Atlas
Back to PPM Roll-Ups
Investment Banker·PPM Roll-Ups

Dustin Thompson

Managing Director at Provident Healthcare Partners

Boston, MA

DT
LinkedIn
Why they matter

A 13-year Provident MD who has run primary care, oncology, and dermatology roll-up sell-sides, giving him live pricing and buyer intel across physician practice verticals.

Background

Dustin Thompson, CPA, is a Managing Director at Provident Healthcare Partners, a Boston-based healthcare-focused investment bank, where he has worked since 2013 and manages sell-side transactions across primary care, oncology, dermatology, behavioral health, and home health verticals. Before Provident he worked in healthcare advisory at Crowe Horwath, serving physician groups, hospitals, and health systems nationally, and holds a B.S. in Accounting and Finance from Miami University.

Notable deals

  • 2026
    Advised Palmetto Primary Care Physicians (35 South Carolina clinics) on its $111M acquisition by MUSC Health
  • 2026
    Led Provident's deal team advising Chesapeake Oncology-Hematology Associates on its recapitalization with Chesapeake Urology Associates / OneOncology
  • 2025
    Co-led Provident's advisory team for The Dermatology Center, PA in its partnership with Epiphany Dermatology
  • 2021
    Advised Family Care Partners (North Florida primary care group) on its partnership with InnovaCare Health, a Summit Partners portfolio company

Call-prep brief

Dustin Thompson — Managing Director, Provident Healthcare Partners

Background

  • CPA with prior healthcare advisory experience at Crowe Horwath, serving physician groups and health systems nationally
  • Joined Provident in 2013; promoted through SVP → Director → Managing Director over ~12 years
  • B.S. Accounting and Finance, Miami University

Current focus

  • Sell-side M&A across physician practice verticals: primary care, oncology/hematology, dermatology, behavioral health, home health/hospice, CROs
  • Runs full deal lifecycle — positioning, buyer targeting, valuation, diligence, closing

What he cares about

  • Clinical quality and patient-centered models as value drivers (per his Palmetto quote)
  • Platform integration stories (e.g., oncology-urology combination) that support premium multiples
  • Repeat relationships with strategic acquirers (MUSC Health, OneOncology, Epiphany, InnovaCare)

Recent moves

  • Palmetto Primary Care Physicians $111M sale to MUSC Health (2026)
  • Chesapeake Oncology-Hematology Associates recap with Chesapeake Urology/OneOncology (2026)

Potential sensitivities

  • Bound by client confidentiality on live/recent mandates — won't discuss unannounced deal terms
  • May be cautious discussing valuation multiples directly; better to ask about market dynamics generally

Questions to ask

  1. Where are strategic vs. PE-backed buyers currently paying up for physician practice platforms, and where has that gap narrowed?
  2. What operational or payer-mix traits are making primary care and oncology assets harder or easier to sell right now?
  3. How are integration structures (e.g., combining oncology and urology under one platform) changing how sponsors underwrite these deals?

Outreach draft

Subject
Physician practice roll-up market perspective
Hi Dustin, I'm reaching out on behalf of a private equity team studying consolidation trends in physician practice management, particularly primary care and specialty roll-ups. Your recent work on the Palmetto Primary Care and Chesapeake Oncology-Hematology transactions caught our attention as strong examples of how platforms are being positioned for strategic buyers. We'd value 20-30 minutes of your perspective on current buyer appetite, valuation dynamics, and what's separating attractive assets from the rest in today's market. Happy to work around your schedule, and of course compensate for your time through an expert network if that's easier on your end. Would you have availability in the next couple of weeks? Best, [Placeholder Name]

Linked companies

Sources