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What is a health care or fitness business worth? Limited data

No benchmark with quartiles is published for health care and fitness businesses as one group. The types below have their own figures where they exist; where they don't, the calculator uses all service businesses: 1.75x to 3.13x SDE, median 2.38x. ^[1]

Last verified October 24, 2026

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What multiple do health care and fitness businesses sell for?

Lower quartile

1.75x

Median

2.38x

Upper quartile

3.13x

Times seller's discretionary earnings (SDE). All service businesses, BizBuySell, sales 2021–2025; 5,839 sales.

Based on all service businesses: no published quartiles for this group.

SDE is the profit one owner takes out of the business: pre-tax profit plus one owner's pay and perks, interest, depreciation and one-time costs. How we calculate it.

Limited data. BizBuySell publishes no quartiles for this group as a whole. Treat these figures as provisional.

What raises the value of health care and fitness businesses?

• Recurring or repeat-visit revenue above 65% adds about 0.5–1.5 turns. ^[2]

What lowers the value of health care and fitness businesses?

• Medicaid above 30%, or one payer above 40%, costs about 1.0–2.5 turns. ^[2]
• A founding clinician producing more than 40% of revenue costs about 1.0–2.5 turns. ^[2]
• One referral source above 25% of new patients costs about 0.5–1.5 turns. ^[2]
• Strict corporate-practice-of-medicine states cost about 0.25–0.75 turns at platform scale. ^[2]

What is the market for health care and fitness businesses like?

• GF Data healthcare services 7.7x TEV/EBITDA (2026, $10M+ PE deals). ^[3]

Which types of business does this cover?

Each type uses its own published quartiles where they exist; the rest use the broader category, and the table says which.

Low and high are the lower and upper quartiles: the middle half of sales. Figures are BizBuySell, businesses sold 2021–2025.

Veterinary clinics

Based on the broader category (All service businesses): no published quartiles for veterinary clinics.

Lowers value:

• Lower multiples for solo, emergency/overnight and specialty practices, dependence on one high producer, rural locations and run-down facilities. ^[4]

Market notes:

• Advisor or broker estimate (not used in the calculator): Single location under $1M SDE: 2.0x–3.4x SDE (advisor). ^[2]
• AmeriVet's platform exit 'exceeded over 20x' EBITDA (one platform, not a benchmark); some consolidators sidelined by rates. ^[4]

Value a veterinary clinics business

Physical therapy

Based on the broader category (All service businesses): no published quartiles for physical therapy.

Market notes:

• Advisor or broker estimate (not used in the calculator): Under $1M SDE: 1.9x–3.1x SDE (advisor). ^[2]
• Public anchor: USPH about 7.2x on 26 clinic deals (FY2025 10-K, via CT). ^[2]

Value a physical therapy business

Optometry

Based on the broader category (All service businesses): no published quartiles for optometry.

Market notes:

• Advisor or broker estimate (not used in the calculator): Under $1M SDE: 1.9x–3.2x SDE (advisor). ^[2]
• Consolidators: MyEyeDr, EyeCare Partners, Vision Innovation Partners. ^[2]

Value a optometry business

Med spas

Based on the broader category (All service businesses): no published quartiles for med spas.

Market notes:

• Advisor or broker estimate (not used in the calculator): Under $1M SDE: 1.8x–3.2x SDE (advisor). ^[2]

Value a med spas business

Behavioral health

Based on the broader category (All service businesses): no published quartiles for behavioral health.

Market notes:

• Advisor or broker estimate (not used in the calculator): Under $1M SDE: 1.9x–3.0x SDE (advisor). ^[2]

Value a behavioral health business

Medical practices

Based on the broader category (All service businesses): no published quartiles for medical practices.

Value a medical practices business

Assisted living & nursing

Based on the broader category (All service businesses): no published quartiles for assisted living & nursing.

Value a assisted living & nursing business

How should you use these numbers?

Multiply your SDE by a multiple in the range to get a rough price for the business, not counting real estate. Where you land in the range depends on how much the business depends on you, how much revenue repeats, growth, customer concentration and the other factors in the calculator. Half of all sales land outside the quartile range, so a real deal can go higher or lower.

Where do these numbers come from?