Picture a physician-owned ambulatory surgery center in its third year of operation. The center is profitable and thriving, and the owners decide it's time to cash out some of their equity, unload some risk and link up with a corporate partner to help take the business to the next level. They hear it's a seller's market these days, and that multiples are at an all-time high. There must be a dozen ASC companies chomping at the bit for a chance to partner with them, right?