Optim Orthopedics and Southern Orthopaedics & Sports Medicine (SOSM) have announced a strategic merger. Moving forward, the deal will unite their operations under the Optim Orthopedics name. SOSM is a Brunswick-based orthopedic surgery office that specializes in treatments for a range of musculoskeletal conditions. This merger reflects the ongoing trend of consolidation in the surgery world, including in the ambulatory surgery center (ASC) industry, particularly in specialty fields … [Read more...]
UnitedHealth Group Teases Growth Priorities, Mum on ASC Plans
In July, reports surfaced that one of the country’s largest ambulatory surgery center (ASC) chains – Surgery Partners (Nasdaq: SGRY) – was exploring strategic alternatives, including a possible sale. Health care behemoth UnitedHealth Group (NYSE: UNH) was identified as one potential buyer. UnitedHealth Group, the parent of Optum, is a major player in the ASC space, having acquired SCA Health in 2017. Strategically, adding to its ASC footprint makes sense for UnitedHeath Group, with company … [Read more...]
DermCare Management Partners with Contour Dermatology & Cosmetic Surgery Center
DermCare Management has partnered with Contour Dermatology & Cosmetic Surgery Center, adding the group to its already large footprint. Bringing Contour Dermatology & Cosmetic Surgery Center into its network gives DermCare Management four additional locations within the Southern California market. Overall, DermCare Management has a presence across Florida, Texas and Virginia, in addition to California, with 81 locations in total. Dr. Timothy Jochen and a team of 18 providers from … [Read more...]
ASC Ownership Showdown: Physician, Corporate or Joint Venture
The ambulatory surgery center (ASC) landscape in the United States is made up of several thousand facilities, which can be broadly categorized as physician-owned, corporate-owned, and joint ventures between physicians, health systems and operating partners. Each category carries distinct advantages and disadvantages, making it essential for ASC stakeholders to understand the nuances of each model thoroughly, industry leaders told ASC News. “There are many new and different ASC ownership … [Read more...]
Essentia Health Partners with Brightside Surgical to Expand Surgical Services in North Dakota
Essentia Health has joined forces with Brightside Surgical, an ambulatory surgery center (ASC) in Bismarck, North Dakota, to co-own the facility. Brightside offers a variety of specialties, from obstetrics to podiatry to general surgery. The partnership aims to enhance access to outpatient surgical care for patients in the Bismarck-Mandan area, Dr. Stefanie Gefroh, interim president of Essentia Health’s West Market, told ASC News in an email. “This joint venture solidifies existing … [Read more...]
Mount Sinai Health System Boosts Surgical Care Capabilities, Opens New ASC
One of the more innovative health systems in the U.S. is expanding its ambulatory surgery center (ASC) network. Mount Sinai Health System announced on Sept. 30 that it officially opened its Peakpoint Midtown West Surgery Center. The 25,106-square-foot ASC is a joint venture between Mount Sinai, area surgeons and Merritt Healthcare. “Peakpoint Midtown West underscores our commitment to expanding access to the latest surgical treatments and world-leading medical care for all patients,” Brent … [Read more...]
California Gov. Gavin Newsom Vetoes Legislation Targeting Private Equity in Health Care: What ASCs Should Know
A California law requiring private equity firms and hedge funds to get approval from the attorney general's office when buying health care assets appears to be dead in the water. The legislation is Assembly Bill 3129, sponsored by California Representative Jim Wood. Up until now, the bill has had plenty of momentum, making it out of the California State Assembly and succeeding in two committee votes in the California Senate. If finalized, AB 3129 would have forced PE-type buyers to disclose … [Read more...]
How the Fed’s Interest Rate Cut Could Impact ASC Operators, Health Care M&A
The Federal Reserve’s recent decision to cut interest rates by half a percentage point marks a shift in monetary policy, signaling that inflation is cooling and that the central bank may now be focused on keeping the labor market stable. In turn, that could mean there’s more ambulatory surgery center (ASC) transaction activity on the horizon. “We’re trying to achieve a situation where we restore price stability without the kind of painful increase in unemployment that has come sometimes … [Read more...]
Study: Private Equity Practices Cut Medicare Costs, Boost ASC Potential
In 2022, Medicare spending for beneficiaries treated in private physician practices backed by private equity was, on average, 9.8% lower compared to those treated in hospital-affiliated practices. That’s according to a recent study conducted by Avalere, commissioned by the American Independent Medical Practice Association (AIMPA). The study revealed significant cost savings and reduced health care utilization among Medicare beneficiaries treated by private equity-affiliated physician … [Read more...]
Collins Vision Expands with Acquisition of Eye Care and Surgery Center
Ophthalmology practice Collins Vision has expanded its footprint in Southwest Florida by acquiring the Eye Care and Surgery Center of Southwest Florida in Punta Gorda. This move allows the practice to broaden its reach into Charlotte County, enhancing access to personalized eye care for the growing community, executives said in a press release. The acquisition, spearheaded by Collins Vision founder and Medical Director Dr. Michael J. Collins, marks a strategic expansion into a region … [Read more...]