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USPI and United Urology Group to Form Joint Venture
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
United Surgical Partners International (USPI) and United Urology Group (UUG) announced a joint venture to enhance their ambulatory surgery centers (ASCs) across Maryland, Colorado, and Arizona. USPI will acquire part of UUG's interests in established and new facilities. This collaboration aims to improve access to high-quality urologic care and expand USPI's existing urology service line, leveraging UUG's network of over 140 leading urology physicians. The deal is expected to be finalized in Q3 2023, pending regulatory approvals.
Positive
Formation of a joint venture to enhance ambulatory surgery centers, increasing patient care accessibility.
Expansion of USPI's urology service line through collaboration with UUG, leveraging over 140 urology physicians.
Negative
None.
DALLAS & OWINGS MILLS, Md.--(BUSINESS WIRE)--
United Surgical Partners International (USPI), the largest ambulatory platform in the country and a subsidiary of Tenet Healthcare (NYSE: THC), and United Urology Group (UUG), one of the nation’s largest networks of urology affiliate practices, today signed a definitive agreement to form a joint venture partnership in 22 ambulatory surgery centers (ASCs). USPI will acquire a portion of UUG’s ownership interests in well-established and brand-new facilities located in Maryland, Colorado and Arizona.
A partnership with USPI will help UUG and its affiliated practices accelerate the delivery of ASCs in new markets and make patient care more accessible. The addition of UUG and its affiliated practice ASCs will complement USPI’s growing urology service line and expand its partnership network with more than 140 leading urology physicians.
“United Urology Group’s premier affiliated practices have set a very high standard for exemplary urologic care,” said Brett Brodnax, President and CEO of USPI. “The partnership will add high-quality urology centers within our existing markets. We are honored to serve additional patients and support the growth of these ASCs.”
“USPI’s commitment to innovation and depth of operational knowledge will benefit the growth and development of our ASCs,” said Sanford J. Siegel, MD, CEO of United Urology Group. “We have an exciting runway with USPI as our partner and look forward to bringing our patient-focused cultures together.”
The transaction is expected to be completed in the third quarter, subject to regulatory approvals and closing conditions. Upon completion, USPI will manage and jointly own the centers with UUG and its affiliated practices. The centers will be consolidated in Tenet Healthcare’s financial statements.
About USPI
United Surgical Partners International (USPI), a subsidiary of Tenet Healthcare Corporation (NYSE: THC), operates the largest ambulatory platform in the country. With more than 440 facilities across the United States, the company serves patients in ambulatory surgery centers and surgical hospitals. For more information, please visit www.uspi.com.
About United Urology Group
United Urology Group (UUG) is one of the nation’s largest networks of urology affiliate practices whose affiliates include: Arizona Urology Specialists with offices in the greater Phoenix/Scottsdale and Tucson areas; Chesapeake Urology, with offices located throughout Maryland and Delaware; Tennessee Urology, based in the greater Knoxville area and Eastern Tennessee; and Colorado Urology, located in the greater Denver and Front Range areas. UUG and affiliate practice staff number more than 1,400 employees, including 220+ physicians and advanced practice providers, in five states. UUG’s vision is to lead the transformation of urology through its commitment to accessible, high quality, and value-based care; patient and employee satisfaction; preserving autonomy of affiliate practices; continuous innovation; and community involvement.
