Summit Spine & Joint Centers has completed a recapitalization with Wellspring Capital Management. The news marks the third private equity recapitalization for the Georgia-based minimally invasive spinal services platform in seven years. Summit officials said in a press release that the funding is expected to provide additional capital to bolster Summit’s expansion in the Southeast and adjoining markets. “Our mission is to empower physicians, because when physicians are empowered … [Read more...]
ASC Pipeline: TriasMD to Open Advanced DISC Surgery Center; Kootenai Health and MultiCare to Build New Medical Campus
TriasMD expands ASC footprint TriasMD, the parent company of the DISC Surgery Centers, is expanding its presence in California with the opening of a new state-of-the-art facility in San Diego’s North County. Located in the Tri-City Medical Center Health & Wellness Complex in Carlsbad, the 12,000-square-foot DISC Surgery Center is now complete and in the final stages of equipment installation and staffing ahead of opening. The center will feature three advanced operating suites … [Read more...]
ASC Strategic Partnerships: Why Health Systems and Independent Surgery Centers Are Joining Forces
With shrinking margins, staffing shortages and shifting physician demographics, independent ambulatory surgery center (ASC) operators are increasingly considering whether they should continue going it alone – or turn to a strategic partner for backup. Strategic partnerships can help mitigate common industry challenges by potentially securing better reimbursement rates, leveraging group purchasing agreements and bringing in additional patient volume, William Teague of VMG Health, a health … [Read more...]
Ardent Highlights Blueprint for ASC Growth Through Urgent Care Acquisition Strategy
Urgent care capabilities can act as a “front door” to higher-acuity services. That, in turn, can be a boon to ambulatory surgery center (ASC) expansion. This was Ardent Health Partners Inc. (NYSE: ARDT) CEO Marty Bonick’s sentiment on the outpatient market during the company’s investor presentation on March 10. “There’s about 5.6 million people that live in our markets,” Bonick said. “We saw over 1.2 million unique patients last year. … As we can get more people into our system, they’re … [Read more...]
Study: Physician Turnover Surges After Private Equity Exits
Physician turnover rises significantly after the sale of private equity-owned physician practices. What’s more, those departing are significantly more likely to join larger groups. That’s according to a recent study published in JAMA Health Forum that examined 1,215 physicians, comparing those whose practices were sold by PE owners with similar physicians in practices that did not undergo a sale. Two years after the sale, physicians in PE-exiting practices were 16.5 percentage points … [Read more...]
Ambulatory Surgery Centers Remain Key to HCA’s Market Strategy, CEO Says
Ambulatory surgery centers (ASCs) remain central to HCA Healthcare’s (NYSE: HCA) long-term outpatient expansion strategy, despite the company’s heavier focus on urgent care, physician clinics and freestanding emergency departments in recent years. “We think about ambulatory surgery centers as just part of our approach to the marketplace,” CEO Sam Hazen said during a March 4 investor call. “Unlike some other companies, we don’t typically own surgery centers or other outpatient facilities … [Read more...]
Surgery Partners Cashing In on Orthopedics Boom, Ramping Up De Novo Development
Following a go-private proposal from Bain Capital Private Equity and other sales-process rumors that began last year, ambulatory surgery center (ASC) industry insiders have been following Surgery Partners Inc. (Nasdaq: SGRY) very closely. Amid the noise, the Surgery Partners leadership team is sticking to its playbook: organic growth, margin improvement and strategic M&A. It’s a strategy that drove the Brentwood, Tennessee-based company to cross $3 billion in revenue for the first time in … [Read more...]
ASC Dealbook: Eye Health America Expands into Central Georgia; Community Health Systems Completes Florida Divestiture
Eye Health America buys Eye Center of Central Georgia Eye Health America (EHA) has partnered with Eye Center of Central Georgia (ECCG), bringing the eye care provider’s total number of partnerships to 30 and ambulatory surgery centers (ASCs) to 14. This move extends EHA’s presence in Georgia, where it already operates two centers. The ECCG team expects to benefit from EHA’s additional resources and support, allowing for enhanced services and expanded reach to patients in central Georgia. … [Read more...]
‘There Are Opportunities to Expand Both in the Hospital and Beyond’: Ardent Health Doubles Down on Ambulatory Growth Strategy
One of the newer publicly traded health care companies on the market – Ardent Health Partners Inc. (NYSE: ARDT) – has been very clear about its ambulatory care ambitions. Executives at the Brentwood, Tennessee-based Ardent Health doubled down on those ambitions Thursday, emphasizing that outpatient expansion is central to the company’s vision for the future as more patients look for convenient sites of care outside of the hospital. “During 2024, we advanced our ambulatory growth strategy, … [Read more...]
Mass General Brigham Taps Regent Surgical to Boost Ambulatory Surgery Access
Mass General Brigham has announced a new collaboration with Regent Surgical. The collaboration – unveiled Tuesday – is aimed at expanding ambulatory surgery center (ASC) capabilities across New England. The joint effort seeks to reduce wait times, enhance patient access and lower costs by moving more procedures into high-quality, lower-cost outpatient settings, executives from both organizations said in a press release. Massachusetts has the fewest ASCs per capita … [Read more...]