The hospital, which currently holds a majority stake in the ambulatory surgery center, plans to integrate the ASC into the hospital.
A group of surgeons holds a minority stake in the surgery center, which is operating as a freestanding facility.
The ASC performs about 10,000 surgeries annually, more than the 8,700 annually performed by St. Mary’s, according to the report.
Read the Hartford Business Journal report about the acquisition of Naugatuck Valley Surgical Center.
Related Articles on ASC Acquisitions:
CA Acquisition of Colorado Venture to Result in Ownership of 13 More Surgery Centers
Surgery Center Transactions and Valuation: Thoughts From VMG Health’s Kevin McDonough
10 Questions About Selling a Surgery Center
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.