Money, Multiples, & Margins: The Real State of ASC M&A in 2026

In this episode of the Claims Theory Podcast, Lindsay sits down with Chad Zoretic of VMG Health to break down what is really happening in ambulatory surgery center M&A right now.

Are valuations stabilizing or compressing? What EBITDA multiples are buers actually paying in 2026? Is this a buyer's market or a seller's market? And how much does revenue cycle performance really impact deal value?

Chad works at the intersection of ASCs, private equity, and high-level financial strategy. Together, the unpack:

• Current ASC deal flow trends
• EBITDA multiples for single-site vs. platform deals
• What buyers are prioritizing right now
• Financial red flags that kill valuation
• How disciplined operations drive premium exits
• Where the ASC market is headed over the next 3-5 years

If you own, operate, invest in, or advise ASCs, this is a must-listen. 

Because in 2026, preparation is not optional.

Discipline drives valuation.