USPI to Acquire Interests in Nine ASCs from Compass Surgical Partners
United Surgical Partners International (USPI) of Dallas, Texas, a subsidiary of Tenet Healthcare Corporation, has entered into an agreement with Compass Surgical Partners of Raleigh, North Carolina, to purchase its ownership and management interests in nine ASCs, according to a release.
Upon completion of the transaction, USPI will manage and jointly own the centers through partnerships with approximately 125 physicians, as well as with local health systems, where applicable, according to the release. The portfolio includes ASCs in Tampa, Florida; Asheville, Raleigh and Winston-Salem in North Carolina; and Waco, Texas. Roughly 60 percent of the case mix comes from musculoskeletal procedures, with the remainder attributed primarily to ENT and ophthalmology.
Under the terms of the transaction, USPI will acquire Compass’ minority ownership interests, approximately 20 percent ownership interest in the nine centers, and management responsibilities of the centers. Financial terms of the agreement were not disclosed.
The transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions, according to the release.