4.10.11.2Vertical

General Surgery Group Practices

Multi-surgeon general surgery practices providing elective and emergent surgical care including appendectomy, cholecystectomy, bowel resection, and soft tissue surgery.

Market snapshot

These figures describe General Surgery Groups (4.10.11), the segment that General Surgery Group Practices sits within — not General Surgery Group Practices on its own.

FragmentationFragmentedEstimate

Within Offices of Physicians (NAICS 621111); the Census Bureau does not split physician offices by specialty, so general surgery is not separately sized.

Business model & economics

Revenue model

Surgical and office reimbursement; ASC participation

Key economics

Recurring revenue
Low

procedure-driven

EBITDA margin
15–25%
Capex intensity
Moderate

Characteristics

  • More hospital-affiliated than procedure-rich specialties.
  • Procedure migration to ASCs.
  • Less active standalone roll-up than GI/ortho/urology.

M&A deal context

Deal activityModerate

Who’s acquiring

  • Multispecialty groups
  • Health-system-aligned platforms
  • ASC-focused acquirers

What’s driving deals

  • Consolidation within multispecialty groups.
  • Surgical-volume and ASC-migration demand.
  • Health-system alignment.

Find General Surgery Group Practices acquisition targets

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