St. Louis-based Ascension, one of the nation’s largest nonprofit health systems, has sold or consolidated about 35 hospitals across the country in the last 16 months.
Here are five mergers and acquisitions that ASCs need to know:
1. Ascension is reportedly in advanced talks to acquire Nashville-based ASC chain AmSurg in a deal valued at approximately $3.9 billion. AmSurg, which operates more than 250 ASCs across 34 states with more than 2,000 physicians, emerged as a standalone entity after separating from Envision Healthcare during its 2023 bankruptcy restructuring. The company is now backed by investors including Pacific Investment Management Co., King Street Capital Management and Partners Group.
2. Ontario, Calif.-based Prime Healthcare completed its acquisition of eight Illinois hospitals from Ascension on March 1. A ninth hospital, Chicago-based Ascension St. Elizabeth was included in the deal, but the facility closed in mid-February. Prime plans to work with the city of Chicago and the community to determine the best plan moving forward for the hospital. The purchase also included four post-acute and senior living facilities, and two ASCs.
3. Ascension plans to acquire full ownership of Cedar Park (Texas) Medical Center, a 126-bed facility, for $460 million in cash. Franklin, Tenn.-based Community Health Systems has signed a definitive agreement to sell its 80% ownership stake in Cedar Park Regional to Ascension, which currently has a 20% ownership interest in the hospital.
4. Ascension’s recent sale of four hospitals in southwest Michigan to South Bend, Ind.-based Beacon Health System represents a complete exit from the state. The sale also includes 35 outpatient clinics and an ASC from Ascension Michigan, a division of Ascension Health. Beacon will gain more than 2,700 associates from the acquisition, including 261 providers.
5. The University of Alabama System on Nov. 1 acquired Birmingham-based Ascension St. Vincent’s Health System for about $450 million. Under the deal, UAB Health System assumed ownership of all Ascension St. Vincent’s care sites, including the hospitals at Birmingham, Blount, Chilton, East and St. Clair, as well as the Trussville Freestanding Emergency Department, imaging centers and other clinics that were part of Ascension Medical Group.
The post Ascension’s M&A strategy: 5 recent moves for ASCs to know appeared first on Becker’s ASC.
