24 new ASC joint ventures

Listen
Text
  • Small
  • Medium
  • Large

Freestanding ambulatory surgery centers still operate in today's industry, but joint venture partnerships are proliferating. Standalone centers are seeking larger partners and hospitals are finding joint venture ASCs useful vehicles for physician alignment. Here are 24 joint venture ASC partnerships that began within the past year.

If you would like to recommend a center for this list, please contact Carrie Pallardy at cpallardy@beckershealthcare.com.

Arizona

North Valley Surgery Center, one of the largest surgery centers in Arizona, opened in Scottsdale. North Valley Surgery Center is a partnership between physicians, Sovereign Healthcare and Scottsdale Healthcare. Sovereign Healthcare, based in Mission Viejo, Calif., manages the center.

California

Davis (Calif.) Surgery Center and UC Davis Medical Center in Sacramento, Calif., created an affiliation agreement that allows UC Davis orthopedic surgeons to perform cases at the surgery center.

Surgical Care Affiliates and Newport Beach, Calif.-based DISC Sports & Spine formed a joint venture. The goals of the joint venture are to "elevate the quality of outpatient surgery, increase accountability and reduce costs to consumers," according to a news release.

Newport Beach, Calif.-based Hoag Memorial Hospital Presbyterian reopened in Newport Bay Surgery Center, an ophthalmology center. The surgery center is a three-OR center opened in 2006. It has more than 35 physicians on staff and performs more than 5,000 procedures each year, according to the report.

Glendale (Calif.) Adventist Medical Center reopened the Physicians Adventist Surgery Center as a joint venture, with local physicians as stakeholders and ASD Management as the managing company. The center was first opened in 2008 as the Ambulatory Surgical Center. Now, 21 of the center's 46 physicians are partners in the center.

Connecticut

National Surgical Hospitals purchased an ownership interest in The Fairfield (Conn.) Surgery Center, a 7,000-square-foot facility developed by the Orthopedic Specialty Group.

Florida

Florida International University and Miami Children's Hospital partnered to open a pediatric outpatient surgery facility on the FIU campus in Miami.

Orlando (Fla.) Health invested $1.4 million in Orlando Health/USP Surgery Centers LLC. Orlando Health/USP Surgery Centers then acquired a 51 percent interest in University Surgical Center in Winter Park, Fla. Orlando Health partners with United Surgical Partners International in ownership of the surgery center.

 Illinois

Massac Memorial Hospital and the Orthopedic Institute of Western Kentucky partnered to open a $6 million orthopedic and podiatric surgery center in Metropolis, Ill.

Local physicians partnered with the Northwest Community Healthcare Day Surgery Center on a joint venture to provide outpatient surgery on the NCH campus in Arlington Heights, Ill. The facility has more than 30 investors.

Kansas

Great Bend, Kan.-based Centura Health and Hays Medical Center (HaysMed) signed a letter of intent to co-own St. Rose Ambulatory & Surgery Center. While both organizations are working to expand the physician staff of the center, the staff will be both employed and managed by HaysMed. The center’s administrator will be selected by the St. Rose Health Center Board, and the board itself will include equal representation from both hospitals.

Maryland

A group of physicians in partnership with SurgCenter Development opened Monocacy Surgery Center in Frederick, Md. The surgery center offers services such as orthopedics, hand surgery, podiatry, ENT, neurosurgery and pain management.

The University of Maryland Shore Regional Health and University of Maryland Medical System opened the $7 million Surgery Center at Queenstown (Md.) in December 2014. The project broke ground in July 2014. The center will host gastroenterology, general surgery, orthopedics, pain management and urology procedures.

Michigan

Brookside Surgery Center in Battle Creek, Mich., affiliated with Meridian Surgical Partners, partnered with Bronson Battle Creek, a subsidiary of Bronson Healthcare. This was the first hospital partnership for Meridian Surgical Partners.

New Hampshire

Frisbie Memorial Hospital in Rochester, N.H., broke ground on a 16,000-square-foot surgery center. The new facility, Skyhaven Surgery Center, will house four operating rooms. Frisbie Memorial will share ownership with a group of physicians. The hospital expects the surgery center to begin performing cases in October.

New Jersey

United Surgical Partners International acquired a 55 percent interest in Somerset Ambulatory Surgery Center in Somerville, N.J.

New York

Frontier Healthcare Holdings and Brookhaven Gastroenterology Associates partnered to open a GI-driven ambulatory surgery center in Suffolk County, N.Y. Great South Bay Endoscopy Center is owned by five physicians of Brookhaven Gastroenterology Associates and Frontier Healthcare. Ravi Singh, MD, serves as its medical director.

North Carolina

After navigating the certificate of need process and hospital opposition, Physicians Endoscopy and five gastroenterologists moved forward with opening the Greater Gaston Center in Gastonia, N.C. The GI-driven ambulatory surgery center will have two endoscopy rooms. The center is a joint venture between Physicians Endoscopy and four gastroenterologists: Sam Drake, MD, Nelson Forbes, MD, William Watkins, MD, and Austin Osemeka, MD.

Ohio

SurgCenter Development and a group of unnamed physicians plan to develop an ambulatory surgery center in Athens, Ohio.

Oregon

Regent Surgical Health opened the joint venture Plaza Ambulatory Surgery Center in Portland, Ore. The surgery center is a joint venture between Regent Surgical Health, local physicians and Providence Health & Services. Regent will also provided management services for the center.

South Dakota

Mercy Medical Center Sioux City and United Surgical Partners International partnered to acquire a majority interest in Siouxland Surgery Center in Dakota Dunes (S.D.).

Texas

Texas Health Resources, based in Dallas, and Spine Team Texas will open a joint venture ASC on Texas Health Resources' Presbyterian Rockwall campus. The ASC's 21,000-square-foot building will include 12,000 square feet of rentable medical office space. The project will be completed June.

https://www.beckersasc.com/asc-transactions-and-valuation-issues/glendale-adventist-opens-joint-venture.html

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Webinars

Featured Whitepapers

Featured Podcast