Northwell Health's North Shore University Hospital seeks to acquire ASC — 5 insights

Northwell Lynbrook ASC Ventures, whose sole member is Manhasset, N.Y.-based North Shore University Hospital, submitted a certificate of need application to buy an ASC in Lynbrook, N.Y., Crain's Health Pulse reports.

Here are five insights.

1. The center would be renamed Lynbrook Surgery Center and hand surgeon Bennett Brown, MD, would serve as medical director.

2. North Shore University Hospital is owned by Great Neck, N.Y.-based Northwell Health, which acquired Merrick, N.Y.-based Orlin & Cohen Orthopedic Group in 2017. The orthopedics practice has an office in the same building as the Lynbrook ASC.

3. Northwell plans to open a $19 million, multispecialty medical practice in Lynbrook this June. Seven surgeons at the practice will perform general, vascular urological gynecological procedures.

4. The ASC would allow Northwell surgeons from both Orlin & Cohen and the practice opening in June to perform procedures they can't do in their offices.

5. The ASC's current owner is South Shore University Ambulatory Center. South Shore will submit a closure plan to the Health Department. Lynbrook is taking over the existing lease, and will buy certain assets and liabilities for an undisclosed price.

More articles on transactions/valuation:
4 new joint venture ASCs and partnerships — April/May 2018
Envision ponders sale & more — 9 ASC company key notes
US Virgin Islands company gets $5M in funding for St. Croix ASC: 6 key points

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