United Surgical Partners International expects to have 12 percent growth this year after acquiring interest in about 160 ASCs in the last 18 months.
"We've deployed over $2.5 billion in capital investment at USPI since December of 2020, scaling USPI to be the leading ambulatory surgery platform," said Saum Sutaria, MD, CEO of USPI's parent company Tenet, during an earnings call in February, as transcribed by Seeking Alpha. "We also welcomed over 3,400 physicians to USPI's medical staff and started approximately 90 new high acuity service lines. We anticipate strong returns from the high-caliber investments we made."
The added surgery centers include the acquisition of eight Compass Surgical Partners ASCs and SurgCenter Development, an orthopedics and spine-focused ASC chain. USPI expects the 135 SurgCenter Development surgery centers to have about $540 million in EBITDA.
USPI had an established orthopedics platform before acquiring SurgCenter Development, which solidified USPI's leading spot in the market with an eye on high acuity cases.
"We think this aspiration that we had of being the unquestionable leader in outpatient orthopedic surgery, including innovating and adding new procedures in the USPI environment, has been very important strategically to where USPI is headed," said Dr. Sutaria.
USPI grew its total joint surgeries 130 percent in 2021 and will keep growing this year.
"SurgCenter Development has historically done a great job in expanding their total joint footprint," said Brett Brodnax, president and CEO of USPI. "Of course we're going to continue to learn from them and vice versa, in terms of how we expand not only in total joints, but also expand across a wide variety of higher acuity specialties, including spine and cardiac. We'll continue to learn from one another as we integrate their business into ours."