Phoenix-based Banner Health has invested in Atlas Healthcare Partners, a group that develops and manages ambulatory surgery centers with health systems and physicians.
Atlas and Banner entered a joint venture in 2018 to build and operate a network of ASCs in Arizona, Colorado and Wyoming, according to a May 3 news release.
In the last three years, the venture grew the system's ASC footprint from eight to 26, increased volume by 155 percent and revenue by 475 percent.
By the end of 2025, the Banner Atlas joint venture anticipates doubling in size and owning and operating more than 50 ASCs.
"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," Scott Nordlund, Banner's chief strategy and growth officer, said in the release.