2 Illinois ASCs Sell Majority Stakes to Edward Hospital

Salt Creek Surgery Center in Westmont, Ill., and Midwest Endoscopy Center in Naperville, Ill., have sold majority stakes to the area's largest health system, Edward Hospital & Health Services.

According to documents filed with the Illinois Health Facilities and Services Review Board, Edward Health Ventures, a subsidiary of Edward, will be the new majority owner of both. It will acquire 60 percent of Salt Creek Surgery Center for just less than $7.1 million and 55 percent of Midwest Endoscopy Center for $12.9 million. Both transactions are expected to close by Dec. 31.

Salt Creek Surgery Center has four operating rooms and is a joint venture among 32 independent orthopedic surgeons. Midwest Endoscopy Center is the only freestanding endoscopy center in its county and has five physician owners.

"This is another expansion of outpatient services to better serve our communities, better coordinate care and ensure access to affordable healthcare options," said Bill Kottmann, vice president of Edward and president of Edward Health Ventures, in an emailed statement.

Edward and Elmhurst (Ill.) Memorial Healthcare finalized their merger this past summer. The three-hospital system has not yet chosen a new name and legally does business as Edward-Elmhurst Healthcare for the time being.

More Articles on Hospitals and ASCs:
Baylor Health Care, USPI to Open Joint Venture Surgical Facility
Beloit Health System to Add Surgery Center at NorthPointe Health & Wellness
ASC-Hospital Joint Ventures: 3 Must-Have Traits for Hospital Partners

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