Here's the growth moves of three of the largest ASC chains in 2024:
United Surgical Partners International (Dallas)
With 7.1% of the ASC market share, USPI is the largest ASC chain by number of physicians and centers, and has seen massive growth in the last few years.
USPI's parent company Tenet Healthcare sold its 70% ownership stake in five Alabama hospitals on Oct. 1 in a deal valued at approximately $910 million in cash, with after-tax proceeds of approximately $790 million. The transaction covers Birmingham-based Brookwood Baptist Medical Center and Princeton Baptist Medical Center, Citizens Baptist Medical Center in Talladega, Shelby Baptist Medical Center in Alabaster and Walker Baptist Medical Center in Jasper.
Earlier this year, the health system also sold nine hospitals in California and South Carolina for a total of $3.9 billion.
USPI, however, keeps growing. USPI acquired 45 new ASCs and quietly purchased ASC chain Covenant Physician Partners in the first quarter. USPI also inked a partnership with the Tampa-based Florida Orthopedic Institute in the second quarter.
AmSurg (Nashville, Tenn.)
AmSurg was owned by Envision Health until 2023 when the parent company filed for bankruptcy.
Since then, the 256-ASC chain has made several moves in 2024 to bolster its role in the industry. In August, AmSurg partnered with Owings Mills, Md.-based LifeBridge Health and Pikesville, Md.-based Woodholme Group to open a gastroenterology ASC in Westminster, Md.
In June, AmSurg inked a joint venture with Escondido. Calif.-based Palomar Health and the system's Poway (Calif.) Surgery Center. AmSurg also acquired ownership interest in Salem, Ore.-based River Road Surgery Center, which specializes in ENT procedures, in July.
Earlier this month, AmSurg announced a partnership with healthcare communication company Dialog Health to enhance patient communication.
Surgery Partners (Brentwood, Tenn.)
Surgery Partners is the third-largest ASC operator in the U.S., with more than 160 centers and 4,600 affiliated physicians. After going public in 2015, it merged with National Surgical Healthcare in 2017, and Bain acquired HIG Capital’s stake in Surgery Partners.
In February, Surgery Partners teamed up with Fort Wayne, Ind.-based Parkview Health to develop ASC joint ventures across the state. In May, it formed a partnership with New York City-based Gramercy Park Digestive Disease Center.
There has been rumored interest from UnitedHealth Group, parent company of Optum, and private equity firm TPG to acquire Surgery Partners, raising concerns about increased consolidation in the industry.