Here are five major transactions in the third quarter significantly reshaping the ASC industry, reflecting broader trends in consolidation and strategic partnerships.
Tenet completes sale of 5 hospitals in Alabama
Dallas-based Tenet Healthcare, parent company of ASC giant United Surgical Partners International, completed the sale of its majority interest in Birmingham, Ala.-based Brookwood Baptist Health to Orlando (Fla.) Health.
This comes after a wave of hospital sales by the healthcare giant earlier this year. Tenet sold off nine hospitals in California and South Carolina for a total of $3.9 billion and has been redirecting focus towards USPI.
Optum eyes Surgery Partners acquisition
UnitedHealth Group, parent company of Optum, is one of the potential buyers of Brentwood, Tenn.-based ASC operator Surgery Partners. Sources told Bloomberg in August that private equity firm TPG is also an interested buyer, among other PE firms and strategic bidders.The deal is in its early stages and is not confirmed.
Ascension sells ASCs & other facilities
Midland-based MyMichigan Health finalized the acquisition of several Michigan-based Ascension facilities, including a Saginaw-based ASC and a Tawas-based surgery center. In October 2023, Ascension struck a deal with Detroit-based Henry Ford Health in which Ascension agreed to hand over eight Michigan and Genesys hospitals to Henry Ford. The deal has taken longer to finalize than initially expected and is on track to close sometime in the fall.
SurgNet Health Partners acquires an endoscopy center
Nashville, Tenn.-based ASC management company SurgNet Health Partners acquired Tuscaloosa (Ala.) Endoscopy Center. The center has provided gastrointestinal diagnostic and therapeutic endoscopic procedures in the area for more than 40 years. Since SurgNet's launch in 2022, it has continued to grow, with practices in Michigan, Ohio and now, Alabama.
AmSurg acquires stake in Oregon ASC
ASC management services provider AmSurg acquired ownership interest in Salem, Ore.-based River Road Surgery Center. River Road Surgery Center, which specializes in ear, nose and throat procedures, is a freestanding outpatient facility accredited by The Joint Commission.