Healthcare M&A In 2026: Why Buyers Are Getting Picky
By Wade Emmert
The "buy everything" days of healthcare M&A are over.
In this episode, Wade sits down with Anna Brewer, Partner at JTaylor, to discuss the shifting landscape of healthcare acquisitions. With shrinking margins, increased state regulations, and heightened scrutiny, buyers are using due diligence as a weapon to drive down purchase prices.
Anna explains the fatal flaw of the "asymmetrical negotiation" - where buyer's counsel actively hunts for compliance gaps and messy financials to retrade the Letter of Intent (LOI) - and breaks down exactly what you need to do to get your managed care rates and balance sheets "sale ready" before you ever go to market.
Episode Chapters:
00:00 How I Got Into Healthcare 20+ Years Ago
01:18 Using Data Analytics in Healthcare M&A
02:04 Client Profiles and The Universality of Preparation
04:44 2025/2026 Healthcare M&A Market Outlook
07:43 The Surgery Center Acceleration vs. Private Equity Pickiness
09:48 Regulatory Headwinds and State Scrutiny
12:18 The Economics of Consolidation
13:38 Alternative Revenue Streams (Cash Pay & Med Spa)
16:25 Burnout and Administrative Burden
17:41 The ASC Runway for Surgeons
18:56 The Shift to Hospital Joint Ventures
21:31 Complexity and Risk Management in JVs
22:37 Mutual Dependence in Healthcare Partnerships
25:50 Anna’s "Sale-Ready" Checklist
28:53 Buy-Side Scrutiny vs. Sell-Side Due Diligence
31:49 Binding LOIs and Retrading EBITDA
34:17 Private Equity Preference for Advising Teams
35:37 How to Contact Anna Brewer
By Wade Emmert
The "buy everything" days of healthcare M&A are over.
In this episode, Wade sits down with Anna Brewer, Partner at JTaylor, to discuss the shifting landscape of healthcare acquisitions. With shrinking margins, increased state regulations, and heightened scrutiny, buyers are using due diligence as a weapon to drive down purchase prices.
Anna explains the fatal flaw of the "asymmetrical negotiation" - where buyer's counsel actively hunts for compliance gaps and messy financials to retrade the Letter of Intent (LOI) - and breaks down exactly what you need to do to get your managed care rates and balance sheets "sale ready" before you ever go to market.
Episode Chapters:
00:00 How I Got Into Healthcare 20+ Years Ago
01:18 Using Data Analytics in Healthcare M&A
02:04 Client Profiles and The Universality of Preparation
04:44 2025/2026 Healthcare M&A Market Outlook
07:43 The Surgery Center Acceleration vs. Private Equity Pickiness
09:48 Regulatory Headwinds and State Scrutiny
12:18 The Economics of Consolidation
13:38 Alternative Revenue Streams (Cash Pay & Med Spa)
16:25 Burnout and Administrative Burden
17:41 The ASC Runway for Surgeons
18:56 The Shift to Hospital Joint Ventures
21:31 Complexity and Risk Management in JVs
22:37 Mutual Dependence in Healthcare Partnerships
25:50 Anna’s "Sale-Ready" Checklist
28:53 Buy-Side Scrutiny vs. Sell-Side Due Diligence
31:49 Binding LOIs and Retrading EBITDA
34:17 Private Equity Preference for Advising Teams
35:37 How to Contact Anna Brewer