Here are four things to know:
1. Aurora had entered into the joint ventures with Froedtert & the Medical College of Wisconsin more than five years ago. The health system held 50 percent ownership in Menomonee Falls Ambulatory Surgery Center, which was created in 2011 through a partnership with Froedtert Community Memorial Hospital, as well as 20 percent ownership in Froedtert Surgery Center, created in 2004 with Froedtert Memorial Lutheran Hospital and the Medical College of Wisconsin.
2. The health system sold its 50 percent ownership in Menomonee Falls Ambulatory Surgery Center for $5 million cash considerations and 20 percent ownership in Froedtert Surgery center for $2 million cash considerations to Froedtert & the Medical College of Wisconsin Community Memorial Hospital.
3. As of Dec. 31, 2018, Aurora’s carrying value in the two ASCs totaled $5.8 million. The health system reported a 5 percent decrease in operating income for the first quarter of 2018, when the sales occurred.
4. On April 1, Aurora finalized its merger with Advocate Health Care, a Downers Grove, Ill.-based health system. The two systems now combine for nearly $3 billion in first-quarter revenue.
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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.