ASC chain that developed 250+ centers gets private equity investment

Raleigh, N.C.-based Compass Surgical Partners has secured a minority investment by Health Velocity Capital, a private equity firm that focuses on healthcare services and software businesses.

The partnership aims to drive Compass' growth into new markets and benefit its joint-venture ASCs as the healthcare industry continues its shift away from hospitals toward the outpatient setting, the company said in a March 11 news release.

"Given the tailwinds in the market, we saw a window to further catalyze opportunities to develop high-quality ambulatory surgery centers with trusted partners," said DJ Hill, CEO of Compass. "Our team has developed and managed more than 250 ambulatory surgery centers over the course of our careers, and we have high conviction that the outpatient migration is accelerating and that providers deserve dedicated, independent partners to deliver superior clinical and financial results."

Compass will use the funding to invest in data and analytics, physician practice support services, hospital partnerships, value-based care, new service delivery models and technologies supporting the adoption of spine surgery and joint replacement programs.

"Compass is disrupting a distinct and rapidly growing healthcare vertical," said Marty Felsenthal, a partner at Health Velocity Capital who joined Compass' board of directors. "We are excited to play a strategic, supporting role in helping to fuel Compass' next phase of growth as it enters new markets and collaborates with other providers to drive value while continuing to redefine the care experience for its patients and providers."

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