Real estate investors Cypress West and TPG Angelo Gordon, who entered into a joint venture in April, have closed on a portfolio of six outpatient facilities on the West Coast.
ASC Transactions & Valuation Issues
The ASC industry is historically fragmented, but one company seeing skyrocketing growth in the last five years through consolidation.
Two medical office buildings in Paducah, Ky., have been acquired by Montecito Medical Real Estate for $15 million, according to an Aug. 7 report from REBusiness Online.
Brentwood, Tenn.-based Surgery Partners' revenues jumped 14.2% to $762.1 million for the second quarter of 2024, according to the company's financial report released Aug. 6.
Optum Services of Minnesota, an affiliate of United Health, has purchased a medical office building in Marysville, Wash., for $20.3 million according to an Aug. 6 report from the Seattle Daily Journal of Commerce.
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Here are 10 ASC companies to know:
Operational costs are soaring for ASCs while reimbursements continue to decline. Some physicians point to a lack of communication from payers regarding ASC's true costs for creating this financial tension.
Dallas-based Tenet Healthcare, parent company of ASC giant United Surgical Partners International, has agreed to sell its majority interest in Birmingham, Ala.-based Brookwood Baptist Health to Orlando (Fla.) Health.
Midland-based MyMichigan Health has finalized the acquisition of several Michigan-based Ascension facilities, including a Saginaw-based ASC and a Tawas-based surgery center, according to an Aug. 1 report from the Detroit Free Press.
Following a slower-than-expected onboarding process, Saum Sutaria, MD, CEO of Dallas-based Tenet Healthcare, parent of ASC chain United Surgical Partners International, said that the company "feels good" about the acquisition progress and doesn't think of the ASCs as a separate…