N.Y. Physicians Receive Approval for Pain Management ASC
The owners expect to perform 8,000 procedures in the first year and 10,000 procedures in the next at the 9,420-square-foot center, with a respective $3 million and $4 million in resulting profits, according to plans filed with the state.
The center's owners will be Martin Ferrillo, DO, and Edward Apicella, MD, of The Albany & Saratoga Center for Pain Management; and Charles Gordon, MD, and Quentin Phung, MD, of New York Pain Management. Heritage Ambulatory Surgery Center, a separate four-physician ASC, would provide consulting and administrative services, according to the report.
While the new ASC received opposition from Albany-based St. Peter's Hospital on the grounds that it would lose $1 million in referrals and other surgeries should the ASC be opened, the state determined the hospital would lose little, as none of the physician owners perform procedures with the hospital.
More Articles on Transaction and Valuation:
Columbus Community Hospital to Break Ground on Surgery Center
South Carolina CON Law to Remain in Place: 5 Things to Know
14 ASC Industry Transactions in 2014 So Far
© Copyright ASC COMMUNICATIONS 2015. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.
- Brookwood Medical Center completes Gardendale Surgical Center acquisition
- CMS bumps up payments for incomplete colonoscopies: 3 key points
- ABIM update: CME approved for MOC points
- Thousands of California's 'dual eligibles' rejecting state-managed healthcare — 7 things to know
- AmSurg proposes public offering of 5.5M common stock shares — 5 key points