Atlas Healthcare Partners (Atlas), which specializes in developing and managing ambulatory surgery centers (ASCs) in partnerships with health systems and physicians, announced that Banner Health has invested into Atlas.
“Based on the significant growth and success that Banner and Atlas have achieved together through our Banner Surgery Center network joint venture, it was a logical next step for Banner to invest in Atlas to help the company scale and grow into a larger national partner for other health systems as well,” said Scott Nordlund, Banner’s Chief Strategy and Growth Officer. “Banner’s decision to invest in Atlas aligns us at the management company level in addition to the regional joint venture and local ASC levels and creates a unique surgery center management company focused on creating strategic partnerships with health systems including ASC network development, investment and operations.”
Atlas formed a joint venture partnership with Banner in 2018 to develop and operate a network of ASCs in Arizona, Colorado, and Wyoming. This strategy has resulted in significant growth over the last three years, expanding from eight ASCs to 26, growing volume 155% and growing revenue by 475%. The Banner Atlas joint venture expects to double in size and own and manage over 50 ASCs by the end of 2025.
“We’re excited to expand our partnership with Banner,” said Atlas Healthcare Partners CEO Aric Burke. “Our multi-level partnership with Banner serves as an innovative model for other health systems seeking to develop and implement a fully integrated ASC strategy that aligns all parties; health system, management company, physicians, patients, and communities.”