
Average EBITDA Multiples for Healthcare and Medical Practices
EBITDA multiples for healthcare and medical practices typically range from about 3×–7× for smaller offices to 10×–15×+ for larger, multi-site or platform-level groups, with top specialties like dermatology, cardiology, and ophthalmology sometimes reaching 20×. Valuations climb meaningfully with scale, strong commercial payer mix, and owned ancillaries (ASCs, labs, imaging), while heavy government reimbursement and weaker earnings quality pull multiples down, contributing to a reset in median healthcare services multiples to ~11.5× in 2025 (down from 14.5× in 2024).

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