Five recent joint-venture ASC deals:
1. Global commercial real estate group Newark facilitated the sale of the building housing Cypress Surgery Center in Wichita, Kan. DeSanto Realty Group sold the property for $15.3 million to Montecito Medical Real Estate. It is fully leased to a joint venture between national healthcare service company Surgery Partners and a group of 137 local physicians on a long-term basis.
2. Richmond, Va.-based VCU Health is planning an outpatient facility as part of an upcoming mixed-use development in Chesterfield, Va. The mixed-use development project is a joint venture between Dunphy Properties and Shuler Properties. In addition to the ASC, the development plans include commercial space, residential units and a hotel.
3. Boca Raton-based Florida Atlantic University’s Research Park was acquired for $37.5 million. A joint venture between real estate firms Pebb Enterprises and Banyan Development purchased the 308,305-square-foot office portfolio, the report said. The park comprises seven buildings that house tenants including Baptist Health Surgery Center.
4. Hudson (Wis.) Physicians, a 48-physician multispecialty group, on May 24 broke ground on a $10 million outpatient facility in New Richmond, Wis. The 20,000-square-foot facility is a joint venture with Hudson-based Associated Eye Care, a 16-physician practice with seven locations across Wisconsin and Minnesota, according to its website. Both groups have ownership in the facility.
5. Private equity-backed practice management company Orthopedic Care Partners is buying an ownership stake in value-based care company ValueHealth’s ASC in The Villages, Fla. OCP is investing in the ASC through Gainesville, Fla.-based member practice the Orthopaedic Institute. OCP comprises practices including the Steadman Clinic in Vail, Colo., Creve Coeur, Mo.-based Motion Orthopaedics and Tucson (Ariz.) Orthopaedic Institute.
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.