Compass to Address Increasing Healthcare Costs with Strategic Investment from Health Velocity Capital
Raleigh, NC - March 11, 2022 // 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. “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.”
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