Diligence memo · auto-generated · as of July 3, 2026
Sound Physicians Holdings, LLC
Sound Physicians Holdings, LLC looks under-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Sound Physicians Holdings, LLC operates in Other, based in TACOMA. Clinician-led physician services for hospitals: emergency medicine, hospital medicine, critical care, anesthesia, and accountable care for long-term care and assisted living.
Sector still resolves to a broad 'Other' bucket, so operating comparables below are weaker than for a tightly-classified peer.
Capital & rounds (filed)filed
Sound Physicians Holdings, LLC has raised $1.6B in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Growth/Late (a round over $400M).
Largest single filing: $1.4B on 2018-06-28.
Most recent recorded round closed around 2018-10-01.
Valuation (modeled)modeled
Provath models Sound Physicians Holdings, LLC at approximately $3.6B (range $1.6B–$6.4B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.37× the median modeled value of Growth/Late Other companies in 2016–2018 (26 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 1 months.
Last raise 7.8 yr ago; this sector typically re-raises about every 11 months.
Silent for over 3× the sector's normal cadence.
The last round was 1.7× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 100% of Other peers (25015 compared).
Modeled value ranks above 99% of those peers.
Closest niche peers: Papay Topco, Inc., Advanced Disposal Services, Inc., MB Parent Holdco, L.P., Cersei Topco, Llc, FARMER & THE COWMAN Ltd LIABILITY Co.
Peoplefiled
15 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
Broad sector classification weakens peer comparison.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.