BUYER POOL ANALYSIS
Selling a Ambulatory Surgery Center to Strategic / Industry buyers
Industry operators, larger competitors, and corporate buyers acquiring for synergies, geographic expansion, or capability fill. Typically pays a premium for clear strategic fit but discounts for integration cost and overlap.
Quick answers
- What multiple does this buyer pool pay?
- Median EV/EBITDA 9.2x across 33 disclosed deals (P25: 7.35x, P75: 12.21x). Median EV/Revenue 2.05x across 48 deals. Median deal value: $17.45M.
- How many disclosed transactions?
- 50 deals total (50 from 2018+), filtered to Strategic / Industry acquirers of ambulatory surgery center businesses.
- Most active buyers
- Hartford HealthCare (3) · Surgical Care Affiliates (2) · Tenet Healthcare Corporation (2) · Surgicore 5th Avenue (2) · The Hospital of Central Connecticut (2) · EMU Health (1)
Recent disclosed deals
Strategic / Industry acquisitions of ambulatory surgery center businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2025 | Advanced Surgery Center | EMU Health | $3.1M | — | 3.70x |
| 2025 | AmSurg | Ascension Health | $3900.0M | 14.2x | 3.30x |
| 2025 | Five ASC Transactions | Surgery Partners, Inc. | $11.0M | 8.0x | — |
| 2024 | Effingham Ambulatory Surgery Center | Sarah Bush Lincoln Health Center | $38.8M | — | 2.70x |
| 2024 | Endoscopy Center of Connecticut | Hartford HealthCare | $18.7M | 11.4x | 2.20x |
| 2024 | Ireland Grove Center for Surgery | OSF Healthcare System | $19.5M | — | 1.00x |
What this buyer pool prices for
Strategic buyers — operators in adjacent geographies, larger competitors, or corporate consolidators — price for synergies and capability fill. They tend to discount integration cost and overlap risk but pay above market when there's clear strategic fit (key customer relationship, license, geography, technician/professional team). Multiples are competitive with PE for fee-viable deals; below PE for sub-scale acquisitions.
Methodology note
Multiples shown are computed from disclosed M&A transactions in the ExitValue.ai database, filtered to ambulatory surgery center businesses acquired by strategic / industry buyers. EV/EBITDA outliers outside the [0.5x, 60x] band and EV/Revenue outliers outside [0.05x, 25x] are excluded from medians. Where available, post-2018 transactions are weighted; otherwise the all-time sample is used. Deal counts shown reflect deals with disclosed financials only — total transaction count for this buyer pool is typically 2-3x larger. Full methodology
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