ASC Transactions & Valuation Issues

Chicago-based Pinnacle Dermatology acquired physician-owned Dermatology Associates and Skin Surgery Center, the company said Aug. 17. 

Southern California private equity firm IRA Capital acquired Wauwatosa Surgery Center near Milwaukee, the firm said in a statement Aug. 16. The 11,200-square-foot facility provides outpatient services including anesthesiology, general surgery and orthopedic surgery.

The Wake Forest Baptist Health Surgery Center in Winston-Salem, N.C., sold for $9.6 million, according to Fairfield Advisors, a real estate firm who facilitated the sale. 

Blue Cross Blue Shield of Michigan added a physician management services business to its portfolio in early August, following a trend of insurance companies seeking to partner with or employ physician groups to keep them independent of hospitals.

The ongoing pandemic and newer COVID-19 surges nationwide have shifted longterm growth plans for many ASCs.

Ten July ASC acquisitions to know:

The physician-owned, Amherst-based Ambulatory Surgery Center of Western New York sold a majority stake to Catholic Health, Buffalo Business First reported Aug. 5. 

Brentwood, Tenn.-based Surgery Partners reported strong revenue growth during the second quarter and continued to strengthen its pipeline of new acquisitions, some set to close in the second half of the year.

Real estate firm Sanders Capital Partners acquired an ASC in Duluth, Ga., for $2.3 million, Birmingham Business Journal reported Aug. 3. 

A Marion, Ill.-based multispecialty ASC is testing President Joe Biden's executive order to scrutinize and halt acquisitions that would limit competition and increase healthcare prices.