Here are five transactions, legislative updates and other private equity updates in the ASC space from third quarter of 2024, as reported by Becker's:
1. California Gov. Gavin Newsom vetoed a bill that would increase scrutiny over private equity firms and hedge funds acquiring physician practices. The bill would have given California's attorney general power to set conditions on the acquisition of physician groups and healthcare entities in cases where authorities believed a PE firm or hedge fund investment would have "anticompetitive effects or negatively impact the access or availability of healthcare services to the community," according to the report.
2. Sources told Bloomberg in early August that private equity firm TPG is an interested buyer of Brentwood, Tenn.-based ASC operator Surgery Partners, along with UnitedHealth Group's Optum and several other PE groups.
3. Nashville, Tenn-based ASC management company SurgNet Health Partners, backed by private equity, acquired Tuscaloosa (Ala.) Endoscopy Center, adding to their growing profile.
4. ASC management services provider AmSurg acquired ownership interest in Salem, Ore.-based River Road Surgery Center. River Road Surgery Center, which specializes in ear, nose and throat procedures, is a freestanding outpatient facility accredited by The Joint Commission.
5. Sens. Elizabeth Warren and Ed Markey of Massachusetts introduced a bill that would increase scrutiny of "corporate greed and private equity abuse" in the healthcare industry. The bill included more penalties, stricter reporting requirements and additional payment regulations.