Medical Facilities Corp. sells stake in ASC to physicians

Toronto-based Medical Facilities Corp. announced plans to sell its interest in Two Rivers Surgical Center in Eugene, (Ore.) to two of the managing physicians, according to an Oct. 1 press release.

Medical Facilities Corp. acquired interest in the ASC through a joint venture with NueHealth in 2018, the statement said.

"The sale of our interest in Two Rivers Surgical Center allows us to focus our attention and capital on our current strategic initiatives," Robert Horrar, president and CEO of Medical Facilities said in a statement. "The overall direction of this ASC had changed considerably since our initial investment, and we believe our focus should be directed at other growth opportunities we see in the ASC space, including the de novo ASC development like the recently opened St. Luke's Surgery."

Numbers on the transaction weren't immediately available.

Read the full statement from Medical Facilities Corp. here.

More articles on surgery centers:
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How Tenet, HCA Healthcare and Surgery Partners' shares performed this week
2 systems considering ASC closures & more — 10 ASC industry notes

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