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.
New From Becker's ASC Review
Texas Health Surgery Center Rockwall files form D — 4 things to knowRead Now
- Immunotherapy may extend pancreatic cancer patient survival: 6 key notes
- WAMC Gastrointestinal Endoscopy unit receives recognition for excellence: 5 key notes
- Woman wins $1.5M in verdict after Bloomsburg University Nurse Anesthesia Program dismissal
- 4 things to know about rising rates of chlorine-resistant parasite
- Drew Memorial Hospital discuss plans for new surgery center project: 5 key notes