Merritt Healthcare advised Fairfield (Conn.) Surgery Center in a recent transaction with National Surgical Hospitals. Here are five things to know about the transaction and the parties involved.
1. National Surgical Hospitals purchased an interest in the Fairfield Surgery Center. The principals of Merritt Healthcare advised the surgery center on selection of a purchaser, due diligence and documentation.
2. Fairfield Surgery Center is a part of the Orthopaedic Specialty Group. The physician group developed the 7,000-square-foot surgery center in 1999. The facility has two operating rooms and offers procedures such as cartilage replacement, fracture management, foot and ankle surgery, rotator cuff repair, hand surgery, knee ligament repair and arthroscopic surgery.
3. National Surgical Hospitals manages and partners with surgical facilities. The company’s business is heavily focused on orthopedics. In 2012, 76 percent of the company’s revenue was driven by the musculoskeletal specialty.
4. Merritt Healthcare is an ASC management and development company. The company also offers brokerage, advisory and turnaround services. Matt Searles, MBA, and Rich Searles are registered investment banking agents with Series 79 and 63 licenses. Securities are offered through Burch & Company.
5. With the closing of this acquisition, National Surgical Hospitals now owns interests in eight ambulatory surgery centers and 13 specialty surgical hospitals. The Fairfield Surgery Center is the company’s first presence in Connecticut.
More Articles on Transactions and Valuation Issues:
N.Y. Physicians Receive Approval for Pain Management ASC
4 Recent ASC Industry Acquisitions
Beloit Health System ASC Project Remains in Limbo
© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.