St. Dominic signed a letter of intent to purchase then-closed Madison Ambulatory Surgery Center in Canton, Miss., for $800,000. St. Dominic sought a certificate of need to reopen the ASC, but MASC’s owner put the facility back on the market 57 days after the letter was signed, ultimately selling it to Naples, Fla.-based Health Management Associates.
A Madison County court ruled the letter of intent was nonbinding, allowing MASC to seek new buyers after the 30-day window expired. St. Dominic appealed the decision, arguing the letter was a form of a contract.
More Articles on Hospitals and ASCs:
6 Proposed Legislative Changes Impacting Surgery Centers & Clinics
Medical Facilities Corporation Reports Higher Revenue After Arkansas Surgical Hospital Acquisition
Want to Sell Your ASC/MOB Real Estate? Here is How to Maximize Your Property’s Value
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
