The future looks promising for ambulatory surgery centers (ASCs) as the health care industry’s focus on cost efficiencies shifts toward where surgical procedures are performed. Surgeries with increasing complexity, once limited to hospitals, are now shifting to ASCs, indicating continued growth for the foreseeable future. A recent Jefferies equity research report highlighted the structural tailwinds driving this transformation and projected 6% to 8% growth for the ASC sector through … [Read more...]
HCA’s Surgery Ventures Names Shaun Cartwright Chief Operating Officer
Surgery Ventures has named Shaun Cartwright chief operating officer, according to a post from the ambulatory surgery center (ASC) business on LinkedIn. Cartwright has been with the organization since 2006 and most recently served as senior vice president of operations. He has overseen the creation of new leadership roles within the company, including the first assistant vice president of operations position. Specifically, Cartwright was responsible for Surgery Ventures’ Western Region, … [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...]
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...]
Surgery Partners Buoyed by Specialty Case Growth, Physician Recruitment and ASC Additions
Gastrointestinal case growth led the way for Surgery Partners (Nasdaq: SGRY) in the first quarter of 2025, contributing to strong surgical volumes and a solid start to the year. While a heavier GI mix placed modest pressure on average reimbursement rates, overall case growth remained strong, with orthopedic procedures and de novo expansion also fueling momentum across the platform, Surgery Partners CEO Eric Evans said during a May 12 earnings call. “GI case volumes are exceeding our … [Read more...]
Hospitals vs. ASCs: How Site Neutrality Could Reshape Outpatient Care
The site-neutrality movement has rapidly become one of the most talked-about issues in health care. But what does it mean for ambulatory surgery center operators? At its core, site neutrality is about leveling the playing field between different outpatient settings by eliminating the extra facility fees that hospital outpatient departments (HOPDs) often receive, Rachel Carey, counsel at Whiteford, Taylor & Preston LLP, told Ambulatory Surgery Center News. “It's a movement to … [Read more...]
When It Comes to Site-Neutral Payments, ASCs Could Become Important ‘Solution to the Problem’
For years, ambulatory surgery centers (ASCs) have operated at a reimbursement disadvantage compared to hospital outpatient departments (HOPDs) and other – often costlier – health care settings. Yet a growing push for site-neutral payments could soon level the playing field, potentially reshaping the financial landscape for ASCs, hospitals and payers alike. And Brentwood, Tennessee-based Surgery Partners (Nasdaq: SGRY) is embracing the movement wholeheartedly, according to CEO Eric … [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...]
Bain Capital’s Go-Private Surgery Partners Bid Seen as ‘Low,’ Not Reflective of ASC Market’s Upside
Surgery Partners has confirmed it received a non-binding acquisition proposal from Bain Capital Private Equity. The proposal was delivered to ambulatory surgery center (ASC) giant Surgery Partners on Jan. 27. In it, Bain Capital proposed to buy all of the outstanding shares of Surgery Partners it doesn’t already own for a cash consideration of $25.75 per share. Bain Capital and its affiliates own about 39% of Surgery Partners’ common stock. Moving forward, a special committee of … [Read more...]
Bain Capital Private Equity Looking to Buy Out Surgery Partners
Surgery Partners (Nasdaq: SGRY) has been exploring a possible sale since at least July, according to multiple news reports. Now, the surgical services giant appears to have a proposal on the table. On Monday evening, Bain Capital Private Equity reached out to the Surgery Partners board with a non-binding proposal to acquire all of the company’s stock it does not already own for $25.75 per share. The proposal was documented via public financial filings with the U.S. Securities and Exchange … [Read more...]