Following a slower-than-expected onboarding process, Saum Sutaria, MD, CEO of Dallas-based Tenet Healthcare, parent of ASC chain United Surgical Partners International, said that the company "feels good" about the acquisition progress and doesn't think of the ASCs as a separate entity than USPI.
"It's within our markets," Dr. Sutaria said in a July 24 second- quarter earnings call transcribed by Seeking Alpha. "The assets have been distributed into our geographic management model fully with our field operators, so it's not like there's a separate segment or a separate management team or a separate recruiting pipeline or anything like that."
The company has done more buyouts with the deal, he added, but has stopped reporting them because of the seamless integration.
In November 2021, Tenet initially acquires SurgCenter Development and its more than 90 ASCs for approximately $1.2 billion. The acquisition includes ownership interest in 92 ASCs and the formation of a five-year development agreement to provide continuity for SurgCenter Development's facilities and physician partners.
USPI revealed progress on the acquisition had slowed during a February 2023 earnings call. The transaction included many ASCs that were in early development and some planned buyouts and center openings did not meet deadlines. In July 2023, Dr. Sutaria announced progress was back on track.