“It was a state-of-the-art facility very close to our offices in Englewood and Teaneck [N.J.], and it was being underutilized, so it was a natural fit for us to take both a leadership and ownership role,” said CMD Logistics Director Isaac Abramchayev, who led the acquisition.
CMD, an orthopedic and pain management practice, expects that taking majority ownership will help it boost efficiency, improve patient satisfaction and adapt as procedures migrate to outpatient settings.
In its four-plus years of operation, Bergenfield Surgical Center has expanded to include three spine surgeons, two orthopedic surgeons, a hand surgeon and a podiatrist.
CMD surgeons have already performed multiple lower extremity surgeries and several spinal procedures at the ASC.
More articles on transactions/valuation:
CHI Franciscan to divest ASC, pay $2.5M to settle anticompetitive lawsuit: 5 things to know
Surgery Partners reports $417M in revenue & more — 10 ASC industry notes
As investors favor ASCs & offices, major skilled nursing operator splits segments
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