Dallas-based United Surgical Partners International, the ASC arm of Tenet, has cemented itself as one of the largest ASC operators in the U.S.
At the end of 2025, the organization has more than 500 facilities in its network, the most of any ASC company.
Here are 10 notes about its financial performance and where it has focused its growth over the past three years.
2025
- USPI is positioning itself for a new growth runway as Medicare begins phasing out its inpatient-only list in 2026, a policy shift the company said will gradually expand the number of higher-acuity procedures moving into lower-cost sites of care.
- The company had an “active year” in 2025, investing nearly $350 million and adding 35 facilities to its ambulatory portfolio, according to its CEO Saum Sutaria, MD.
- In 2025, USPI reported $5.2 billion in net operating revenues, a 14.1% increase from 2024.
- The company sharpened its strategic focus on orthopedic-focused centers.
2024
- United Surgical Partners International reported $4.5 billion in net operating revenues for 2024, a 15.4% increase from 2023.
- USPI emphasized high-acuity procedures to fuel its expansion, with a 7.6% increase in net revenue per case, driven by high-acuity procedures and a favorable payer mix during the third quarter of 2024.
- In 2024, the company acquired 45 new centers in the first quarter and eight in the second quarter.
2023
- In 2023, USPI had a strong year across service lines, citing growth in gastroenterology, urology, ENT, orthopedics and ophthalmology.
- The company’s total net operating revenues for 2023 came to nearly $3.9 billion compared to more than $3.2 billion in 2022.
- USPI acquired 31 ASCs for $149M in 2023.
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.