HealthCare Appraisers Inc. has interviewed ambulatory surgery centers(ASCs) to determine trends in the value and characteristics of ASC ownership interests. It has just released the “2018 ASC Valuation Survey” for which it compiled data that represent over 700 ASCs throughout the country. Here are just a few of the findings:

Single-specialty centers (controlling interest):

• 76% of respondents reported valuation multiples of 6.0x to 7.9x EBITDA; and
• 23% of respondents reported valuation multiples of 5.0x to 5.9x EBITDA.

Multispecialty centers (controlling interest):

• 64% of respondents reported valuation multiples of 7.0x to 7.9x EBITDA; and
• 29% of respondents reported valuation multiples of 6.0x to 6.9x EBITDA.