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.
ASC Transactions & Valuation Issues
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.
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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.
Cleveland Clinic purchased a two-medical building project featuring a surgery center in Port St. Lucie, Fla., for $52.5 million, Business Observer reported July 30.
Monfort Heights Healthcare Investors has purchased Cincinnati-based Good Samaritan Surgery Center West for $8 million, the Cincinnati Business Courier reported July 29.
Healthcare real estate firm Cornerstone Companies has acquired 12 properties comprising medical office buildings, ASCs and clinics for $48.7 million.