After ending partnership, West Cancer Center purchases Methodist Le Bonheur campus with surgery center — 6 insights

Germantown, Tenn.-based West Cancer Center purchased a building previously owned by Memphis, Tenn.-based Methodist Le Bonheur which includes a surgery center after the groups ended their operating partnership, Memphis Business Journal reports.

What you should know:

1. West Cancer Center and Methodist operated as partners beginning in December 2013. Methodist first acquired and renovated a medical office building in Germantown. The partnership opened the space in November 2015, which West Cancer Center eventually made into its primary campus.

2. The two companies ended their partnership Feb. 22, and West purchased the Germantown medical office building for $51 million, according to a deed.

3. West also had to repurchase all its equipment from Methodist and apply for the onsite ASC to be under its license.

4. West Chief of Staff Kurt Tauer, MD, said, "When we went into [partnership] with Methodist, they purchased all of our assets, and we had to purchase them all [back]."

5. As a result of the separation, Methodist will develop the Methodist Cancer Institute with Memphis-based University of Tennessee Health Science Center.

6. A Methodist Le Bonheur Healthcare spokesperson said, "Methodist Le Bonheur Healthcare is well positioned to create a new Methodist Cancer Institute in partnership with UTHSC that will elevate education, research and clinical services to provide exceptional cancer care."

More articles on transactions/valuation:

Legislator introduces bill to allow nurse practitioners full practice authority in California — 5 insights
3 ways to prepare for an ASC management role
In-N-Out Burger's customer-focused philosophy: 5 things ASCs can learn

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers