Jon Vick, president and founder of ASCs Inc., reported a record year for Physician's ASCs Inc., in 2012. The company advised ambulatory surgery center and GI endoscopy center physician owners on more than $65 million in merger and acquisition transactions. The company reported 50 percent more transactions in 2012 than in any previous year, which Mr. Vick attributes to the increase in ASC owners selling minority or majority interests in their centers, according to the news release.
Owners selling last year wanted to obtain the highest possible value prior to year-end 2012 to take advantage of the lower capital gains taxes. Sales were divided between multispecialty ASCs, single specialty ASCs and GI endoscopy centers almost evenly and Mr. Vick reported growth in all types of centers as hospitals compete with ASC management companies for good acquisitions.
"The competition between the ASC management companies and hospitals to acquire centers has resulted in an excellent environment for sellers with higher multiples being offered," according to the news release. "Due to these factors, [Mr.] Vick expects 2013 will be another record year for ASC acquisitions and that prices will remain high due to the competitive environment to acquire centers."
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