Mission Health sells Asheville Surgery Center property for $14.7M after 2016 purchase from physicians: 5 things to know

Asheville, N.C.-based Mission Health purchased the property of Asheville Surgery Center in 2016 from physician owners and recently sold the property to investors, according to a report from Citizen Times.

 

Here are five things to know:

1. Mission sold the property to Asheville 5 Medical Properties for $14.7 million, but will remain tenants of the center.

2. Mission CFO Paul McDowell said the transaction will allow providers to continue delivering outpatient surgical care at the center, and the health system plans to use funds from the sale "for other important uses," according to the report.

3. Physicians had previously owned the property but decided to sell in 2016 for $14.5 million and Mission had the first right of refusal; Mission had previously rented the property for use.

4. As a nonprofit health system, Mission has tax exempt status; however, the property was eligible for tax assessments due to the sale, which Mr. McDowell said would add "tax and cash benefit to the local government."

5. Initially opened in 2000, the surgery center was a joint venture between 50 surgeons and Mission St. Joseph's.

More articles on surgery centers:
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