Banner Health is investing in ambulatory surgical center developer Atlas Healthcare Partners, the companies announced Tuesday.
The deal builds on the four-year-old Banner Surgery Center collaboration between the two Phoenix-based companies and will enable Banner Health to double the number of ambulatory surgical centers in its not-for-profit system by 2025, according to a news release. The partners didn't disclose financial terms.
"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," Atlas Healthcare Partners CEO Aric Burker said in a news release.
Health systems have increasingly invested in ambulatory surgical centers, which can perform procedures at lower cost than hospitals. Referring patients to these alternate sites also frees up inpatient beds. Moreover, these joint ventures help health systems attract and retain top physicians.