Last year was a pivotal year for the ambulatory surgery center (ASC) industry, marked by transformative trends, groundbreaking innovations and high-stakes decisions that reshaped the landscape. It was also an exciting year for us at Ambulatory Surgery Center News, as we launched in the summer of 2024 with a mission to deliver in-depth reporting and actionable insights tailored to ASC operators, investors, payers, clinicians and other stakeholders. Since our debut, we've brought you stories … [Read more...]
PE-Backed Orthopedic Care Partners Names New CEO, Announces $185M Strategic Investment and $358M Senior Debt Refinancing
Orthopedic Care Partners (OCP) has a new top executive – and some added financial firepower for him to work with. The Gainesville, Florida-based orthopedic practice management platform announced Thursday that Dr. Tim Corvino is taking the helm as CEO. Corvino is the former CEO of Spire Orthopedic Partners. The same day, OCP announced a growth recapitalization transaction, inclusive of a $185 million hybrid capital raise provided by Brookfield Asset Management through its Brookfield Special … [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...]
Exploring PE Dealmaking Trends in ASCs, Health Care Services
Private equity dealmaking in health care services has been in a bit of a slump, at least compared to the record-breaking transaction activity that took place in 2021 and 2022. But there are signs that PE-led health care M&A may be turning around, with the potential for increased interest in the ambulatory surgery center (ASC) space as well. “There have been deal processes starting for a while, but we're just starting to see some deals actually close,” Rebecca Springer, lead health care … [Read more...]