Four things to know:
1. The Surgery Center of Columbia County opened in 1994 and struggled with patient volume throughout its existence. University Hospital has lost money on the 18,500-square-foot center since 2014.
2. University Hospital will sell its share to Augusta (Ga.) University Medical Center, which already has a stake in the center and also owns one-third of a surgery center at University Hospital’s campus in Evans, Ohio.
3. The ASC was built for $4.5 million and in December the ownership parties agreed to value the center at around $4 million. University Hospital sold its 42 shares and 25 physician-held shares to Augusta University Medical Center.
4. The two sides expect to close the sale before June, with each share purchased valued at around $33,000; the entire transaction is expected to exceed $2 million.
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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.