The $6B ASC Buying Spree: 2026’s Five Largest Surgery Center Deals

Bypaulgruensfelder October 15, 2026

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Becker’s ASC ReviewSeptember 22, 2026

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AI-Generated Summary

2026 is the largest ASC deal year on record, driven by strategic buyers rather than only private equity. Becker’s ASC ranks the five biggest deals: Ascension’s $3.9B AmSurg acquisition (closed Sept. 17 after the FTC required seven ASC divestitures, taking Ascension from 58 to 312+ ASCs); Surgery Partners’ $1.15B sale of Idaho hospitals to Intermountain; Cencora’s Retina Consultants of America buying EyeSouth’s retina business for $1.1B; Tenet/USPI’s $125M of Q1 acquisitions; and SSM Health’s $46M Oklahoma Spine Hospital deal. Regulators are scrutinizing local market concentration, and physician-inclusive ownership is becoming the standard template.

Why It Matters

ASC operators and sponsors can use these deals to benchmark buyer appetite, regulatory risk and ownership structures. FTC divestiture conditions and physician-partner equity are now practical planning inputs for any ASC exit or platform build.

ASC M&Asurgery center dealshealth system acquisitionsFTC divestiturephysician ownershipUSPIplatform strategy

While we aim to share useful and relevant resources, we do not guarantee the accuracy of content on this site or any external links. Views and opinions expressed in referenced content do not necessarily reflect those of Healthcare Growth Strategies.

Frequently asked questions

What were the largest ASC deals of 2026?

Ascension’s $3.9B AmSurg acquisition, Surgery Partners’ $1.15B Idaho hospital sale to Intermountain, Cencora’s $1.1B EyeSouth retina purchase, Tenet/USPI’s $125M of Q1 acquisitions, and SSM Health’s $46M Oklahoma Spine Hospital takeover.

Did the FTC affect the Ascension–AmSurg deal?

Yes. The deal closed Sept. 17 only after the FTC required Ascension to divest seven ASCs, reflecting regulators’ focus on local market concentration.

How are ASC deals being structured to keep surgeons invested?

Physician-inclusive ownership is becoming a common template; for example, SSM Health took 55.5% of Oklahoma Spine Hospital while physician partners took 8.45%.

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