Meet the PE group challenging the acquisition of Optum for Surgery Partners

Private equity firm TPG is one of several groups competing with Optum parent UnitedHealth Group to buy Brentwood, Tennessee-based ASC operator Surgery Partners. Bloomberg reported on August 23.

The deal is in its early stages and is unconfirmed, the report said.

Here are five things to know about TPG Capital:

1. In January, TPG made a strategic investment in Raleigh, North Carolina-based ASC chain Compass Surgical Partners, which has 19 ASCs in its portfolio.

2. The investment is funded by TPG Growth, the company’s private equity and growth platform, as well as Compass’ existing investor, Health Velocity Capital.

3. TPG will bring “valuable expertise” to Compass Surgical Partners, according to a statement, “accelerating growth and increasing capacity in response to increased demand for ASC joint ventures from health system partners.”

4. TPG Health invested in Houston-based Kelsey-Seybold, one of the nation’s largest physician groups, in 2020. In 2022, Optum acquired Kelsey-Seybold for approximately $2 billion.

5. Other healthcare investments include Blue Cloud, the nation’s largest operator of pediatric dental care centers, value-based care company Evolent Health and urgent care provider Go Health.