Editor: What To Know
- With this funding and in support of high-performance orthopedic and spine ASCs, Compass will make specific investments in data and analytics, physician practice support services, hospital partnerships, value-based care, new service delivery models, patient and provider tools supporting the adoption of joint replacement and spine surgery programs, and other innovations, thus creating the next-generation delivery model for outpatient orthopaedics and better care for patients.
- Compass Surgical Partners (Compass), a full service, independent developer and manager of ambulatory surgery centers (ASCs) announced a minority investment by Health Velocity Capital, a growth equity firm that invests exclusively in innovative healthcare services and software businesses.
- He added, “Our team has developed and managed more than 250 ambulatory surgery centers over the course of our careers, and we have high conviction that the outpatient migration is accelerating and that providers deserve dedicated, independent partners to deliver superior clinical and financial results.
Compass Surgical Partners (Compass), a full service, independent developer and manager of ambulatory surgery centers (ASCs) announced a minority investment by Health Velocity Capital, a growth equity firm that invests exclusively in innovative healthcare services and software businesses. Concurrent with the financing, Marty Felsenthal, Health Velocity Capital Partner, joined Compass’ Board of Directors.
Ambulatory surgery centers (“ASCs”) are freestanding surgical facilities that serve as a convenient, low-cost, same-day-surgery surgery option for patients. Buoyed by clinical advancements allowing most surgeries to be provided safely in ASCs, the majority of surgeries have migrated into these centers.
Over the past few years, this trend has accelerated even faster with new technology, the adoption of safer and more effective techniques in anesthesia, and surgeons’ increased experience in non-hospital settings. COVID-19 both re-affirmed and accelerated the shift as ASCs become important tools to help alleviate hospital capacity. “Given the tailwinds in the market, we saw a window to further catalyze opportunities to develop high-quality ambulatory surgery centers with trusted partners,” said DJ Hill, CEO of Compass Surgical Partners.
He added, “Our team has developed and managed more than 250 ambulatory surgery centers over the course of our careers, and we have high conviction that the outpatient migration is accelerating and that providers deserve dedicated, independent partners to deliver superior clinical and financial results. Partnering with Health Velocity Capital will benefit our joint ventures, as the firm has deep expertise in rapid innovation deployment and shares our belief in the importance of high-quality ASCs.”
Health Velocity Capital expressly partners with entrepreneurs and investors working toward a more affordable, sustainable, consumer-friendly healthcare system.
“We work with our partners to help them identify the right innovative themes, companies, and strategies to embrace at the right time. Compass Surgical Partners is disrupting a distinct and rapidly growing healthcare vertical,” said Marty Felsenthal, Partner at Health Velocity Capital. “We are excited to play a strategic, supporting role in helping to fuel Compass’ next phase of growth as it enters new markets and collaborates with other providers to drive value while continuing to redefine the care experience for its patients and providers.”
With this funding and in support of high-performance orthopedic and spine ASCs, Compass will make specific investments in data and analytics, physician practice support services, hospital partnerships, value-based care, new service delivery models, patient and provider tools supporting the adoption of joint replacement and spine surgery programs, and other innovations, thus creating the next-generation delivery model for outpatient orthopaedics and better care for patients.
