What would it take to sell your ASC? Owners weigh in

Independent, physician-owned ASCs seem to get bought out more and more often by private equity, health systems and big ASC chains.

Becker's ASC Review spoke with four ASC owners about what it would take to convince them to sell.

Note: Responses were lightly edited for clarity and brevity.

Ali Sadrieh, DPM. Founder and owner of Evo Advanced Foot Surgery (Los Angeles).

I would never sell, because nobody gets it. And I think there's a moral obligation for every doctor not to sell. I don't care what the brand is, none of these companies get it. At the end of the day, they're driven by spreadsheets. Why is it okay to treat patients with spreadsheets? This isn't a retail operation. No practice should be.

Private equity doesn't understand excellence in quality. That's why private equity is broken.

I'll sell my equipment to companies, but I'm not going to sell [my practice] to an institution or a brand.

Eugene Cherny, MD. Owner of Heartland Plastic Surgery (Des Moines, Iowa).

My ASC was gained at great time and cost because this is a wretched certificate of need state. I would certainly sell to the highest bidder. At the moment, we are keeping it in my practice because the ASC gives incredible added value to the practice. This is a time when venture capital is getting interested in aesthetic practices as well. We foresee only future growth in value of an ASC, especially in CON states.

Dave Demangone, MD. Owner of Willoughby (Ohio) Surgery Center.

I built and own my building, so the price would be the value of my professional practice, the ASC business, and the real estate value of the building. I'd ask the same amount no matter the buyer, although the price may fluctuate pending on whatever else the buyer offered as part of the deal.

Avi Bhandary, MD. Founder and Owner of Mana Spine (Orlando, Fla.).

Private equity would be my preference. A sale would be largely contingent on the iterative process of the parent company, operational acumen, and taking on a role that leans toward value creation rather than that of captured value.

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