Allergy & Immunology
Allergy and clinical immunology practices providing testing, immunotherapy, and asthma management services.
- 5
- Verticals
Overview
Allergy & Immunology practices provide testing, immunotherapy, and asthma-management services. Immunotherapy (allergy shots and increasingly biologics) provides recurring, in-office revenue that supports attractive practice economics and emerging consolidation.
Demand is supported by rising allergy and asthma prevalence and the growth of biologic therapies for severe allergic and respiratory conditions. It is a fragmented specialty seeing early MSO and PE roll-up interest.
Market snapshot
Within Offices of Physicians (NAICS 621111); the Census Bureau does not split physician offices by specialty, so allergy and immunology is not separately sized.
Business model & economics
Revenue model
Testing, immunotherapy, and biologic-infusion reimbursement
Key economics
- Recurring revenue
- High
- EBITDA margin
- 18–28%
- Capex intensity
- Low
recurring immunotherapy visits
Characteristics
- Recurring in-office immunotherapy revenue.
- Rising allergy/asthma prevalence and biologics.
- Early MSO and PE roll-up interest.
M&A deal context
Who’s acquiring
- Emerging allergy MSO platforms
- PE-backed consolidators
- Multispecialty acquirers
What’s driving deals
- Emerging allergy roll-up.
- Allergy/asthma and biologics demand.
- Recurring immunotherapy economics.
Verticals in this segment
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