TPG invests in ASC growth companion Compass Surgical
Compass Surgical Companions, a growth and administration companion for ambulatory surgical procedure facilities (ASC), has secured strategic investments from US different asset supervisor TPG.
Monetary particulars concerning the transaction weren’t shared, apart from the truth that the funding dimension was “vital.”
TGP is financing this funding by its mid-market and development fairness platform TPG Progress, along with present investor Well being Velocity Capital.
TPG's involvement is anticipated to carry experience to Compass Surgical Companions and its management crew, additional enhancing its means to scale and meet the rising demand for ASC joint ventures from healthcare system companions.
TPG has appointed Latham & Watkins as authorized counsel and Crowe to supply accounting, tax and IT recommendation.
Compass Surgical Companions was suggested by McDermott Will & Emery on authorized issues.
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Based on TGP, the most recent transfer comes as well being care programs throughout the nation are shifting sure surgical procedures from hospital outpatient clinics to ASC amenities, with physicians favoring ASCs for his or her custom-made working rooms.
This transition is primarily pushed by the potential for substantial value financial savings and improved affected person experiences, the corporate stated.
Recognized for its nationwide portfolio of healthcare and doctor joint ventures, Compass Surgical Companions has a observe document of creating greater than 250 ASCs.
TPG Companion Zach Ferguson stated: “Compass offers deep strategic and operational experience to information its vendor companions by the complexities of ASC growth and administration.
“This funding continues our long-standing funding thesis round partnering with nice operators to construct main ambulatory care networks by joint ventures with healthcare programs and doctor teams.”
Based in 1992 and headquartered in San Francisco, US, TPG managed $212 billion in belongings as of September 30, 2023.
DJ Hill, CEO of Compass Surgical Companions, stated: “TPG's funding will function a robust development catalyst, enabling enhanced infrastructure assist for our companions. We’re additionally grateful for Well being Velocity Capital's continued assist of our mission and confidence in our management crew.”
Compass Surgical Companions has a portfolio of healthcare and doctor joint ventures, with a observe document of creating greater than 250 ASCs.
