Issue link: https://beckershealthcare.uberflip.com/i/1412867
18 ASC MANAGEMENT 10 major closures and sales in 2021 By Patsy Newitt A 23-clinic pain management practice shut its doors, and Tenet unloaded its Florida hospitals. Here are 10 closures and sales announced in 2021: 1. Dallas-based Tenet Healthcare sold five of its hospitals in Florida but kept its ASCs — run by United Surgical Part- ners International, according to a June 16 news release. 2. TLC Laser Eye Center in West Fargo, N.D., temporarily closed after several employees quit in late May. The center postponed care for 30 days to hire and train more staff. 3. Gastro Health sold to private equity company Omers, according to a May 19 news release. Miami-based Gastro Health previously was owned by Audax Private Equity, which acquired the company in 2016. 4. Lags Medical Centers, a 23-clinic pain management chain in California, shut its doors May 14 without explana- tion. 5. West Reading, Pa.-based Tower Health revealed May 10 that some of its physicians will leave when it restructures its medical group. The changes will affect 95 of its 876 physicians and advanced practice providers as well as 100 support staff members. 6. Santa Rosa-based Northern California Medical Associ- ates closed May 1 and laid off 26 physicians and 151 employees. The group cited natural disasters and financial decline over the last three years as reasons for the closure. 7. Miami-based Gastro Health acquired Digestive Disease Associates, growing its platform to a sixth state, it an- nounced March 1. 8. Gilford, N.H.-based Advanced Orthopaedic Specialists closed at the end of March after its service agreement with Laconia, N.H.-based Lakes Regional General Hospital ended and wasn't renewed. 9. In February, four solo primary care physician practices in Shelburne, Vt., reported plans to close their practices. Two of the physicians are retiring, and two are joining larger organizations. 10. Advanced Pain Management, a Wisconsin-based chain of pain management practices and surgery centers, shut down several locations in 2020, announced in January 2021. The company closed six locations in March and four more from Sept. 22 to Oct. 31.n How the net worth of ASC specialists changed in the past year By Patsy Newitt T he percentage of ASC specialists that saw a net worth above $5 million and under $500,000 declined in the past year, according to Medcape's Physician Wealth & Debt Reports from 2021 and 2020. Here are five ASC specialties and how their net worth has changed in the past year: Orthopedics: Orthopedic physicians with a net worth above $5 million: 2020: 19 percent 2021: 7 percent Orthopedic physicians with a net worth under $500,000: 2020: 24 percent 2021: 2 percent Cardiology: Cardiologists with a net worth above $5 million: 2020: 15 percent 2021: 7 percent Cardiologists with a net worth under $500,000: 2020: 23 percent 2021: 2 percent Anesthesiology: Anesthesiologists with a net worth above $5 million: 2020: 12 percent 2021: 6 percent Anesthesiologists with a net worth under $500,000: 2020: 24 percent 2021: 3 percent Gastroenterology: Gastroenterologists with a net worth above $5 million: 2020: 16 percent 2021: 4 percent Gastroenterologists with a net worth under $500,000: 2020: 18 percent 2021: 1 percent Ophthalmology: Ophthalmologists with a net worth above $5 million: 2020: 13 percent 2021: 3 percent Ophthalmologists with a net worth under $500,000: 2020: 29 percent 2021: 2 percent n