Currently, Tenet’s subsidiary, United Surgical Partners International, owns or operates approximately 535 ASCs in the U.S., according to a Dec. 17 report from Seeking Alpha.
Tenet is a significant player in the ASC space, with major rivals, like HCA Healthcare, operating only 148 facilities.
Over the last few years, the company has publicly pivoted its focus away from more traditional hospital growth to outpatient care. In a first-quarter earnings call this year, Tenet said it is investing $450 million into its ambulatory business in 2024.
For the nine months ending Sept. 30, 2024, Tenet saw revenue grow to $3.275 billion, up from $2.788 billion in 2023, from its ambulatory care services. It also used surplus cash flow from the period to continue investing in ambulatory services.
During the same period, USPI saw $439 million in adjusted EBITDA, which represents 19% growth over third-quarter 2023. Same-facility revenue grew 8.7% and adjusted EBITDA margins remained robust, according to the report.
“We will continue to deploy capital to enhance growth in our industry-leading ambulatory surgical business through M&A and de novo development,” Saum Sutaria, CEO of Tenet, told Seeking Alpha.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.