Private equity firm TPG is one of the groups vying against UnitedHealth Group, parent company of Optum, to purchase Brentwood, Tenn.-based ASC operator Surgery Partners, Bloomberg reported Aug. 23.
The deal is in its early stages and is not confirmed, according to the report
Here are five things to know about TPG Capital:
1. In January, TPG made a strategic investment in Raleigh, N.C.-based ASC chain Compass Surgical Partners, which has 19 ASCs in its portfolio.
2. The investment is funded by TPG Growth, the firm's middle market and growth equity platform, along with Compass' existing investor Health Velocity Capital.
3. TPG will bring "valuable expertise" to Compass Surgical Partners, according to a release, "accelerating growth and scaling capacity in response to increased demand in ASC joint ventures from health system partners."
4. TPG Health invested in Houston-based Kelsey-Seybold, one of the largest physician groups in the country, in 2020. In 2022, Optum acquired Kelsey-Seybold for around $2 billion.
5. Other healthcare investments include Blue Cloud, largest operator of pediatric dental ASCs in the country, value-based care company Evolent Health and urgent care provider Go Health.