A new ‘Costco’ ASC model that bypasses private equity (Becker’s Healthcare)

Ker Leader Medical, a new ASC development company, aims to protect physician autonomy by bypassing private equity and working directly with investment groups. John Webb, one of Ker’s founders and president of MMC Capital Markets, explained that the company was formed to address the challenges ASC leaders face when selling to private equity—where original stakeholders often lose control, and key employees are left behind.

Ker’s model consolidates several ASCs under shared management while allowing physicians to retain decision-making authority. “We eliminate the middlemen,” Webb said, likening their approach to Costco by leveraging direct financial partnerships to reduce costs and maintain control.

With private equity under increasing scrutiny—60% of physicians and many patients expressing concerns about its negative impact—Ker Leader Medical offers an alternative. The model focuses on efficient operations and flexibility, allowing groups to scale while preserving independence over financial and clinical decisions.