St. Louis-based Ascension chose Regent Surgical Health as its national ASC development partner.
"This partnership with Regent will allow us to expand our ambulatory surgery center footprint and create even greater access to quality care in the markets we're privileged to serve," said Craig Cordola, executive vice president and COO of Ascension.
Ascension Capital, the investment affiliate of Ascension, and TowerBrook Capital Partners, an international investment firm, invested in Regent to provide capital for further growth. Regent is a Chicago and Nashville, Tenn.-based ASC chain with 21 surgery centers in its network.
"This is a great outcome for our partners, great for our team, and great for the surgery center industry. Consolidation in our market has resulted in fewer choices for health systems and physicians looking to realize their outpatient surgical vision," Chris Bishop, CEO of Regent, told Becker's. "With this investment, Regent now has the ability to bring substantially increased resources to partners of any size, and because we remain independent, we can still differentiate on what we've always been known for: offering the highest quality solution at the greatest value."
Regent and Ascension plan to develop, acquire and operate ASCs in communities Ascension serves. Ascension has 2,600 sites of care in 19 states primarily in the Midwest and Southeastern regions.
"We see enormous opportunities in the ASC market for Ascension as well as so many other health systems, and are thrilled to invest in and partner with an organization that shares Ascension's values and commitment to excellence," said Tony Speranzo, president and CEO of Ascension Capital.
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