A new investor has entered the pediatrics landscape. With the acquisition of five pediatric practices over the last few months, Playground Pediatrics has expanded its presence in four states and strengthened its position as a leading pediatrics provider.
Since October 2025, it has acquired Cobb Pediatrics in Georgia, Purcell Pediatrics in North Carolina, Kids Kare Pediatrics and Smyrna Pediatrics in Tennessee and PAK Pediatrics in Pennsylvania.
The LevinPro HC team spoke with Kevin Rogus, Chief Development Officer of Playground Pediatrics, about the transactions and the company’s acquisition strategy.
A portfolio company of Norwest Venture Partners since 2024, Playground operates as a management services organization that supports pediatric practices by handling non‑clinical operations while physicians retain full clinical autonomy. It has eight practices under its umbrella, spanning Tennessee, Pennsylvania, North Carolina and Georgia.
While Playground had previously partnered with other practices, the partnership with PAK Pediatrics kicked off an aggressive acquisition streak.
“Playground’s growth has been driven by ongoing demand for pediatric care and a clear need for better access for families,” he said, referring to the sudden uptick in acquisition activity. “Playground has grown deliberately, focusing on strengthening established practices and expanding access where it already exists, rather than pursuing rapid expansion or reacting to broader economic cycles.”
Research studies echo with Rogus’ commentary. According to an analysis by the National Academy for State Health Policy, demand for pediatric services is increasing, but the pediatric workforce is shrinking. With a shrinking workforce, many pediatric networks have begun consolidating to position themselves as the patients’ go-to networks. As a result, M&A deal activity is on the rise.
Pediatric practices have been popular targets for investors this year, with 10 deal announcements through the second week of May, according to our LevinPro HC platform, outpacing the five reported in the same time frame in 2025. Additionally, throughout 2024, only four pediatric deals were announced.
Additionally, Playground’s activity has positioned them as a major player in the market. The only other investor to have announced more than one deal in 2026 is Pediatricia Health Group, a portfolio company of M33 Growth, which reported two deals.
In addition to private equity’s interest in the pediatric space, health systems have also attracted market attention. In 2026, three health systems purchased pediatric practices: Cincinnati Children’s Hospital acquired Springboro Pediatrics; Dayton Children’s bought Mercy Health’s pediatric practice and rehabilitation services; and NYU Langone Health acquired Pediatric Associates of NYC, PC.
Interest from health systems in the pediatric market plays into the rise and importance of value-based care. Pediatrics, as the first specialized care a person receives, serves as an entry point for physicians to connect patients to their networks. By adding more practices to its portfolio, Playground is making itself a viable competitor.
While M&A strategies from some other PE-backed platforms focus on reach, expanding into different markets across the country, Rogus said his organization is taking a different approach.
“Geography is an important part of how Playground thinks about growth,” commented Rogus. “The current focus is on building density and depth across the four states where Playground already operates.”
While expanding into untapped markets is not Playground’s focus, Rogus did note that if the conditions are attractive and it makes sense, the company would consider it.
“Expansion will always be secondary to doing the current work well,” he said.
Lastly, Rogus addressed the influx of AI into healthcare spaces, offering an optimistic perspective. He noted that Playground has already integrated AI into “scheduling, reporting, revenue cycle management and back-office functions” without any patient pushback.
“The real opportunity lies not in layering tools onto existing processes but in reconfiguring how work is done at a system level, redesigning roles and workflows from the ground up,” he said. “If a tool earns their confidence that it raises the standard of care and supports better outcomes, that is the basis for moving forward.”
