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Scottsdale Healthcare & Sovereign Healthcare Acquire Majority Ownership of Arizona's Biltmore Surgical Center

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Scottsdale Healthcare and its joint venture partner Sovereign Healthcare have completed a transaction, acquiring majority ownership of Biltmore Surgical Center in Phoenix, Ariz., according to a Business Wire report.

The transaction allows Scottsdale Healthcare to expand patient access to off-campus outpatient surgery services and strengthen alignment with physicians.

Biltmore Surgical Center opened in late 2010, and Scottsdale Healthcare, through its joint venture with Sovereign, has been a minority partner. Through this transaction, the Scottsdale Healthcare/Sovereign joint venture will now have three majority-owned outpatient surgery centers.

Biltmore Surgical Center will continue to be owned in partnership with almost 25 physician specialists.

Related Articles on Transactions & Valuation:
10 Surgery Center Openings & Approvals in CON States
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