TPG announces investment in Compass Surgical Partners, terms undisclosed

TPG announced a significant strategic investment in Compass Surgical Partners , an independent full-service ambulatory surgery center ASC development and management partner. TPG Growth, the firm’s middle market and growth equity platform, is funding the investment, participating alongside existing investor Health Velocity Capital. As a strategic capital partner, TPG will bring valuable expertise to the Compass Surgical Partners leadership team, accelerating growth and scaling capacity in response to increased demand in ASC joint ventures from health system partners…”We are thrilled to partner with the team at TPG Growth, which brings a wealth of healthcare services experience and strategic resources to Compass. TPG’s investment will serve as a powerful growth catalyst, enabling enhanced infrastructure support for our partners,” said DJ Hill, Chief Executive Officer of Compass Surgical Partners. “We are also grateful for Health Velocity Capital’s continued support of our mission and trust in our leadership team. This is an exciting time for Compass and the ASC industry and we are well positioned to provide enhanced value to our joint venture centers, physician partners, and patients.” Terms of the transaction were not disclosed. Latham & Watkins served as legal counsel to TPG and Crowe LLP advised on accounting, tax, and IT. McDermott Will & Emery served as legal counsel to Compass.