The city of Knoxville, Tenn., has invested $70 million to convert a series of buildings into a new public safety complex. Part of the renovation will involve converting the 25,000-square-foot St. Mary's ASC into an urgent care and behavioral health facility, according to a June 12 report from NBC news affiliate WBIR.

ASC development is becoming increasingly lucrative for health systems and hospitals as more complex procedures move to the outpatient setting. 

Major ASC chain AmSurg owns about 4.3 percent of the market, with 256 ASCs nationwide based on a count from 2022. It recently reached a deal to purchase additional ASCs from its affiliate Envision Healthcare in the wake of Envision's bankruptcy filing. 

The 69th Fortune 500, released June 5, ranked the largest corporations in the U.S. by revenue for 2022. 

Here are three ASC deals that Becker's has reported on since June 5:

St. Louis-based Ascension has reached an agreement to transfer ownership of its Binghamton, N.Y.-based Our Lady of Lourdes Memorial Hospital​ and its affiliated facilities, including an ASC, to the Sayre, Pa.-based Guthrie Clinic, according to a June 8 report from Spectrum News.

As costs rise and the industry increasingly consolidates, physician practices are increasingly looking to hospitals, health systems and commercial groups for financial security, according to a report published June 7 by the American Hospital Association.  

Kansas City-based ValueHealth has partnered with Naples, Fla.-based NCH Healthcare System to develop a 12,000-square-foot ASC in Naples on the NCH Baker Hospital campus. 

Harry Severance, MD, an adjunct assistant professor at Durhan, N.C.-based Duke University School of Medicine, joined Becker's to discuss how physicians increasingly moving to employed models has shifted the workforce to what he calls a "seller's market."

Falls Church, Va.-based Inova Health System has acquired another local specialty physician practice, expanding its footprint and services, according to a June 6 report from the Washington Business Journal. 

While there are several major ASC management and partnership companies in the U.S. — including SCA Health, Atlas Healthcare Partners and AmSurg — one company is outpacing the rest in size and patient encounters. 

Thirty percent of the ASC industry is owned and operated by big surgery center chains, according to VMG Health's "Annual Healthcare M&A Report 2023."

ASC valuation multiples have been fluctuating in transactions over the last year, according to a report from VMG Health's Annual Healthcare M&A Report 2023.

According to Michael Meyers, president and CEO of Manhasset, N.Y.-based medtech company Meyers & Gerard Medical, Optum's quick growth and acquisition of physician groups is a cause for concern. 

Optum, parent company of ASC chain SCA Health, is the largest employer of physicians in the country. 

Amish Oza, MD, medical director of Marion, Ohio-based Midwest Internal Associates, has purchased an 8,500-square-foot medical office building that formerly housed Midwest Spine & Pain for $1.85 million, according to a June 1 report from Columbus Business First.

Although the ASC industry is slowly consolidating, the industry as a whole has remained independent amid increasing healthcare consolidation. 

Dallas-based United Surgical Partners International is the largest ASC chain in the country. 

Here are 10 new partnerships between healthcare organizations, physician groups and more to know, as reported by Becker's in May.

Orlando (Fla.) Health has purchased a two-story medical office building from pharmaceutical chain Walgreens for $4.1 million, according to a May 31 report from the Orlando Business Journal.