1. General orthopedics is the most desirable specialty in an ASC, with 94 percent of respondents finding it desirable. The next four most desirable specialties are orthopedic spine (88 percent), ophthalmology (82 percent), and ENT and pain management (both 76 percent).
2. Plastic surgery is the least desirable specialty, with 82 percent of respondents saying it was undesirable and no respondents describing it as desirable. GYN has 12 percent of respondents describing it as undesirable and 59 percent saying they have no preference with it. Just 29 percent of respondents find it desirable. Urology is undesirable to 18 percent of respondents, with less than half of respondents (47 percent) finding it a desirable specialty.
3. For a single-specialty ASC, 72 percent of respondents prefer 6-10 physician owners. Just six percent of respondents prefer more than 20 physician owners, and 11 percent prefer less than six physician owners.
4. For a multi-specialty ASC, 11-15 physician owners is most desirable, with 52 percent of respondents preferring this range. Thirty-six percent of respondents prefer more than 15, and 12 percent prefer 6-10 physician owners. No respondents prefer a multi-specialty ASC with 1-5 physician owners.
5. When valuing a potential acquisition, respondents say the primary earnings measure they rely on is EBITDA (69 percent of respondents). Twenty-five percent of respondents look primarily at cash flow to shareholders. No respondents rely primarily on net income.
To receive a copy of the 12-page Healthcare Transactions 2010 ASC Valuation Survey, please contact HAI at info@hcfmv.com or (561) 330-3488 or download a PDF version at www.healthcareappraisers.com.
Learn more about ASCs from HealthCare Appraisers’ surveys:
– 3 Things to Know About the De Novo ASC Market
– 3 Statistics on On-Call Coverage for Gastroenterologists
– Methodology for Determining Purchase Prices for New Physician Investors
