11 M&A advisors active in Seattle healthcare deals in 2026. Covers physician groups, behavioral health, digital health, and health systems with firm profiles and recent deals.
Seattle's healthcare sector runs deeper than most sellers expect. Providence, UW Medicine, and MultiCare anchor a dense regional market.
Behavioral health M&A climbed 42% in 2025 nationally. Washington state drew PE buyers chasing physician and therapy platform deals.
Digital health and health tech targets move faster in competitive processes. Seattle's tech talent base makes those assets attractive to strategic buyers.
Set up a virtual data room before your first advisor call. Healthcare buyers want organized financials and compliance docs from day one.
| Firm | Deal Type | Deal Size | Sector Focus | Website | |
|---|---|---|---|---|---|
| Houlihan Lokey | Houlihan Lokey | Both | $50M - $5B | Healthcare, Physician Services, Digital Health | hl.com |
| Cain Brothers | Cain Brothers | Both | $25M - $2B | Healthcare, Physician Services, Health Systems | key.com/cain-brothers |
| Provident Healthcare Partners | Provident Healthcare Partners | Sell-side | $10M - $300M | Behavioral Health, Physician Groups, Home Care | providenthp.com |
| VERTESS | VERTESS | Both | $5M - $150M | Behavioral Health, Home Care, DME, Dental | vertess.com |
| TripleTree | TripleTree | Both | $25M - $500M | Health Tech, Digital Health, Healthcare Services | triple-tree.com |
| Kaufman Hall | Kaufman Hall | Both | $50M - $5B | Health Systems, Hospitals, Academic Medical Centers | kaufmanhall.com |
| Juniper Advisory | Juniper Advisory | Both | $50M - $2B | Non-profit Hospitals, Health Systems | juniperadvisory.com |
| VMG Health | VMG Health | Both | $10M - $500M | Healthcare Services, Physician Groups, ASCs | vmghealth.com |
| Ziegler | Ziegler | Both | $10M - $500M | Physician Groups, Senior Living, Non-profit Health | ziegler.com |
| FOCUS Investment Banking | FOCUS Investment Banking | Both | $10M - $300M | Healthcare, Technology, Business Services | focusbankers.com |
| Piper Sandler | Piper Sandler | Both | $50M - $5B | Healthcare, Digital Health, Financial Services | pipersandler.com |
How to verify an advisor's track record
Ask for a closed deal list in your sub-sector. A behavioral health boutique won't reach the same buyers as a hospital specialist.
Advisors who know Seattle name Providence, UW Medicine, and MultiCare. Generic Pacific Northwest references won't hold up on a reference call.
Check how many deals they closed in the last 24 months. A firm with 8 closed healthcare mandates beats one with 20 pitches and 10 closings.
Use Ellty to share your financials with shortlisted advisors under NDA. You'll see who opens your files before your first call. Browse the M&A guide for deal structure basics. See the Seattle M&A advisors guide for cross-sector context. Read the due diligence guide to prep your docs early.
Running a Seattle healthcare deal?
Share financials with buyers under NDA. Track who opens them first.
Start free 14-day trialHow a Seattle healthcare deal runs
Seattle healthcare deals close in four to eight months. Digital health and physician groups with clean compliance records move faster.
| Stage | What happens | What you need ready | |
|---|---|---|---|
| Stage 1: Preparation | Stage 1: Preparation | Run QoE, build CIM, shortlist advisors by sub-sector | Three years P&L, patient revenue mix, key contracts |
| Stage 2: Advisor engagement | Stage 2: Advisor engagement | Sign engagement letter, align on buyer list | Cap table, compliance records, physician contracts |
| Stage 3: Marketing | Stage 3: Marketing | CIM sent to buyers, NDAs signed, meetings set | Ellty data room live with CIM and financial docs |
| Stage 4: LOI | Stage 4: LOI | Buyers submit bids, LOIs negotiated, exclusivity signed | Clean revenue data, no open compliance issues |
| Stage 5: Due diligence | Stage 5: Due diligence | Buyer reviews contracts, financials, compliance docs | Full Ellty data room: contracts, financials, licenses |
| Stage 6: Close | Stage 6: Close | Purchase agreement signed, funds transfer | Reps and warranties signed, transition plans ready |
11 Seattle healthcare M&A advisors
These 11 firms advise on healthcare M&A in the Seattle region. Coverage spans physician groups, behavioral health, digital health, and health systems.
1. Houlihan Lokey
The #1 M&A advisor globally in 2025 with a large dedicated healthcare banking team.
Recent Deals: Ranked #1 globally in M&A with 318 transactions in 2025. Ranked #1 in healthcare M&A advisory for sub-$1B deals. Active in physician services, behavioral health, and digital health through 2025 and 2026. Covers PE-backed and founder-owned businesses nationally.
LinkedIn: Houlihan Lokey LinkedIn
Sector Focus: Healthcare, physician services, digital health, life sciences
Deal Type: Both
Deal Size: $50M - $5B
Location: National (active in Seattle healthcare)
Website: hl.com
2. Cain Brothers
The broadest dedicated healthcare-services banking platform of any US investment bank.
Recent Deals: Advised on FHN affiliation with Mercyhealth (signed Sept 2025, closed Dec 2025). Advised on US Fertility recapitalization in 2025. Covers providers, payors, healthcare IT, and pharma services. Active in health system and physician group M&A through 2026.
LinkedIn: Cain Brothers LinkedIn
Sector Focus: Health systems, physician groups, payors, healthcare IT
Deal Type: Both
Deal Size: $25M - $2B
Location: National (active in Seattle healthcare)
Website: key.com/cain-brothers
3. Provident Healthcare Partners
A sell-side specialist for physician groups and behavioral health with a strong 2025 track record.
Recent Deals: Created 8 new healthcare platforms in 2025. Won Outstanding M&A Investment Bank at the 2025 M&A Atlas Awards. Advised on Meperia sale to Diversis Capital (Nov 2025). Advised on CPS Infusion sale to Seven Hills Capital (Sept 2025).
LinkedIn: Provident Healthcare Partners LinkedIn
Sector Focus: Behavioral health, physician groups, home care, infusion
Deal Type: Sell-side
Deal Size: $10M - $300M
Location: National (active in Seattle healthcare)
Website: providenthp.com
4. VERTESS
A healthcare-only M&A firm named #1 lower-middle-market sell-side advisor by Axial in 2024.
Recent Deals: Closed four healthcare transactions in Dec 2025 and Jan 2026. Advised on Gammie HomeCare sale to AdaptHealth (Jan 2026). Active in behavioral health, DME, home care, and dental M&A. Works with founder-owned businesses in the $5M-$150M range.
LinkedIn: VERTESS LinkedIn
Sector Focus: Behavioral health, home care, DME, dental, pharmacy
Deal Type: Both
Deal Size: $5M - $150M
Location: National (active in Seattle healthcare)
Website: vertess.com
5. TripleTree
A healthcare investment bank acquired by Capital One, focused on health tech and services.
Recent Deals: Advised on Edifecs acquisition by Cotiviti (Feb 2025). Has advised 275+ M&A transactions since 1997. Active in health tech, digital health, and healthcare services M&A through 2026. Covers PE-backed and founder-owned businesses nationally.
LinkedIn: TripleTree LinkedIn
Sector Focus: Health tech, digital health, healthcare services, pharma tech
Deal Type: Both
Deal Size: $25M - $500M
Location: National (active in Seattle healthcare)
Website: triple-tree.com
Selling a Seattle healthcare business?
Set up your data room before advisor outreach. Track who opens it.
Start free 14-day trial6. Kaufman Hall
A national healthcare advisory firm covering hospital systems and major health partnerships.
Recent Deals: Advised on New York's Health Care Safety Net Transformation Program (Oct 2025). Over $2.6B in six new hospital partnerships in that program alone. Covers health systems, hospitals, and academic medical centers nationally. Active in large-scale hospital M&A through 2025 and 2026.
LinkedIn: Kaufman Hall LinkedIn
Sector Focus: Health systems, hospitals, academic medical centers
Deal Type: Both
Deal Size: $50M - $5B
Location: National (active in Seattle healthcare)
Website: kaufmanhall.com
7. Juniper Advisory
A specialized advisor focused exclusively on non-profit hospital and health system partnerships.
Recent Deals: Announced three new partners in 2025 to expand advisory capacity. Active in non-profit hospital affiliations, mergers, and joint ventures nationally. Covers health systems seeking strategic partnerships and capital solutions. Active in Pacific Northwest hospital M&A through 2025 and 2026.
LinkedIn: Juniper Advisory LinkedIn
Sector Focus: Non-profit hospitals, health systems, affiliations
Deal Type: Both
Deal Size: $50M - $2B
Location: National (active in Seattle healthcare)
Website: juniperadvisory.com
8. VMG Health
A healthcare transactions specialist covering physician group and ASC M&A since 1995.
Recent Deals: Active in healthcare M&A across all sectors through 2025 and 2026. Covers physician groups, ambulatory surgery centers, and joint ventures. Works with health systems and PE-backed businesses on buy-side and sell-side mandates. Provides valuation and transaction advisory to Pacific Northwest clients.
LinkedIn: VMG Health LinkedIn
Sector Focus: Healthcare services, physician groups, ASCs, joint ventures
Deal Type: Both
Deal Size: $10M - $500M
Location: National (active in Seattle healthcare)
Website: vmghealth.com
9. Ziegler
A national specialist in physician group M&A with $6B+ in completed PPM transactions.
Recent Deals: Represented $6B+ in physician practice management M&A transactions. Active in physician group, senior living, and non-profit health M&A through 2025 and 2026. Covers both sponsor-backed and privately-owned physician groups. Active in Pacific Northwest healthcare M&A through 2025 and 2026.
LinkedIn: Ziegler LinkedIn
Sector Focus: Physician groups, senior living, non-profit health systems
Deal Type: Both
Deal Size: $10M - $500M
Location: National (active in Seattle healthcare)
Website: ziegler.com
10. FOCUS Investment Banking
A lower middle market bank with a dedicated healthcare M&A advisory practice.
Recent Deals: Active in healthcare advisory covering physician practices and ambulatory care. Covers healthcare services companies in the $10M-$300M range on sell-side transactions. Senior team brings direct sector expertise to buyer outreach and deal execution. Active in healthcare M&A through 2025 and 2026.
LinkedIn: FOCUS Investment Banking LinkedIn
Sector Focus: Healthcare, technology, business services, managed services
Deal Type: Both
Deal Size: $10M - $300M
Location: National (active in Seattle healthcare)
Website: focusbankers.com
11. Piper Sandler
A national bank with strong healthcare and digital health M&A coverage through 2026.
Recent Deals: Posted $14.09B in transaction value with 36 deals in Q1 2026 per FactSet. Active in healthcare, digital health, and financial services M&A nationally. Covers PE-backed and founder-owned healthcare businesses on exits. Strong in healthcare M&A through 2025 and 2026.
LinkedIn: Piper Sandler LinkedIn
Sector Focus: Healthcare, digital health, financial services, consumer
Deal Type: Both
Deal Size: $50M - $5B
Location: National (active in Seattle healthcare)
Website: pipersandler.com
Who buys Seattle healthcare companies
Seattle draws PE sponsors, regional health systems, and digital health strategics. Providence is divesting assets in 2025 and 2026, creating buyer opportunities.
PE buyers focus on behavioral health and physician group platforms. They check compliance records and payer mix before LOI.
Strategics look for technology integration and care delivery expansion. A Seattle behavioral health platform with clean billing draws premium bids.
Use Ellty to share your financial model and contracts with each buyer group separately. Set granular permissions so PE sponsors don't see health system offer terms. Read the private equity guide to understand how PE buyers evaluate healthcare deals. See the Seattle M&A advisors guide for cross-sector context.
What buyers check in Seattle healthcare diligence
Revenue quality and payer mix come first. Buyers discount if more than 40% of revenue sits with one payer.
Compliance and licensing follow immediately. Buyers check HIPAA history, billing practices, and state licensing in week one.
For behavioral health, patient retention and clinical staff agreements surface early. Buyers check key provider dependency before LOI.
Use Ellty to share financial models, compliance records, and contracts in one trackable room. You'll see which buyers reviewed key files before the management meeting. See the features page to understand what buyers expect in a data room. Read the due diligence guide to prep your documents before the process starts.
Providence divestitures and Seattle deal flow in 2026
Providence is actively divesting assets in 2026, including hospitals, a home health venture, and its insurance plan. This creates real acquisition targets in the Pacific Northwest.
Providence sold its health IT arm Tegria to Altaris in January 2026. Its home health services moved into a Compassus joint venture in October 2025.
PE sponsors and strategics are watching Providence's portfolio closely. Sellers in the Pacific Northwest benefit from that active buyer attention.
Use Ellty to share your patient revenue data and physician contracts under NDA. Trackable links let you control what each buyer sees. See the investor relations page for how to organize materials for sponsor review. Read the San Diego healthcare M&A advisors guide for context on another active West Coast market.
How Ellty helps you close an M&A deal in Seattle
You've picked your Seattle healthcare advisor. Set up your data room next. Get buyers reviewing files fast.
- 1.Upload financials, compliance docs, and contractsOrganize by type. Healthcare buyers check revenue and compliance first.
- 2.Set access by buyer type and NDA statusPE sponsors and health system buyers need different document packages.
- 3.Track who reviews your key filesSee which buyers open your revenue model and how long they spend.
Common questions about Seattle healthcare M&A advisors
- Behavioral health, physician groups, and digital health draw the most buyer interest. Home care and health tech also see active deal flow in 2025 and 2026.
- National firms like Houlihan Lokey and Cain Brothers reach more PE platforms. Specialists like Provident and VERTESS know the healthcare buyer market deeply.
- Most deals close in four to eight months. Digital health and physician groups with clean compliance records can move faster in competitive processes.
- Revenue quality and payer mix come first. Compliance history and physician retention agreements surface in week one of diligence.
- Before your first advisor call. Buyers want organized financials, compliance records, and contracts from day one of the process.
- VERTESS, FOCUS Investment Banking, and Provident Healthcare Partners all work in the lower middle market for healthcare services.
