
Excel Health has acquired Journey Surgery Center.
Headquartered in Honolulu, Hawaii, Excel Health isn’t the typical surgery center buyer. Broadly, Excel Health’s business model pairs medical services with tourism, with Excel’s centers offering surgical care and personalized treatments in some of the nation’s most beautiful locations.
Based in Aliso Viejo, California, Journey Surgery Center specializes in minimally invasive spine, pain management and orthopedic procedures.
“We are thrilled to welcome Journey Surgery Center into the Excel Health family,” David Flickinger, CEO of Excel Health, said in a press release. “This acquisition represents a significant milestone in our mission to transform the health care experience by delivering exceptional surgical care in the most desirable locations.”
The acquisition jump-starts Excel Health’s entry into the Southern California market, further expanding the company’s network of U.S. health care facilities. In addition to locations in Honolulu and, now, Aliso Viejo, Excel Health has a wellness center in Seattle.
Financial terms of the transaction were not disclosed.
“As we expand into Southern California, we are committed to providing the community with unparalleled care that combines the latest advancements in minimally invasive procedures, regenerative medicine and patient-centered services,” Flickinger continued.
Prior to Excel Health, Flickinger held sales- and M&A-related roles at Medtronic and NuVasive, respectively. After NuVasive, he joined Medicrea, a spine technology startup that eventually sold to Medtronic in 2020 for $158 million.
In 2020, Flickinger also started Doc Social, a platform aimed at enhancing physician education and collaboration.
Other members of the Excel Health leadership team include Chief Medical Officer Dr. Jeffrey Roh, whose experience includes being a partner at Advanced Neurosurgery of Hawaii and the CEO of IntuitiveX, a life science consultancy and incubator.
“The acquisition of Journey Surgery Center aligns perfectly with our unwavering commitment to clinical excellence and patient-focused care,” Roh said in the release. “Our team of skilled surgeons and medical professionals look forward to serving the Southern California community with the most advanced surgical techniques and technologies.”
Dealmaking activity in the ambulatory surgery center (ASC) space has remained active in 2024, though somewhat damped due to persistently high interest rates and inflationary pressures.
In June, Spire Orthopedic Partners, a national orthopedic platform, announced a strategic partnership with Ortho Rhode Island and its ambulatory surgery center.
Also in June, AMSURG and Comprehensive EyeCare Partners teamed up to buy Alta Rose Surgery Center in Las Vegas, Nevada.
Additionally, in May, the private equity-backed Capitol Pain Institute acquired Pain Care Surgery of Louisville.
M&A experts anticipate ASC transaction activity to remain robust for the foreseeable future, as the U.S. health care sector as a whole searches for ways of lowering costs and patients demand more personalized care delivered outside of the traditional hospital setting.
“As ASCs have become more common and important care settings for a greater diversity of outpatient surgical procedures, the sector has become a hotbed of dealmaking,” a recently released white paper from M&A advisory firm Mertz Taggart explains. “Investors expect the explosive growth of ASCs to continue in the years ahead, driven by several megatrends that are shaping the future of the U.S. health care system.”