Medical Facilities Corp. completes acquisition of 7 ASCs through joint venture

Medical Facilities Corp. completed its acquisition of seven ASCs for $46.5 million through its joint venture with Leawood, Kan.-based NueHealth.

Here's what you should know:

1. The joint venture is 94.25 percent owned by MFC, with the purchase funded primarily by cash and by drawing on MFC's credit facility.

2. The joint venture acquired interests in:

  • Brookside Surgery Center in Battle Creek, Mich.
  • Central Arkansas Surgical Center in Russellville
  • City Place Surgery Center in Creve Coeur, Mo.
  • Eastwind Surgical in Westerville, Ohio
  • Miracle Hills Surgery Center in Omaha, Neb.
  • Riverview Ambulatory Surgical Center in Kingston, Penn.
  • Two Rivers Surgery Center in Eugene, Ore.

3. The joint venture has 53 percent equity interest in the centers.

4. Through the agreement, NueHealth will provide day-to-day management and operational support to the centers.

More articles on transactions/valuations: 
CMS to terminate Medicare benefits of Lags Surgery Center Oxnard — 6 insights
Dr. Eric Neff completes 1st TKR at Surgery Center of Chesapeake — 6 things to know
In CON tussle, Georgia county commission opposes Erlanger's claims, for now — 6 insights

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Top 40 Articles from the Past 6 Months