Ascension Health in 'advanced talks' to buy Amsurg from private equity for $3.9B

Nonprofit Catholic Ascension Health is set to buy Amsurg, an ambulatory surgery company, from its private equity owners, sources told Bloomberg. The deal, which could be finalized in a matter of weeks, is reportedly valued at $3.9 billion.

Citing “people with knowledge of the matter” who asked not to be identified, the acquisition is described as in “advanced talks;” however, terms have not been finalized as all parties iron out sticking points.

Sources warned that, despite the late and promising negotiations, it is still possible the talks could stall or fail outright.

Amsurg, which operates 250 outpatient surgery centers across the U.S., has multiple owners at the negotiation table, including Pacific Investment Management, King Street Capital Management and Partners Group—three private equity investment firms.

It’s unclear what percentage stake each owns. Amsurg used to be part of Envision Healthcare, a large national medical group, but was separated when Envision exited bankruptcy in 2023. Amsurg was then sold to various investors.

Ascension is one of the largest nonprofit health systems in the U.S., operating some approximately 142,000 employees, 142 hospitals and 40 senior living facilities in over a dozen states. The acquisition of Amsurg would allow the Catholic-based health system to add more outpatient surgery options to its expanding network.

Bloomberg said that it approached Amsurg and Ascension for comment but did not receive a reply. The three private equity firms also did not respond to requests for more details.

The full story from Bloomberg is available at the link below.