Illinois eye ASC plans ownership change pursuant to merger: 4 insights

Eye Surgery Center in Swansea, Ill., is planning a change in ownership, state documents show.

Four things to know:

1. Billiken Buyer plans to purchase "substantially all of the outstanding membership interests" from OH Holding, which currently has nearly 100 percent indirect ownership in Eye Surgery Center.

2. The transaction is pursuant to a merger. It would make Billiken Buyer the ASC's parent entity, with Eye Surgery Center LLC remaining the ASC's operating entity.

3. While OH Holding is the surgery center's majority interest holder, ECP ASC Holdings, Clarkson Eyecare and Eyecare Partners each have at least 5 percent interest.

4. Eye Surgery Center's application for change of ownership exemption is pending approval from the Illinois Health Facilities and Services Review Board.

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