Surgical Hospital M&A | Oklahoma Spine Hospital Acquired by SSM Health (~7.0x EBITDA / 0.90x Revenue)
- Will Hamilton
- Feb 2
- 2 min read
On February 2, 2026, Medical Facilities Corporation (TSX: DR) announced the sale of its 64% interest in Oklahoma Spine Hospital, LLC (OSH) to SSM Health, a nonprofit health system, for $46 million in cash. The purchase price implies a total 100% enterprise value of approximately $71.9 million. The transaction also included the concurrent sale of Medical Facilities' 51% interest in the Surgery Center of Newport Coast, LLC to Newport Orthopedic Institute for $19.5 million.
Oklahoma Spine Hospital is a specialty surgical hospital focused on spine and joint procedures, located in Oklahoma City, Oklahoma. According to the press release, for the fiscal year ended December 31, 2024, excluding government stimulus income, OSH generated facility service revenue of $76.4 million and income from operations of $6.7 million. The acquisition by SSM Health, a nonprofit Catholic health system headquartered in St. Louis, expands its presence in the Oklahoma City market.
The transaction reflects continued consolidation in the specialty surgical hospital segment, with nonprofit health systems pursuing targeted acquisitions of high-acuity surgical facilities to complement their acute care networks.
Surgical / Specialty Hospital EBITDA Multiples
According to the press release, the purchase price was $46m for a 64% interest. According to the financial statements, revenue and EBITDA for the last twelve months were $79.6 million and $10.3 million, respectively, implying multiples of 0.9x revenue and 7x EBITDA.
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Hospital / Specialty Surgical M&A Deal Volume
The number of announced U.S. general acute care and specialty hospital deals dipped slightly in 2025 after a strong rebound in 2023 and 2024 from the declines that occurred in the second half of 2021 and persisted throughout 2022. Volume averaged 21 per quarter in 2025, down from 24 per quarter in 2024, and up from 18 in 2022.
Other Hospital / Specialty Surgical Deals
Read Scope Research's take on other specialty hospital M&A transactions:
About Scope Research
The Scope Research Healthcare M&A Valuation Database currently has financial details related to specialty and surgical hospital deals, including IRF, LTAC, and ASC transactions, with a meaningful proportion including disclosed EBITDA multiples. The data can be purchased individually, while our affordable annual subscriptions provide access to all of our healthcare M&A databases and segments, updated continuously.
Don't hesitate to reach out to Will Hamilton at will@scoperesearch.co with questions about your specific situation.
