1. Do you target ASCs for acquisition in markets where you already have a presence?
Yes, not exclusively: 58 percent
Targeting new markets: 26 percent
Yes, exclusively: 16 percent
2. Physicians’ expectations regarding ASC multiples have:
Increased: 13 percent
Decreased: 25 percent
Remained unchanged: 63 percent
3. Which model of ASC operator ownership does your company prefer?
Majority equity ownership: 41 percent
Minority equity ownership: 29 percent
Minority equity ownership with hospital partner: 29 percent
4. How does your company determine offering price when approaching ASC acquisitions?
Discounted cash flow analysis: 26 percent
Standard multiple of EBITDA: 7 percent
Risk adjusted multiple of EBITDA: 41 percent
Third party fair market value opinion: 26 percent
5. Are you considering any ASC mergers to boost efficiency and returns?
Yes: 37 percent
No: 63 percent
6. What impact on ASC value do the following traits or situations have:
High level of ownership by physicians in competing centers
Very low: 0 percent
Low: 0 percent
Medium: 7 percent
High: 33 percent
Very high: 60 percent
Low number of physician investors in the ASC
Very low: 0 percent
Low: 7 percent
Medium: 20 percent
High: 33 percent
Very high: 40 percent
High reliance on out-of-network payors
Very low: 0 percent
Low: 0 percent
Medium: 0 percent
High: 7 percent
Very high: 93 percent
Learn more about VMG Health publications at www.vmghealth.com/publications.
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