2025 · PE Surgical Platform Index

Revenue Leakage
Leaderboard

30 of the largest PE-backed surgical platforms, ranked by estimated annual revenue lost to cancelled surgical slots.

30
Platforms Ranked
$1.8B
Total Estimated Leakage
$1.1B
Recoverable with CaseFlow
Leakage formula: locations × avg_slots_per_week × cancel_rate × avg_revenue_per_slot × 52 weeks × 60% recovery gap
Sources: Beckers ASC Review (PE platform consolidation, 2024), MedPAC 2024 (outpatient surgery underutilization), MGMA DataDive 2023 (OR case revenue by specialty), JAMA Surgery 2022 (same-day cancellation predictors).
# Platform PE Firm Specialty Mix Locations Est. Annual Leakage CaseFlow Recovery
1
SCA Health
UnitedHealth / Optum Multi-Specialty ASC, Ortho, GI, Spine 300 $198M $119M Analyze →
2
USPI
NMSA / Tenet Healthcare Orthopedic, GI Endoscopy, Ophthalmology, Spine 250 $187M $112M Analyze →
3
HOPCo
WCAS (Welsh, Carson, Anderson & Stowe) Orthopedic, Spine, Pain Management 90 $127M $76M Analyze →
4
Curalta Health
WCAS Orthopedic, Sports Medicine, Foot & Ankle 60 $85M $51M Analyze →
5
Summit Orthopedics
Wealthy Orthopedic, Spine, Sports Medicine 45 $72M $43M Analyze →
6
Resolve Surgical Solutions
WCAS Orthopedic, Joint Replacement 55 $68M $41M Analyze →
7
Eye Health America
WCAS Ophthalmology, Retina, Cataract 50 $64M $38M Analyze →
8
One GI
GTCR GI Endoscopy, Bariatric 70 $62M $37M Analyze →
9
OrthoFlorida
Vitaliate Healthcare Orthopedic, Spine, Sports Medicine 50 $62M $37M Analyze →
10
Apollo Health
GTCR Ophthalmology, Retina, ASC Multi-Specialty 55 $58M $35M Analyze →
11
CVAUSA
WCAS Cardiology, Peripheral Vascular 50 $58M $35M Analyze →
12
Spire Health
WCAS Orthopedic, Spine, Sports Medicine 40 $56M $34M Analyze →
13
Gastro HealthOne
OMERS GI Endoscopy, Hepatology 65 $55M $33M Analyze →
14
Rula Health
KKR Gastroenterology, Pain Management 45 $52M $31M Analyze →
15
Vivex Biomedical
Revelstoke Capital Pain Management, Orthopedic 35 $48M $29M Analyze →
16
Comprehensive Urological Society
NMSA Urology, BPH, Stone Disease 48 $47M $28M Analyze →
17
Cardiovascular Partners
WCAS Cardiology, Structural Heart 38 $46M $28M Analyze →
18
The Urology Institute
Revelstoke Capital Urology, BPH, Kidney Stone 40 $44M $26M Analyze →
19
ProEx Orthopedics
Parform Capital Orthopedic, Sports Medicine, PT Integration 42 $43M $26M Analyze →
20
StrideCare
WCAS Vascular Surgery, Vein 35 $42M $25M Analyze →
21
Align Ortho
Linden Capital Partners Orthopedic, Sports Medicine 32 $41M $25M Analyze →
22
Skyway Surgical
Varsity Healthcare Partners GI Endoscopy, General Surgery 38 $39M $23M Analyze →
23
Regenexx
FTW Partners Orthopedic, Sports Medicine 30 $38M $23M Analyze →
24
Southern Bone & Joint
Lattice Health Orthopedic, Spine, Pain Management 28 $36M $22M Analyze →
25
NYOS
Lattice Health Orthopedic, Spine, Sports Medicine 25 $35M $21M Analyze →
26
Arise Health (SpineNevada)
Worden Capital Spine, Orthopedic 25 $35M $21M Analyze →
27
Prism Health
GTCR Bariatric, GI Endoscopy, Metabolic 30 $34M $20M Analyze →
28
Midwest Orthopedic Specialty Hospital
Shore Capital Partners Orthopedic, Joint Replacement, Spine 18 $32M $19M Analyze →
29
Atlas Spine
Webster Capital Spine, Orthopedic 22 $29M $17M Analyze →
30
Symbios Medical
Shore Capital Partners Orthopedic, Joint Replacement, Spine 20 $27M $16M Analyze →
📋 Download the full PE platform leakage ranking PDF — methodology, all 30 platforms, dealroom links