Texas was among the states that experienced the most ASC growth in 2019. Here, representatives of the Texas Ambulatory Surgery Center Society explored what makes the state great for ASCs and offered insights into the future of the market.
ASC Transactions & Valuation Issues
Covenant Surgical Partners pivots to physician services organization, rebrands after new partnership
Nashville, Tenn.-based Covenant Surgical Partners announced on Jan. 21 that it is shifting its strategy from an ASC-focused company to a physician services company, and it has a new partnership to underscore the change.
A number of New York hospitals are betting on surgery center projects and physician group integrations to maximize their profits and income in 2020, Buffalo Business First reports.
Last year, Optum revenues jumped 11.5 percent, reaching $113 billion. OptumHealth revenues were up 26 percent to $30.3 billion, led by OptumCare, which includes Surgical Care Affiliates.
Leawood, Kan.-based NueHealth acquired minority ownership in Paoli (Pa.) Surgery Center and assumed the facility's day-to-day management in late 2019, according to a press release.
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Healthcare and life sciences deal activity was up 40 percent year over year in November 2019, according to the 2020 KPMG Healthcare and Life Sciences Investment Outlook survey.
Here are three joint-venture ASCs opened or announced in December:
United Surgical Partners International has been an area of strong performance and growth for Tenet over the years, and in 2020 the company aims to continue building on its reputation to add more centers to its platform.
Optum reported double-digit annual revenue growth in 2019 and was a driving factor in the success of UnitedHealthcare last year.
A medical office building in Allen, Texas, housing Spine Team Texas and an ASC was sold to an institutional buyer for an undisclosed price.