Private equity boom: 5 moves for ASC leaders to know

Here are five private equity moves to know since Sept. 2:

1. Southlake, Texas-based GI Alliance received a $785 million investment from private equity firm Apollo Global Management. Apollo agreed to take a stake in GI Alliance as part of a physician-led buyout valuing the company at $2.2 billion.

2. A four-building medical office portfolio in northern Kentucky and southern Indiana was acquired by Montecito Medical. The properties are fully leased to Kentucky/Indiana Foot and Ankle Specialists, a private-equity backed podiatry practice with 16 physicians across seven locations. 

3. Medical and life sciences manufacturer Olympus is selling Evident, its lab instrument subsidiary, to private equity firm Bain Capital for $3.08 billion.

4. Private equity firms that acquire physician-owned practices may be upcoding or up-charging insurance, according to new research from Portland-based Oregon Health and Science University. 

5. Pure Health, an integrated healthcare platform based in the United Arab Emirates, signed an agreement to acquire a minority equity investment in a 30-hospital health system based in Nashville, Tenn. Pure Health is purchasing the minority interest in Ardent from private equity firm Equity Group Investments and will receive board observer rights with Ardent but will not have a spot on the board of directors.

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