Here are four things to know:
1. Shanghai Hongxiao made a $300 million investment in the ASC chain. The investment includes an initial payment and future earnouts. The centers are known for using da Vinci Robotic Surgical Systems in the outpatient setting.
2. Isaac Verbukh, MD, founded miVIP in 2006 and grew the company from a single location to six ASCs and more than 80 surgeons. The centers host a variety of procedures, such as ENT, gastroenterology, joint replacement, orthopedics, spine surgery, urology and pain management.
3. Aaron Capital served as the investment bank in the transaction, with Tong Liu, Robert Smith and Roman LeFranc working with Dr. Verbukh throughout the process. The group conducted preparatory activities, worldwide company marketing, due diligence and negotiations, ultimately choosing Hongxiao to become the company’s partner.
4. Hongxiao was an attractive partner for miVIP because it supports an aggressive expansion plan in the U.S. and worldwide.
More articles on surgery centers:
State-by-state breakdown of 2017’s 73 new or announced ASCs, outpatient centers
Surgery Partners brings on another Anthem exec as chief strategy and transformation officer, interim CFO: 5 things to know
AAAASF partners with Nebula Data Intel to improve patient safety—4 insights
