[FY2026 Market Survey for Physicians] 71.0% of Medical Mall Clinics Operate Profitably, Surpassing Solo Clinics, Yet Many Are Simple Aggregation Types; Approximately 90% Lack Common Systems – Iza!

According to the FY2026 market survey for physicians, the profitability rate of clinics located in medical malls was 71.0%, surpassing that of solo clinics. However, many of these remain mere “aggregation types,” and it was found that approximately 90% of clinics have not implemented common systems. This situation raises new challenges regarding the potential value of medical malls and the methods of valuation in M&A and business succession.

The “Quality” of Medical Mall Profitability Influences M&A Valuation

It is noteworthy that the 2026 fiscal year survey revealed a 71.0% profitability rate for clinics located in medical malls, surpassing solo clinics. While this figure indicates the financial health of individual clinics, in the context of M&A and business succession, their “quality” is questioned. The observation that many malls are merely “simple aggregation” types (just gathering together) will likely be a crucial evaluation point for buyers. Beyond mere patient attraction, whether each department within the mall organically collaborates to create concrete synergies such as patient referrals, joint medical equipment procurement, staff training, or shared medical information directly links to increased business value post-M&A. For example, in the succession of a medical corporation without equity interests (such as a fund contribution type), the change of director is central, and it is presumed that the overall operational structure and degree of collaboration within the mall significantly influence its attractiveness to successors or acquisition candidates.

“Lack of Common Systems” Increases Post-M&A Integration Risk

The current situation, where approximately 90% of clinics in medical malls have not implemented common systems, is an undeniable challenge in M&A considerations. If electronic medical records, appointment systems, claims processing systems, and HR/payroll systems are disparate across individual clinics, it will require significant time, cost, and human resources during Post Merger Integration (PMI) after an M&A. Delays in information centralization hinder patient data sharing and medical information collaboration, making efficient group management difficult. This not only can be a discount factor for the transfer price for the selling side but also increases the complexity of the integration plan for the buying side, thereby reducing the success rate of the M&A itself. Especially in responding quickly to medical fee revisions and maintaining/managing increasingly complex facility standards, the presence or absence of system integration directly impacts operational efficiency and the quality of medical care.

Evaluation Criteria for “Group Functions” to Emphasize in Medical Mall M&A

The challenge of “simple aggregation types” implied by this news, conversely, highlights the importance of “group functions” in M&A. What buyers seek is not just the profitability of a single clinic, but organizational strengths that can leverage economies of scale. Specifically, elements mentioned in the news highlights such as “securing human resources through shared recruitment networks,” “improving retention rates through standardized training systems,” and “reducing on-site burden through head office functions like labor, accounting, and IT” are key to post-M&A business growth. The extent to which these functions are established in existing medical malls, or whether they can be easily introduced after acquisition, will significantly influence the M&A valuation and feasibility. If a medical corporation operating multiple clinics manages these functions centrally at its head office, creating a system where each clinic can focus solely on medical care, its business value tends to be highly regarded. In an era where enhanced collaboration is required within regional healthcare visions, whether medical malls function not merely as aggregations but as functional “healthcare clusters” will be a decisive factor in their competitiveness in the future M&A market.

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