Regent Surgical Health (Regent), a developer, owner and manager of ambulatory surgery centers (ASCs), announced today the completion of a strategic investment from TowerBrook Capital Partners L.P. (TowerBrook), an international investment management firm, and Ascension Capital, an investment affiliate of Ascension, providing additional capital for future growth.
In conjunction with the transaction, Ascension, the nation’s largest non-profit and Catholic health system, has selected Regent as its exclusive national partner for ambulatory surgery center development. Through this partnership, Regent and Ascension will develop or acquire and operate ambulatory surgery centers across the communities Ascension serves, providing patients with convenient access to high-quality outpatient surgical services.
“This partnership with Regent will allow us to expand our ambulatory surgery center footprint and create even greater access to quality care in the markets we’re privileged to serve,” said Craig Cordola, Executive Vice President and Chief Operating Officer for Ascension. “We believe the convenience and exceptional patient and physician experience will make a difference in our communities.”
Regent, headquartered in Chicago and Nashville, Tennessee, has developed, owned and managed ASC facilities in partnership with hospitals and physicians since 2001, and has grown to become the nation’s largest independent health system joint venture-focused ASC operator. Regent currently owns or operates ASCs across the United States and has successfully pursued a strategy focused on the development of several multisite health system partnerships.
Regent will use the capital investment from TowerBrook and Ascension Capital to further grow its management team as well as enhance its operational and technology capabilities to support both existing and new health system and physician partners. In addition, TowerBrook and Ascension Capital have committed significant incremental growth capital to support Regent’s role in assisting its health system partners in modernizing their surgical systems through both ASC acquisition and new developments.
“We are incredibly excited to partner with TowerBrook and Ascension, who collectively bring a depth of investment expertise, system relationships and clinical excellence, to build on our existing capabilities and to launch our next phase of growth,” said Chris Bishop, Chief Executive Officer of Regent Surgical Health. “As technology-driven innovations have facilitated a migration of many routine surgical procedures into outpatient and ambulatory settings, our vision is to become the ASC management partner of choice to the nation’s leading health systems, enabling them to provide seamless and superior care to the patients they serve.”
“We look forward to partnering with the Regent management team to continue to invest in its platform capabilities and accelerate the company’s growth as well as pursue transformative acquisitions in an attractive, growing and critically important segment of the healthcare market,” said Evan Goldman, Managing Director at TowerBrook.
“We see enormous opportunities in the ASC market for Ascension as well as so many other health systems, and are thrilled to invest in and partner with an organization that shares Ascension’s values and commitment to excellence,” said Tony Speranzo, President and CEO of Ascension Capital. “We have a longstanding relationship with Ascension,” added Ian Sacks, Managing Director at TowerBrook, “and we are eager to once again work together to continue to build the best-in-class, independent ASC partner for health systems and physicians across the country.”