24
JOINT
VENTURES
5 ASC Powerhouses: 35 Things to Know on the Largest
Surgery Center Chains
By Mary Rechtoris
T
he following five major companies have
made a name for themselves in the
ASC business, providing management
expertise to centers spanning the nation.
Here are 35 things to know about the five larg-
est ASC chains:
Tenet Healthcare/United Surgi-
cal Partners
International (Dallas)
1. In 2015, Tenet Healthcare penned a deal with
Welsh, Carson, Anderson & Stowe to purchase
50.1 percent of United Surgical Partners Inter-
national with the intent of eventually acquiring
the entire company. e combined company
jointly owns ASCs as well as imaging centers.
2. Tenet/USPI has 470 surgery centers span-
ning the United States. e company also
owns and operates 79 hospitals, 20 short-stay
surgical hospitals and employs nearly 130,000
individuals.
3. Trevor Fetter became Tenet's president in
November 2002 and CEO in September 2003.
He was appointed the company's chairman in
May 2015. Mr. Fetter earned a master of busi-
ness administration from Boston-based Har-
vard Business School.
4. Since 2004, William Wilcox has served at
USPI's helm as CEO. He serves on the compa-
ny's board and is a board member of European
Surgical Partners, which owns and operates
Aspen Healthcare in the United Kingdom. Mr.
Wilcox holds a master's degree in health sys-
tems management from Tulane University in
New Orleans. Brett Brodnax is the president
and chief development officer of USPI.
5. During the third quarter of fiscal year 2016,
Tenet had:
• Adjusted EBITDA hitting $570 million
• Ambulatory care adjusted EBITDA totaling
$157 million
• Cash flow hitting $237 million in the first
nine months of FY 2016
6. In October 2016, Tenet agreed to pay the
federal government, Georgia and South
Carolina $514 million to settle kickback
allegations, which claimed Tenet hospitals
paid kickbacks for obstetric referrals in
Georgia and South Carolina.
7. In 2015, Tenet looked at eight quality
measures on their Balance Scorecard and
improved upon seven of those measures.
Compared to 2014, Tenet's readmission rate
dropped 13.6 percent.
AmSurg (Nashville, Tenn.)
1. AmSurg and Colorado-based Envision
Healthcare Holdings signed a definitive merg-
er agreement in June 2016, with the combined
company having a pro forma market cap of
nearly $10 billion. Per the merger agreement,
Envision shareholders will hold a nearly 53
percent stake in the company, with AmSurg
shareholders having a 47 percent stake.
AmSurg completed the acquisition of Envision
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