ASC Transactions & Valuation Issues

Ten physician practices or clinics filed for bankruptcy in 2024 — a six-year high — according to a report on Chapter 11 bankruptcy filings from healthcare restructuring advisory firm Gibbins Advisors. 

Advocate Health Care will permanently shutter its 55 in-store clinics located within Walgreens pharmacies in Illinois and Wisconsin, effective Feb. 6.

Physician practice bankruptcy filings hit a six-year high in 2024, according to a report on Chapter 11 bankruptcy filings from healthcare restructuring advisory firm Gibbins Advisors. 

Choice Care Surgery Center, a physician-owned ASC in Midland, Texas, has joined United Surgical Partners International, according to a Jan. 29 news release from Physician Transaction Advisors, which advised the ASC on the transaction.

Nashville, Tenn.-based HCA Healthcare faces challenges expanding its ASC network in states with certificate-of-need laws, CFO Mike Marks said during the health system's Jan. 24 earnings call.

After several years of "lackluster" deal activity, bankers and private equity advisors recently told The Wall Street Journal that physician practice deals are showing more promise, possibly making space for more PE firms to exit their holdings. 

Nashville, Tenn.-based Surgery Partners received a proposal from Bain Capital Private Equity to acquire all of Surgery Partners' outstanding shares, according to a Jan. 28 news release from the healthcare services company. 

Nashville, Tenn.-based HCA Healthcare's CEO Sam Hazen said the company is unconcerned about the potential effects of site-neutral payment policies on its ASC development strategy.

The ambulatory surgery center (ASC) industry experienced another transformative year in 2024, marked by accelerated growth, evolving case complexity, and continued regulatory shifts. Strategic consolidation remained a key theme, with established ASC platforms and new private equity–backed entrants expanding their…

Walgreens Boots Alliance's prospective sale to a private equity firm is "mostly dead," sources told CNBC's David Faber, according to a Jan. 27 report from The Wall Street Journal.