Becker's Healthcare October 6, 2025
ASC financing is quietly shifting from all-or-nothing equity models to more nuanced ownership structures. Physician groups are increasingly exploring hybrid models, partial equity sales and governance arrangements that preserve both capital access and clinical control.
Here are five emerging trends driving this shift:
1. Consolidation continues to press physician groups: Corporate and chain acquisition activity in the ASC space shows no sign of slowing.
As large platforms expand, physician-led centers face intensifying pressure to adapt or partner. Corporate ownership is steadily rising in the ASC sector, even while physicians still retain majority stakes in many centers.
2. Hybrid ownership earns favor over total sell-outs: Fully physician-owned ASC models are increasingly being replaced by shared equity structures and joint ventures...
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