Valuation multiples for controlling interests in ambulatory service centers (ASCs) are increasing, according to the “2019 ASC Valuation Survey” from HealthCare Appraisers Inc. In the 2018 survey, no respondents observed average valuation multiples of 8.0x or greater for controlling interests in single-specialty ASCs, as compared to 24% this year, the survey says. Over half (56%) of respondents indicated they are observing valuation multiples of 8.0x or greater for controlling interests in multispecialty ASCs, as compared to 7% of respondents from the 2018 survey. For this new edition, HealthCare Appraisers Inc. collaborated with members of the Ambulatory Surgery Center Association (ASCA) to enhance participation. ASC management companies, health systems, as well as ASC investment bankers and business brokers determine trends in the value of ASCs. The data compiled represent over 1,000 ASCs throughout the country.