Here are 10 surgery centers recently acquired, opened, approved or planned for the future.
1. Cleveland Clinic Purchases Ohio's Marymount Surgery Center. Cleveland Clinic in Ohio has purchased the Marymount Ambulatory Surgery Center in Garfield Heights, Ohio. The Clinic, whose operating rooms and offices fill the 50,000-square-foot outpatient building, acquired the company and assumed a mortgage. The deal totaled $10.9 million and closed Aug. 29. Peter Volas, senior director of real estate for the hospital system, said the Clinic does not plan to make significant changes to the facility. The Clinic has been a tenant in the building since 1997 and had an option to purchase the property within its lease.
2. Physicians Endoscopy Acquires Minority Interest in Illinois' Elgin Gastroenterology Endoscopy Center. Physicians Endoscopy, a leading GI ASC development and management company, recently announced the acquisition of a minority interest in the Elgin (Ill.) Gastroenterology Endoscopy Center. EGEC is a joint venture partnership between six gastroenterologists and Physicians Endoscopy, which will provide administrative services to the facility. EGEC is a single-specialty ASC treating gastrointestinal disorders. The two-room endoscopy center is located next to the physicians' practice, Illinois Gastroenterology Group-Elgin.
3. Ohio's The Urology Group Opens New Surgery Center. The Urology Group has opened a new $20 million headquarters, including a surgery center. The facility consists of 55,000 square feet, including an outpatient surgery center. The new, three-story headquarters includes more than $3 million in diagnostic and surgical equipment for the treatment of kidney stones. The Urology Group includes 35 physicians who perform more than 14,000 surgeries per year.
4. Chesterfield Approves Overnight Stays for Missouri Surgery Center. George Paletta Jr., MD, the celebrated St. Louis Cardinals medical director/head team physician, has received approval from Chesterfield, Mo., officials to build an orthopedic surgical center that will keep some patients overnight. The Chesterfield City Council approved a zoning amendment last night allowing up to 72-hour stays at Dr. Paletta's new facility. Area hospitals opposed the decision, saying the facility would be a hospital by definition if it included overnight stay.
5. Construction Plans for Florida's Newsom Eye Surgery Center Move Forward. Construction plans for the Newsom Eye Surgery Center in Sebring, Fla., have moved forward following council approval of annexation. Council members unanimously approved the proposal for annexation of the three-story building. The grant approval will provide approximately 80 jobs, according to the report.
6. Surgical Care Affiliates Proposes to Move Illinois Surgery Center to Vernon Hills. Surgical Care Affiliates may move its Libertyville, Ill.-based Hawthorn Surgery Center to a new location in Vernon Hills, Ill. The new $10 million facility would be an upgrade from the current location, which Surgical Care Affiliates said is outdated in its application to the Illinois Health Facilities and Services Review Board. Hawthorn currently performs a wide range of surgeries and netted $9.1 million in patient revenue in 2011. SCA must receive approval from the board before the surgery center moves. In a letter to the board, David Havill, vice president of administration at nearby Lake Forest Hospital, said the hospital and a Northwestern surgery center in Grayslake, Ill., are able to handle the community's patient volume, making a new surgery center unnecessary.
7. Tennessee's Maury Regional Medical Center to Complete $7.9M ASC by November. Maury Regional Medical Center's $7.9 million surgery center in Spring Hill, Tenn., will be complete in early November, according to a Tennessean report. The 62,365-square-foot facility will include a pediatric clinic, specialty clinic, physical therapy and radiation oncology and will be built in cooperation with Vanderbilt Operative Services. Outpatient surgery center services are expected to include orthopedic, gynecological, urologic and ENT procedures.
8. Michigan's Beaumont Health System Adds Center for Minimally Invasive Gynecologic Surgery. Beaumont Health System in Royal Oak, Mich., has expanded its services with a center for minimally invasive gynecologic surgery. The center offers minimally invasive surgical options for women with gynecologic conditions, including uterine fibroids or tumors, ovarian cysts, heavy menstrual bleeding, pelvic pain, urinary incontinence and pelvic floor relaxation. Jay Fisher, MD, director of the Center of Minimally Invasive Gynecologic Surgery, leads a team of surgeons and support staff at the Royal Oak-based center. The surgical staff uses the da Vinci robot to perform procedures with a high degree of precision.
9. Omaha's Methodist Hospital Plans $75M Surgery Center. Omaha's Methodist Hospital has announced plans for a $75 million surgery center. The construction project, which will begin early next year, is the latest upgrade of surgical space among area hospitals. Nebraska Medical Center and several hospitals in the Alegent Creighton Health system have undergone operating room renovations over the past several years. The Methodist project will increase the number of pre-op and recovery rooms from 32 to 44 and increase the number of operating rooms from 12 to 15.
10. AOK Spine and Pain Surgery Center Opens in Houston. AOK Spine and Pain surgery center officially opened in August 2012 in Houston, Texas. AOK Spine and Pain, which is a spinal surgery center and pain management center, is the newest facility to be added to the AOK Medical Center. With the opening of the center, AOK Medical Center will now be able to offer pain management, spine surgery, endoscopic carpal tunnel treatment, Tarsal Tunnel treatment and Baxter's Nerve entrapment.
Related Articles on Transactions & Valuation:
Cleveland Clinic Purchases Marymount Ambulatory Surgery Center in Garfield Heights
5 Tips on Preparing an ASC to Sell
Covenant Surgical Partners Raises $3M in New Equity
1. Cleveland Clinic Purchases Ohio's Marymount Surgery Center. Cleveland Clinic in Ohio has purchased the Marymount Ambulatory Surgery Center in Garfield Heights, Ohio. The Clinic, whose operating rooms and offices fill the 50,000-square-foot outpatient building, acquired the company and assumed a mortgage. The deal totaled $10.9 million and closed Aug. 29. Peter Volas, senior director of real estate for the hospital system, said the Clinic does not plan to make significant changes to the facility. The Clinic has been a tenant in the building since 1997 and had an option to purchase the property within its lease.
2. Physicians Endoscopy Acquires Minority Interest in Illinois' Elgin Gastroenterology Endoscopy Center. Physicians Endoscopy, a leading GI ASC development and management company, recently announced the acquisition of a minority interest in the Elgin (Ill.) Gastroenterology Endoscopy Center. EGEC is a joint venture partnership between six gastroenterologists and Physicians Endoscopy, which will provide administrative services to the facility. EGEC is a single-specialty ASC treating gastrointestinal disorders. The two-room endoscopy center is located next to the physicians' practice, Illinois Gastroenterology Group-Elgin.
3. Ohio's The Urology Group Opens New Surgery Center. The Urology Group has opened a new $20 million headquarters, including a surgery center. The facility consists of 55,000 square feet, including an outpatient surgery center. The new, three-story headquarters includes more than $3 million in diagnostic and surgical equipment for the treatment of kidney stones. The Urology Group includes 35 physicians who perform more than 14,000 surgeries per year.
4. Chesterfield Approves Overnight Stays for Missouri Surgery Center. George Paletta Jr., MD, the celebrated St. Louis Cardinals medical director/head team physician, has received approval from Chesterfield, Mo., officials to build an orthopedic surgical center that will keep some patients overnight. The Chesterfield City Council approved a zoning amendment last night allowing up to 72-hour stays at Dr. Paletta's new facility. Area hospitals opposed the decision, saying the facility would be a hospital by definition if it included overnight stay.
5. Construction Plans for Florida's Newsom Eye Surgery Center Move Forward. Construction plans for the Newsom Eye Surgery Center in Sebring, Fla., have moved forward following council approval of annexation. Council members unanimously approved the proposal for annexation of the three-story building. The grant approval will provide approximately 80 jobs, according to the report.
6. Surgical Care Affiliates Proposes to Move Illinois Surgery Center to Vernon Hills. Surgical Care Affiliates may move its Libertyville, Ill.-based Hawthorn Surgery Center to a new location in Vernon Hills, Ill. The new $10 million facility would be an upgrade from the current location, which Surgical Care Affiliates said is outdated in its application to the Illinois Health Facilities and Services Review Board. Hawthorn currently performs a wide range of surgeries and netted $9.1 million in patient revenue in 2011. SCA must receive approval from the board before the surgery center moves. In a letter to the board, David Havill, vice president of administration at nearby Lake Forest Hospital, said the hospital and a Northwestern surgery center in Grayslake, Ill., are able to handle the community's patient volume, making a new surgery center unnecessary.
7. Tennessee's Maury Regional Medical Center to Complete $7.9M ASC by November. Maury Regional Medical Center's $7.9 million surgery center in Spring Hill, Tenn., will be complete in early November, according to a Tennessean report. The 62,365-square-foot facility will include a pediatric clinic, specialty clinic, physical therapy and radiation oncology and will be built in cooperation with Vanderbilt Operative Services. Outpatient surgery center services are expected to include orthopedic, gynecological, urologic and ENT procedures.
8. Michigan's Beaumont Health System Adds Center for Minimally Invasive Gynecologic Surgery. Beaumont Health System in Royal Oak, Mich., has expanded its services with a center for minimally invasive gynecologic surgery. The center offers minimally invasive surgical options for women with gynecologic conditions, including uterine fibroids or tumors, ovarian cysts, heavy menstrual bleeding, pelvic pain, urinary incontinence and pelvic floor relaxation. Jay Fisher, MD, director of the Center of Minimally Invasive Gynecologic Surgery, leads a team of surgeons and support staff at the Royal Oak-based center. The surgical staff uses the da Vinci robot to perform procedures with a high degree of precision.
9. Omaha's Methodist Hospital Plans $75M Surgery Center. Omaha's Methodist Hospital has announced plans for a $75 million surgery center. The construction project, which will begin early next year, is the latest upgrade of surgical space among area hospitals. Nebraska Medical Center and several hospitals in the Alegent Creighton Health system have undergone operating room renovations over the past several years. The Methodist project will increase the number of pre-op and recovery rooms from 32 to 44 and increase the number of operating rooms from 12 to 15.
10. AOK Spine and Pain Surgery Center Opens in Houston. AOK Spine and Pain surgery center officially opened in August 2012 in Houston, Texas. AOK Spine and Pain, which is a spinal surgery center and pain management center, is the newest facility to be added to the AOK Medical Center. With the opening of the center, AOK Medical Center will now be able to offer pain management, spine surgery, endoscopic carpal tunnel treatment, Tarsal Tunnel treatment and Baxter's Nerve entrapment.
Related Articles on Transactions & Valuation:
Cleveland Clinic Purchases Marymount Ambulatory Surgery Center in Garfield Heights
5 Tips on Preparing an ASC to Sell
Covenant Surgical Partners Raises $3M in New Equity