Beacon’s big buy
Beacon Health System has signed a definitive agreement to acquire Ascension’s health care network in Southwest Michigan, including four hospitals, 35 outpatient clinics and an ambulatory surgery center (ASC). The deal, which is pending approval from attorneys general in both Indiana and Michigan, is expected to close this summer. Financial terms were not disclosed.
“Expanding our reach deeper into Southwest Michigan broadens access to high-quality, affordable care for communities served by Ascension, extends our service area, and provides growth opportunity to further strengthen the health system,” Kreg Gruber, CEO of Beacon Health System, said in a press release.
The move was prompted in part by favorable Medicaid reimbursement rates in Michigan, as well as uncertainty around pending health care legislation in Indiana, Gruber said. Beacon also gains strategic value through Ascension Borgess’ existing joint venture with Western Michigan University’s medical school, which will help support and expand Beacon’s medical residency program.
“This acquisition will create a bright future for these communities by ensuring access to quality health care services for generations,” Gruber said during a virtual press conference.
He added that economies of scale, workforce flexibility and recruitment pipelines all factored into the decision.
Beacon plans to incorporate its name into the new facilities and expects minimal disruption to patient care or services.
“As a regional provider, Beacon Health System is positioned to serve patients through an integrated care delivery system,” Scott Cihak, COO of Ascension Michigan, said in the release. “After an in-depth review, we found that our organizations are well-aligned culturally, which will streamline the integration process.”
US Urology Partners receives growth investment from General Atlantic
U.S. Urology Partners has announced a significant growth investment from General Atlantic, marking a new chapter for the community-based urology platform. The deal, which also includes the exit of previous investor NMS Capital, positions U.S. Urology Partners to deepen its presence across its existing markets and expand into new regions by partnering with independent urology groups nationwide.
Founded in 2018, U.S. Urology Partners supports over 180 providers across Florida, Indiana, Massachusetts, New York and Ohio. The company provides affiliated practices with business operations support, data-driven insights, and technology infrastructure, allowing physicians to focus on delivering high-quality care while alleviating administrative burdens. Its platform also invests in advanced clinical capabilities across genitourinary oncology and non-oncology services.
“As we look to our next phase of growth, we are excited to deepen our presence and capabilities across our five existing markets, while expanding into new geographies,” Corina Tracy, CEO of U.S. Urology Partners, said in a press release. “We are thrilled to enter this next chapter alongside General Atlantic, a partner with an outstanding track record of building and scaling innovative provider organizations across the U.S.”
General Atlantic Managing Director Robbert Vorhoff and Principal Jon Michael Reese will join the U.S. Urology Partners board of directors as part of the transaction.
“We believe the U.S. Urology Partners is well-positioned to support a growing desire by community-based urology practices to remain independent,” Vorhoff said. “We are excited to partner with Corina and the team as they continue to expand access to advanced therapies and procedures.”
Financial terms were not disclosed. Houlihan Lokey and Ernst & Young Capital Advisors served as financial advisors on the transaction, while McDermott Will & Emery provided legal counsel.
Quad-C exits PRISM Vision with sale to McKesson
Quad-C Management has completed the sale of its interest in PRISM Vision Holdings to McKesson Corporation, marking a significant exit for the private equity firm and a strategic entry into ophthalmology services for the health care giant.
PRISM Vision operates a growing platform of general ophthalmology and retina management services, with more than 180 providers across 91 office locations and seven ambulatory surgery centers.
“Our value creation plan focused on driving growth through investment in infrastructure, recruiting and retaining talented doctors, and geographic expansion,” Frank Winslow, senior partner at Quad-C, said in a press release. “We are thrilled to announce the successful exit to McKesson and believe PRISM is well positioned for continued growth.”
Under Quad-C’s ownership, PRISM expanded its footprint and operational platform while maintaining its focus on high-quality patient care.
“Quad-C was instrumental in helping us build a scalable delivery platform,” Dr. Steven Madreperla, CEO of PRISM Vision, said in the release. “We look forward to our next chapter with McKesson as we continue our mission of providing superior eye care.”
Greenhill & Co. acted as financial advisor and McDermott Will & Emery served as legal advisor to Quad-C on the transaction. Financial terms were not disclosed.
BGL sells Eye Consultants of Texas & Lonestar Ambulatory Surgery Center
Brown Gibbons Lang & Company (BGL) announced the successful sale of the Eye Consultants of Texas & Lonestar Ambulatory Surgery Center property in Grapevine, Texas.
The portfolio, totaling approximately 17,724 rentable square feet, was sold to Flagship Healthcare Properties, with BGL’s Healthcare Real Estate team serving as the exclusive advisor to the seller.
The facility offers a comprehensive range of ophthalmic services, including traditional and refractive cataract surgery, LASIK, implantable contact lenses (Visian EVO ICL), glaucoma management and surgery, along with general eye care.
Compass, OINT, Lam Vascular launch multispecialty ASC in Frisco
Compass Surgical Partners has teamed up with the Orthopaedic Institute of North Texas (OINT) and Lam Vascular & Associates to launch a new multispecialty ambulatory surgery center in Frisco, Texas.
The 12,000-square-foot facility, named Frisco Station Surgery Center, is slated to open in late 2026 with four operating rooms and the capacity to expand as patient demand grows.
The ASC will serve one of Texas’ fastest-growing metro areas with a range of specialties including orthopaedics, spine, podiatry, pain management, cardiovascular and endovascular procedures.
“As total joint replacements and spine surgeries move from inpatient settings to join orthopaedic procedures long performed in ASCs, patients will benefit from the minimally invasive techniques, lower costs, and patient-centered approach that ambulatory surgical care offers,” Dr. Justin Kane, foot and ankle specialist and founder of OINT, said in a press release.
Dr. Russell Lam, founder of Lam Vascular & Associates, highlighted the ASC’s role in expanding access to cardiovascular and endovascular services.
“The ASC-focused experience and expertise that the Compass team brings to our partnership will help us make this innovative model of care a reality for Frisco-area physicians and patients,” he said.
The center will be located on the first floor of a newly constructed medical office building with plans to expand to 16,000 square feet and six operating rooms in the future. Partners aim to achieve accreditation from the Accreditation Association for Ambulatory Health Care (AAAHC).
