Augusta University Medical Center buys remaining ASC shares for $2M+ from University Hospital, physicians: 4 details

Written by Laura Dyrda | April 26, 2019 | Print  |

Augusta, Ga.-based University Hospital plans to sell its stake in an Evans, Ga.-based ASC to an academic medical center, according to the Augusta Chronicle.

 

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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