Private equity is a force to be reckoned with in the healthcare industry — and ASCs are catching their eye.
Private equity firms spent $206 billion on healthcare ventures in 2022, according to a report by AMN Healthcare. That amount of cash flow has the potential to influence the ASC industry in a major way.
Here are five private equity companies to keep tabs on, in alphabetical order:
Bain Capital Private Equity
Bain Capital Private Equity backs Brentwood, Tenn.-based ASC chain Surgery Partners. In November, Surgery Partners secured an $800 million equity offering, and Bain contributed $225 million of that total.
Bryant Park Capital
Bryant Park Capital backs ValueHealth, a fast-growing ASC chain focused on value-based surgical care. The private equity firm guided ValueHealth in its partnership with Surgery Partners.
KKR
Private equity firm KKR backs ASC chain Covenant Physician Partners. The company formerly was a backer of ASC chain AmSurg but lost ownership when Envision restructured after filing for Chapter 11 bankruptcy in May. KKR acquired Covenant in 2017.
Shore Capital Partners
This private equity firm, with offices in Chicago and Nashville, Tenn., works exclusively with small and midsize businesses. It has a network of more than 40 companies and has participated in 27 healthcare sector private equity deals since 2020, making it the most active firm in healthcare in that period, according to a report published Nov. 7 by market research firm PitchBook.
Webster Equity Partners
Webster Equity Partners is a healthcare-focused firm with offices in Waltham, Mass., and West Palm Beach, Fla. It was founded in 2003 and has made more than 225 investments since then. Webster participated in 16 healthcare sector private equity deals since 2020, making it the second-most active firm in healthcare in that period, according to PitchBook's report.