Surgery Partners is refinancing $119 million of incremental term loans raised last April during the first surge of COVID-19, the company revealed April 20. The company also released preliminary first-quarter revenue and case volume projections.
ASC Transactions & Valuation Issues
Despite the challenges of the COVID-19 pandemic, Optum broke into 2021 strong with increased revenue in the first quarter compared to the same time last year.
Higher acuity cases and more value-based contracts helped drive Optum's first quarter revenue growth.
Fairfax-based Virginia Surgery Associates became part of Inova April 13, according to the Washington Business Journal.
The pandemic accelerated the migration of surgical procedures to the outpatient setting, and many hospital executives are expanding their outpatient strategies. But that doesn't mean they're eager to buy ASCs.
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Meridian has sold a 57,573-square-foot medical office building with an ASC in Laguna Hills, Calif.
Physician noncompete clauses are common, and getting out of them is a challenge, according to a report from Medscape.
Bon Secours acquired a Richmond, Va.-based orthopedic practice with 13 physicians, according to a report from the Richmond Times-Dispatch.
Greenway Health, a health information technology services provider, announced two new partnerships with Tucson (Ariz.) Gastroenterology and Midland (Texas) Cardiac Clinic to help the practices improve revenue cycle management.
Independent surgery centers experienced revenue loss last year when elective surgeries were limited due to COVID-19, but many ramped cases back up and aim to stay independent if possible.