Ascension – one of the largest nonprofit health systems in the U.S. – is buying AMSURG. News of the St. Louis-based health system’s interest in AMSURG surfaced earlier this month, when Bloomberg reported Ascension was in “advanced talks” to acquire the ambulatory surgery center (ASC) giant in a $3.9 billion deal. Ascension announced it had an acquisition agreement in place on June 17, though its announcement did not provide financial terms for the deal. Ascension described the move as a … [Read more...]
Surgery Partners Passes on Bain’s Buyout Pitch
Surgery Partners Inc. (Nasdaq: SGRY) will remain an independent company – for now. On June 17, the Brentwood, Tennessee-based Surgery Partners announced that the special committee of independent directors that its board tasked with reviewing a go-private takeover bid from Bain Capital Private Equity has officially passed on the proposal. As a result, Surgery Partners has “concluded discussions related to Bain Capital’s non-binding proposal to acquire all the outstanding shares of Surgery … [Read more...]
WCAS Makes Another Big Bet on ASCs with Constitution Surgery Alliance Investment
The ambulatory surgery center (ASC) space continues to receive ample interest from deep-pocketed investors. On June 16, Constitution Surgery Alliance (CSA) announced it received a strategic investment from Welsh, Carson, Anderson & Stowe (WCAS), one of the most seasoned and active private equity firms in health care. "We are excited to welcome WCAS as a partner," Kris Mineau, CEO and Co-Founder of CSA, said in a statement. "Their experience in scaling health care organizations aligns … [Read more...]
Surgery Partners Acquires San Jose-Based Surgery Centers
Surgery Partners (Nasdaq: SGRY) has expanded its California footprint with the acquisition of multiple San Jose-based ambulatory surgery centers (ASCs) – two of the largest in the region. Financial terms of the deal – announced by Brentwood, Tennessee-based M&A advisory firm Bailey & Company on May 29 – were not disclosed. The transaction underscores Surgery Partners’ ongoing efforts to scale its national platform through targeted acquisitions, specialty growth and physician alignment. … [Read more...]
Beyond the Brick and Mortar: Operators and Architects Rethink ASC Design to Meet Demand, Retain Staff
A growing number of ambulatory surgery centers (ASCs) are being built to meet demand for efficiency, patient convenience and higher-acuity capabilities, but designing them requires more than adding ORs and new technology. In a recent ASC News webinar, three leaders from across the industry shared what they are seeing in the field and how forward-looking operators can avoid design and development missteps. The panel featured Michael McClain, managing partner at LeftCoast Healthcare Advisors; … [Read more...]
‘The Whole Goal Is for Everybody to Win’: ASC Teams Up with Commercial Payer to Simplify Knee Replacement Costs
Powder River Surgery Center in Gillette and Blue Cross Blue Shield of Wyoming have begun offering a single‑price option for unilateral total knee replacement – Wyoming’s first commercial bundled payment for an ambulatory surgery center (ASC). The program, which went live on May 1, was designed to simplify billing while keeping surgical volume and revenue inside the state. Wyoming’s rural nature and sparse population have long complicated reimbursement for outpatient surgery, Linda Bedwell, … [Read more...]
ASC Dealbook: ChristianaCare Acquires Crozer Health Facilities; Eye Health America Adds Schneider Eye & Wellness CenterChristianaCare to expand outpatient footprint
ChristianaCare Takes Over Operations at Five Crozer Health Outpatient Centers ChristianaCare will take over operations at five Crozer Health outpatient centers in Delaware County, Pennsylvania, following a successful $50.3 million bid to acquire the locations out of Crozer’s ongoing bankruptcy process. The facilities – located in Glen Mills, Havertown, Broomall and Media – will bolster ChristianaCare’s growing outpatient and neighborhood hospital network in southeastern Pennsylvania, … [Read more...]
Covenant Surgical Partners Reports Data Breach Affecting More Than 88,000 People
Covenant Surgical Partners, a Nashville, Tennessee-based operator of single and limited-specialty ambulatory surgery centers (ASCs), has reported a data breach impacting 88,609 individuals, according to a filing with the U.S. Department of Health and Human Services’ Office for Civil Rights. The breach involved the potential exposure of protected health information (PHI) and other sensitive personal data. While full details have not been released, information that may have been compromised … [Read more...]
ASC Pipeline: New GI Alliance Facility Expands Access to Outpatient Gastroenterology Care; Amavita Heart and Vascular Health Opens Cardiovascular Center
GI Alliance launches ASC with MedCore Partners GI Alliance has opened a new ambulatory surgery center (ASC) and managed clinic in Bentonville, Arkansas. Developed in partnership with MedCore Partners, the facility brings together surgical and clinical services under one roof, offering a streamlined experience for gastroenterology patients from consultation through post-operative recovery, executives said in a press release. The center includes multiple operating rooms, pre-op and recovery … [Read more...]
Mount Sinai, Merritt Healthcare Fast‑Track Joint Venture Surgery Center Strategy via Peak Point Partners
Mount Sinai Health System is fast‑tracking the construction of several joint venture ambulatory surgery centers (ASCs) through Peak Point Partners, the holding company it co‑owns with Merritt Healthcare. The goal: to move routine procedures into lower-cost settings, and stay competitive with self‑insured employers and commercial payers. The New York-based health system shifted from small, passive stakes in ASCs to a dedicated, system‑wide build‑out over the past five years, Brent Stackhouse, … [Read more...]