Becker's Healthcare December 15, 2025
Patsy Newitt

Private equity-backed ASC operators are increasingly scaling without buying surgery centers outright, a shift that relies on joint ventures, management contracts and exclusivity agreements, according to an October report from the Private Equity Stakeholder Project.

The report describes a new strategy in the ASC industry in which private equity-backed companies gain traction without actual ownership stakes.

One example of this trend is Regent Surgical Health, which partners with health systems and physician groups to develop, own and manage 26 ASCs across more than 13 states. The company received a strategic investment from TowerBrook Capital Partners in 2021 and has a co-investment and strategic alignment with Ascension Capital.

Regent is the exclusive national ASC partner to St. Louis-based Ascension...

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Topics: ASC, Investments, Mergers & Acquisitions / JV, Provider, Trends
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