Here are five key points:
1. With part of the investment, Essential Health will buy a minority ownership stake in Grand Rapids, Minn.-based Lakewood Surgery Center.
2. Lakewood Surgery Center is across the street from a hospital Fairview owns. Fairview signed a merger agreement nearly a year ago and assumed ownership in a Grand Rapid hospital, creating more competition for Essentia Health.
3. Operating in the area for 11 years, the partnership will help Lakewood Surgery Center expand its services to patients, according to Dan Margo, MD, a general surgeon with the ASC.
4. Healthcare analyst Allan Baumgarten, told Star Tribune, “Essentia, which is already present in that part of north-central Minnesota, has determined that it’s in its interest to expand that presence — no doubt motivated in part by the new competition from Fairview.”
5. Essentia is also planning a 25,000-square-foot expansion to its health clinic in Grand Rapids.
More articles on surgery centers:
Where ASCs fit in a consolidating marketplace — Is independence an option?
7 insights into multispecialty ASCs’ average regional earnings — What region is 1st?
3 keys for successful relationships between orthopedic, spine practices and their ASCs
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.