Valuation multiples breakdown of ASC chains, parent companies

VMG Health laid out the valuation multiples of the two ASC chains and two parent companies of ASC chains in a January report

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The numbers for Tenet Healthcare include multiples for the entire organization, including 58 acute care and specialty hospitals and 445 surgery centers. Multiples for HCA as well cover the entire 186-hospital, 150-ASC system.

The numbers require a “nuanced approach,” according to the report, because organizations such as HCA and Tenet have diversified operations beyond ASCs. 

Tenet Healthcare

Last 12 months earnings before interest, taxes, depreciation and amortization: 6.2

Next 12 months EBITDA: 7.3

Surgery Partners

Last 12 months EBITDA: 14.3

Next 12 months EBITDA: 18.8

HCA Healthcare

Last 12 months EBITDA: 8.7

Next 12 months EBITDA: 9.1

Medical Facilities Corp.

Last 12 months EBITDA: 3.6

Next 12 months EBITDA: 3.4

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