One company, Foundation Hospital Affiliates will focus on the development and management of surgical hospitals and other ancillary services, while the other company, Foundation Surgery Affiliates will focus exclusively on the development and management of ASCs.
Founder Thomas A. Michaud, CEO and chairman of Foundation HealthCare Affiliates, will lead the hospital company while Jon H. Friesen, the current CFO of Foundation HealthCare Affiliates, has been named president of Foundation Surgery Affiliates. Mr. Michaud will remain chairman of Foundation HealthCare Affiliates, as well as both subsidiaries. Robert M. Byers will remain COO and vice-chairman of Foundation HealthCare Affiliates and will be vice-chairman of both subsidiaries.
Mr. Michaud says the reason for the split is to be better positioned to capitalize on growth opportunities in both markets, respond quickly to a rapidly changing healthcare environment, and allow us to better focus our resources.
Mr. Friesen adds: We are excited about continuing the legacy of this line of business that Tom Michaud created thirteen years ago, and we are also energized about the opportunity to focus on growing the ambulatory surgery center business. With the fragmentation in the marketplace, we feel that these moves will allow us the necessary flexibility to capitalize on both growth and acquisition opportunities as they present themselves and to better serve our patients and partners.
Foundation HealthCare Affiliates was founded by Mr. Michaud in 1996. The company grew rapidly and is now offering healthcare management services to 28 facilities nationwide, including ASCs, surgical hospitals and bariatric clinics. Learn more about Foundation.
