Tenet Healthcare bolstering ASC footprint in 2024

Dallas-based Tenet Healthcare, parent company of ASC giant United Surgical Partners International, is investing $450 million into growing its ambulatory business in 2024, according to its April 30 first-quarter earnings call. 

In the first quarter of the year, Tenet closed on selling nine hospitals for proceeds of $4 billion to invest in the ambulatory space. Additionally, Tenet acquired 45 ASCs across the nation in the first quarter that focus on several specialties, including orthopedics, ophthalmology and GI. 

The company is assuming "about EBITDA growth of about 4%" in the ambulatory business, according to the call.

As of 2024, USPI now has 512 ASCs and 25 surgical hospitals spanning 38 states in its portfolio, making it the largest ASC chain in the U.S. USPI aims to have 575 to 600 facilities by the end of 2025. 

"We have had an outstanding start to the year highlighted by strong growth in revenues, admissions and profitability," CEO Saum Sutaria, MD, said. "Our operational excellence and focus on continuous improvement helped enable our momentum as we transform our company through strategic portfolio decisions, disciplined capital allocation and debt reduction."

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