Dallas-based Tenet Healthcare's ASC chain, United Surgical Partners International, is driving the company's growth with a 22.2 percent revenue increase in the second quarter year over year.
"USPI's future is bright, and our capital deployment into this business will continue to grow and develop this portfolio," CEO Saum Sutaria, MD, said in a July 31 earnings call transcribed by Seeking Alpha
According to the call, Tenet is raising its 2023 earnings outlook by $7.5 million to $385 million, which includes a $45 million raise for USPI. Additionally, USPI has increased its assumptions for same-facility case growth from 5 percent to 6 percent in 2023.
USPI continues to focus on ASC mergers and acquisitions as well. The company added 12 ASCs in the second quarter and has more than 30 centers either in syndication stages or under construction.
Additionally, it saw a 9.8 percent increase in same-facility net operating revenues compared to last year and a 6.9 percent increase in case volumes.
According to Dr. Sutaria, USPI will continue to capitalize on ASC growth, seen with an aging population, patients seeking more convenient care access and a recovering healthcare ecosystem.