Six interesting ASC deals:
1. Surgical Care Affiliates acquired Lakewood, Colo.-based Pinnacle III in early 2020, shortly after the COVID-19 pandemic began shutting down surgery centers across the U.S. Pinnacle III was founded in 1999 and has more than 40 surgery centers in its network. Former Pinnacle III CEO Rob Carrera became vice president of operations of Surgical Care Affiliates after the acquisition.
2. Two gastroenterology platforms were created last year. Gastro One in Memphis, Tenn., partnered with private equity firm Webster Equity Partners April 8 to create One GI. In December, Rochester Hills, Mich.-based Center for Digestive Health partnered with H.I.G. Growth Partners to create Pinnacle GI Partners.
3. Surgery Partners, based in Nashville, Tenn., purchased a controlling stake in Bakersfield (Calif.) Heart Hospital from Hospital Management Group. The terms of the agreement were undisclosed.
4. Surgical Care Affiliates also acquired Birmingham, Ala.-based Practice Partners in Healthcare in late 2020. The company partners with ASCs and physicians to provide administrative services and has 21 ASCs in its network. Former CEO of Practice Partners in Healthcare, Larry Taylor, is now vice president of business development for Surgical Care Affiliates.
5. Dallas-based Tenet Healthcare announced Dec. 10 a deal to acquire up to 45 ASCs from Towson, Md.-based SurgCenter Development. Tenet paid $1.1 billion for the ASCs and combined them with its surgical platform, United Surgical Partners International.
6. GI Alliance, backed by private equity firm Waud Capital, has partnered with nine practices in the last year, including three in January. The physician-led company now operates more than 150 centers in six states.
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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.