Issue link: https://beckershealthcare.uberflip.com/i/1541321
28 TRANSACTIONS 10 ASC M&A trends to know in 2025 By Sophie Eydis M ergers and acquisitions remain a driving force in the ASC industry, as national operators, health systems and private equity firms seek scale, specialty depth and stronger physician alignment. Here are 10 trends shaping ASC dealmaking in 2025: 1. Valuations are stabilizing: ASC deal multiples are holding around eight times the operating income, signaling a maturing and more competitive M&A environment. 2. Platform vs. turnaround plays: Buyers are split between acquiring thriving platforms to scale quickly and targeting underperforming centers for turnaround opportunities. 3. Physician alignment drives deals: Equity-sharing models and surgeon leadership buy-in are now central to structuring ASC partnerships. 4. Private equity is retooling: Firms are integrating ASCs with physician practice management groups and outpatient networks to capture more of the care continuum. 5. Payer pressure accelerates consolidation: Commercial and government payers are steering more procedures into outpatient settings, creating stronger incentives for hospitals and physicians to partner with ASC chains. 6. Independence may see a rebound: Some leaders predict hybrid models will grow, allowing physicians to retain ownership while accessing capital and support from strategic partners. 7. Mega-deals reshape the field: Ascension's agreement to acquire AmSurg will expand its ASC footprint from 58 to more than 300 centers. 8. High-acuity specialties attract buyers: Orthopedics, spine and GI continue to lead as the most sought-aer ASC service lines. 9. Smaller ASCs still find success: Leaders say niche-focused centers with efficient operations can thrive outside large-scale rollups, indicating the centers may be better positioned to adapt to market demand. 10. Regulatory shis shape deals: State certificate-of-need law changes and evolving federal payment policies continue to influence where and how ASC development and acquisitions occur. n Cleveland Clinic sells outpatient property for $8M By Sophie Eydis Cleveland Clinic sold its outpatient facility in Mansfield, Ohio, to FG MC II Mansfield for $8.1 million. e transaction is part of the health system's strategy to transition outpatient sites from ownership to long-term leasing, aimed at reducing expenses and generating capital for facility updates and other projects, according to an Oct. 1 Richland Source report. e sale will not affect operations or staffing. Cleveland Clinic maintains 315 locations across Ohio. n PE firm acquires physician-owned Florida practice By Patsy Newitt P rivate equity firm Revelstoke Capital Partners has acquired Griffin Concierge Medical, a physician- owned, membership-based practice in Tampa, Fla., according to a Sept. 30 news release from TM Capital, the investment bank that advised on the deal. Founded in 2008, Griffin Concierge Medical is a multisite provider offering preventive screenings, advanced diagnostics, urgent care, hormone optimization, weight management, nutritional counseling, travel medicine and hospital coordination services. Since its inception in 2013, Revelstoke has completed 201 acquisitions, including 31 platform companies and 170 add-on transactions. "Griffin Concierge's partnership with Revelstoke advances the practice's mission to provide its unique relationship- based approach to healthcare and high-quality care to a broader market," Josh Mastracci, managing director of healthcare at TM Capital, said in the release. "We were privileged to support the Griffins and their exceptional leadership team throughout this process and are confident this partnership will enhance their ability to meet growing demand for more personalized healthcare." n