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COVER STORY


WHAT’S IN STORE FOR 2020? Opportunities and challenges facing the ASC industry


Industry professionals weigh in on the key trends.


Proliferation of Private Equity


Investment in ASCs Transactions are unlikely to slow down BY MICHAEL F. SCHAFF AND ALYSON M. LEONE


For a number of years, ASCs have been an investment tar- get of private


equity firms (PE) interested in seizing opportunities in a fragmented market. As providers seek to increase profit-


ability, by decreasing expenses while increasing reimbursement, consolida- tion has become the norm. In 2018, PE merger and acquisi- tion transactions in the healthcare space hit record levels at $63.1 bil- lion and 316 deals, according to the Global Healthcare Private Equity and


Corporate M&A Report 2019. The two most significant PE transactions in recent times include KKR & Co.’s acquisition of Envision Healthcare Corp. for $9.9 billion in October 2018 and Athenahealth’s sale to Veritas Capital and Evergreen Coast Capital for $5.7 in February 2019.


PE’s Interest in ASCs ASCs have enjoyed a reputation of providing high-quality care and safe, efficient services to patients. They are generally more convenient than hos- pitals for both patients and surgeons and offer increased scheduling flexi-


The advice and opinions expressed in this column are those of the author and do not represent official Ambulatory Surgery Center Association policy or opinion. 12 ASC FOCUS JANUARY 2020 | ASCFOCUS.ORG


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