While there were no notable mega-mergers in the ASC industry in 2023, there was transaction activity by multi-site operators and health systems, according to VMG Health's 2024 Healthcare M&A Report published May 7.
Here are the seven ASC deals to know in 2023, according to the report.
1. In February 2023, United Musculoskeletal Partners partnered with two Texas orthopedic practices, All-Star Orthopaedics, with four clinic locations, OrthoTexas Physicians and Surgeons,with five clinics and an ASC.
2. In May 2023, Hartford (Conn.) Healthcare acquired two ASCs, Surgery Center of Trumbull, Conn.-based Fairfield County, a subsidiary of HCA Health, and Torrington, Conn.-based Litchfield Hills Surgery Center.
3. In June 2023, Covenant Physician Partners expanded its ASC portfolio with the merger of its St. Vincent Eye Surgery Center and Wilshire Center for Ambulatory Surgery, both in Los Angeles.
4. In September, ophthalmology network Unifeye Vision Partners acquired Insight Vision Group, a California eyecare platform of 10 clinics and two ASCs.
5. Also in September, Surgery Partners acquired NorCal Orthopedic Surgery Center in San Ramon, Calif., comprising nine operating entities, one ASC and 25 physician partners.
6. In October, TriasMD, the parent company of DISC Surgery Centers, acquired Walnut Creek, Calif.-based Pinnacle Surgery Center.
7. In November, Regent Surgical Health acquired majority ownership in Beaverton-based Oregon Surgical Institute.