicaid-heavy businesses face more reimbursement rate risk and payor policy volatility that buyers price in.
Ask your advisor which PE platforms are running active healthcare consolidation programs right now. The ambulatory surgery, behavioral health, and home infusion sectors all saw significant PE platform activity in 2025.
Use Ellty's investor relations tools to keep your financial data organized and accessible for healthcare PE buyers throughout the diligence process.
How physician retention affects deal value
Physician retention post-close is one of the biggest value drivers in physician practice acquisitions. Buyers discount deals where key physicians have no post-close employment agreements.
Get employment agreement language in front of your key physicians before you start the sale process. Buyers who find unsigned physicians at LOI reprice the deal or walk.
Your advisor should coach you on physician communication timing. Telling physicians about a sale too early creates retention risk. Telling them too late creates integration risk.
Use Ellty's team collaboration tools to coordinate your advisor, legal team, and management team through the process without leaving a paper trail that reaches physician staff prematurely.
How Ellty helps you close a healthcare M&A deal in Los Angeles
Once you have your advisor, organize your compliance records and payor contracts. LA healthcare buyers check HIPAA documentation before making a bid.
- 1.Upload contracts, licenses, and compliance recordsAdd payor contracts and HIPAA compliance files before buyer outreach.
- 2.Stage access by NDA tier and buyer typeControl who sees patient data agreements and compliance records.
- 3.Track buyer document activity in real timeSee which buyers review your payor contracts before sending management presentations.
Common questions about Los Angeles healthcare M&A advisors
- CriticalPoint and M&A Healthcare Advisors are both Los Angeles-headquartered firms with dedicated healthcare M&A practices. CriticalPoint covers deals from $10M to $500M; MAHA focuses on lower-middle market deals under $100M.
- Expect five to eight months. CMS change-of-ownership (CHOW) notifications and state licensing transfers can add two to four months to the timeline.
- Payor mix and revenue quality, physician retention risk post-close, and regulatory compliance track record are the top three diligence areas for healthcare PE buyers.
- Most Medicare and Medicaid provider acquisitions require CHOW notification. Your advisor and healthcare counsel should determine notification requirements for your specific license types before LOI.
- Expect 3-5% for deals under $50M and 1-3% for deals above $100M, with minimum fees common for smaller lower-middle market transactions.
- Before your first advisor meeting. Load payor contracts, HIPAA compliance records, and physician employment agreements so buyers don't find gaps in diligence.
