Companies · Hospitals and Physicians

ASC Partnership, L.L.C.

Traverse City · Hospitals and Physicians

Diligence memoA one-page analyst read on ASC Partnership, L.L.C. — recommendation, valuation, rhythm, risks.
$2.8M
Total raised · real
4
Rounds
0.5×
Latest step-up
Top 42%
Sector rank · raised
Seed
Latest stage · inferred · Wed Apr 09 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

ASC Partnership, L.L.C. looks under-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the health services sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.14× the median modeled value of Seed Hospitals and Physicians companies in 2025–2027 (11 peers) — value vs value, same stage and era.
  • Issuer reports $1M–$5M revenue while modeled below niche peers.
Active
  • Last raise 15 mo ago; this sector typically re-raises about every 12 months.
  • Raising on or ahead of the sector's normal rhythm.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Hospitals and Physicians

ASC Partnership, L.L.C. is one of 599 Hospitals and Physicians companies tracked from Traverse City. By capital raised it ranks mid-pack (ahead of 59% of sector peers), and in the long tail by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
$1M–$5M
Issuer revenue
Rule 506(b)
Reg D exemption
1
Investors (latest)
2025-04-09
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$13M$25M$38M$50MPre-Seed · 2015-02-19 Raised $278K (real) Modeled valuation $8.0M (est)$278K$8.0MPre-Seed2015Seed · 2020-12-22 Raised $2.0M (real) Modeled valuation $38M (est)$2.0M$38MSeed2020Seed · 2023-07-01 Raised $353K (real) Modeled valuation $2.4M (est)$353K$2.4MSeed2023Seed · 2025-04-09 Raised $175K (real) Modeled valuation $570K (est)$175K$570KSeed2025+$2.0M+$353K+$175KCumulative $2.8M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Pre-Seed$278K · 2015
Seed$2.0M · 2020
Seed extension$353K · 2023
Seed extension$175K · 2025

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$570K
Base estimate est.
$155K
Conservative case
$1.2M
Upside case
$877K
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the health services sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $8.0M · 2015-02-192015Seed · modeled $38.4M · 2020-12-22Seed · modeled $2.4M · 2023-07-01Seed · modeled $570K · 2025-04-092025
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
39%
Survival probability
18% low · 61% high
1.51×/yr
Annual markup
1.98×/yr upside case
1.2 yr
Elapsed time used
1.2 yr actual, capped for stale marks
health services
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
41 mo
Avg between rounds
$279K/yr
Capital velocity
11.4 yr
On record since
2015
First round
4
Rounds on file
How it compares to the market

Benchmarked against 599 companies in Hospitals and Physicians. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 1.6× above median
This company$2.8M
Sector median$1.8M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.1× of median
This company$175K
Sector median$1.6M
Modeled value — vs sector median (estimate, all stages) 0.0× of median
This company$570K
Sector median$22.9M

Raised more than 59% of sector peers (real $). Modeled value above 2% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Seed) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #11 of 11.

This companyCohort peer
$100K$1.0M$10.0M$100.0M$100K$1.0M$10.0MCapital raised (log)Mountain View Hospital, LLC · Seed Raised $3.4M · modeled $11.1M (est)HealthyU Family Medicine Holdings, LLC · Seed Raised $2.8M · modeled $7.6M (est)Waybridge Health, Inc. · Seed Raised $2.6M · modeled $7.1M (est)PERMA Mental Health PLLC · Seed Raised $2.0M · modeled $6.6M (est)Pasadena Fair Oaks Exer Management Services, LLC · Seed Raised $1.6M · modeled $5.5M (est)Ocean Pediatrics MSO, LLC · Seed Raised $1.2M · modeled $4.2M (est)Hamilton Surgery Center Group Inc · Seed Raised $2.7M · modeled $3.9M (est)ZRMC Operating, LLC · Seed Raised $1.1M · modeled $3.7M (est)Varsity Emergency Care Holdings, LLC · Seed Raised $4.6M · modeled $3.0M (est)ApolloMD Partners, Inc. · Seed Raised $8.1M · modeled $1.5M (est)ASC Partnership, L.L.C. (this company) Raised $2.8M · modeled $570K (est)ASC Partnership, L.L.C.
CompanyStageRaised · realValue · estvs peer med.
Mountain View Hospital, LLCSeed$3.4M$11.1M2.64×
HealthyU Family Medicine Holdings, LLCSeed$2.8M$7.6M1.81×
Waybridge Health, Inc.Seed$2.6M$7.1M1.68×
PERMA Mental Health PLLCSeed$2.0M$6.6M1.56×
Pasadena Fair Oaks Exer Management Services, LLCSeed$1.6M$5.5M1.32×
Ocean Pediatrics MSO, LLCSeed$1.2M$4.2M1.00×
Hamilton Surgery Center Group IncSeed$2.7M$3.9M0.93×
ZRMC Operating, LLCSeed$1.1M$3.7M0.88×
Varsity Emergency Care Holdings, LLCSeed$4.6M$3.0M0.70×
ApolloMD Partners, Inc.Seed$8.1M$1.5M0.35×
ASC Partnership, L.L.C. this companySeed$2.8M$570K0.14×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Pre-Seed$278K2015-02-19$1.5M$8.0M85%
Seed$2.0M2020-12-22$10.1M$38.4M90%
Seed$353K2023-07-01$1.8M$2.4M90%
Seed$175K2025-04-09$877K$570K90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Pre-Seed$278K2015-02-19
    • First recorded raise — entered as Pre-Seed.
    • 1 investor on this round.
  2. Seed$2.0M2020-12-22
    • Raised again after 70 mo — slower than the ~12 mo sector norm.
    • Round 7.3× larger than the prior — scaling up.
  3. Seed$353K2023-07-01
    • Raised again after 30 mo — slower than the ~12 mo sector norm.
    • Round 5.7× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  4. Seed$175K2025-04-09
    • Raised again after 21 mo — slower than the ~12 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 1 investor on this round.
Intelligence
2028 ~Q3
Modeled next raise · ~41mo cadence
$175K
Modeled next size est.range $175K$281K
0.5×
Last step-up
$279K/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Alexander A. Weick2023-07
Andrew A. Luea2023-07
Andrew C. Luea2025-04
Brian J. Kerr2015-02
Christopher C. Jeffries2025-04
Christopher P. Jeffries2020-12
Corey K. Treadway2025-04
Corey P. Treadway2020-12
Daniel D. Thuente2015-02
Edward R. Hagen2025-04
Glen H. Henbest2025-04
Heather E. Carroll2025-04
Jay Adam Starr2015-02
Jeffrey N. Wentzloff2025-04
Jeffrey P. Goldman2020-12
Kurt A. Sanford2015-02
Matthew P. Madion2015-02
Michael A. Nizzi2015-02
Paul A. Jacobson2015-02
Peter A. McAndrews2020-12
Rex Antinozzi2020-12
Richard C. Schultz2015-02
Robert E. Barnes2015-02
Steven P. Thomas2020-12
Registry & provenance

ASC Partnership, L.L.C. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1632654
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
San Joaquin Valley Surgery Center, LLCHospitals and PhysiciansSeed$2.8M$34.2Msame sector · same stage
HealthyU Family Medicine Holdings, LLCHospitals and PhysiciansSeed$2.8M$7.6Msame sector · same stage
Heartland Surgical Specialty Hospital LlcHospitals and PhysiciansSeed$2.8M$5.5Msame sector · same stage
Hamilton Surgery Center Group IncHospitals and PhysiciansSeed$2.7M$3.9Msame sector · same stage
Aspen Mountain Medical Center LLCHospitals and PhysiciansSeed$3.0M$5.9Msame sector · same stage
Heartland Surgical Specialty Hospital, LLCHospitals and PhysiciansSeed$3.0M$5.9Msame sector · same stage
NCH Naples Outpatient Surgical Institute, LLCHospitals and PhysiciansSeed$3.0M$23.7Msame sector · same stage
Nobilis Health Corp.Hospitals and PhysiciansSeed$2.7M$2.4Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Phycare ASC, LLCHospitals and PhysiciansPre-Seed$8.6M84%
Osc, LpHospitals and PhysiciansPre-Seed$2.9M84%
Partners In Care CorpHospitals and PhysiciansSeed$36.3M83%
DSB Parent L.P.Hospitals and PhysiciansSeries B$323.8M81%
Rosh Asc, LlcHospitals and PhysiciansPre-Seed$7.2M81%
Millennium Asc, LlcHospitals and PhysiciansPre-Seed$5.2M80%
USRC Partner Holdings, L.P.Other Health CareSeries B$356.5M79%
Caribbean Partners Medical CorpHospitals and PhysiciansPre-Seed$12.9M79%
Frequently asked
How much funding has ASC Partnership, L.L.C. raised?
ASC Partnership, L.L.C. has raised approximately $2.8M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is ASC Partnership, L.L.C.'s estimated valuation?
Provath's modeled valuation for ASC Partnership, L.L.C. is approximately $570K (modeled range $155K–$1.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is ASC Partnership, L.L.C. at?
ASC Partnership, L.L.C.'s latest modeled financing stage is Seed. Its most recent recorded round closed around Wed Apr 09.
What does ASC Partnership, L.L.C. do and where is it based?
ASC Partnership, L.L.C. operates in the Hospitals and Physicians sector, based in Traverse City.
Explore related

See where ASC Partnership, L.L.C. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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