Becker's ASC Review

34 TRANSACTIONS What to know about USPI By Patsy Newitt D allas-based United Surgical Partners International, an affiliate of Tenet Healthcare, is the nation's largest ASC chain. As of March 31, the company had an interest in 404 ambulatory surgery centers and 24 surgical hospitals in 34 states. USPI's net operating revenue was a $92 million increase from the first quar- ter of 2021, according to the company's 2022 first quarter earnings report. The chain also brought in $738 million in net operating revenue during the first quarter. It expects to have 12 percent growth this year after acquiring interest in about 160 ASCs in the last year and a half, according to an earnings call in February, as transcribed by Seeking Alpha. USPI now has more than 11,000 physicians, the most of any ASC chain. The company paid $1.1 billion to acquire ASCs from Towson, Md.-based Surg- Center Development November 2021, adding 85 ASCs to its network. It also spent $78 million to acquire eight Compass Surgical Partners ASCs last year The company is headed by Brett Brodnax, president and CEO. Mr. Brodnax joined USPI in 1999 and served as senior vice president, executive vice president, chief development officer and president before becoming CEO in 2018. n What to know about Surgical Care Affiliates By Patsy Newitt D eerfield, Ill.-based Surgical Care Affiliates, one of the largest ASC companies by number of centers, has more than 260 ASCs in its portfolio. e company is owned and operated by healthcare giant Optum, which has made three multimillion-dollar deals in 2022. Since Jan. 1, Optum has acquired 30-loca- tion independent physician organization Atrius Health, home healthcare business LHC Group and Refresh Mental Health. Optum's revenue jumped nearly 19 per- cent in the first quarter to $43.3 billion. Optum Health, which includes more than 53,000 physicians and SCA, said revenue per customer served was up 33 percent year over year in the first quarter as it added more members to its value-based care arrangements. Surgical Care Affiliates employs more than 10,000 people, including 8,500 physi- cians, and serves more than 1 million patients annually. Caitlin Zulla is SCA's CEO. She joined the ASC chain in 2015 and served as chief administrative officer and CFO before becoming CEO in December 2019. Eighty of SCA's facilities were named among the best in America by Newsweek last October. In 2021, SCA collaborated with Minneap- olis-based Allina Health to build a surgery center in Brooklyn Park, Minn. It also opened the first cardiovascular ASC in Colorado as part of a joint venture with Denver-based Vascular Institute of the Rockies, Denver-based Advanced Heart & Vein Center and Denver Interventional and Vascular Labs of the Rockies. n Research park with ASC acquired for $37.5M By Marcus Robertson Boca Raton-based Florida Atlantic University's Research Park was acquired for $37.5 million, The Real Deal reported May 5. A joint venture between real estate firms Pebb Enterprises and Banyan De- velopment purchased the 308,305-square-foot office portfolio, the report said. The park comprises seven buildings that house tenants including Baptist Health Surgery Center. The deal transferred ownership of the buildings, but not the land, the re- port said. n Alaska ASC building sells for $23M By Marcus Robertson The building housing the Surgery Center of Fairbanks was sold for $23.3 mil- lion, according to an email shared with Becker's. The 40,174-square-foot facility is more than 50 percent occupied by the mul- tispecialty ASC, according to Capital Real Estate Group, which advised in the sale. The ASC has four operating rooms and 33 surgeons. The building's other tenants offer services in orthopedics, sports medicine, spine care, physical therapy and imaging. n

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