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.
ASC Transactions & Valuation Issues
Whittier, Calif.-based PIH Health has acquired cardiovascular care group Los Angeles Cardiology Associates.
Many ASC leaders feel that physician-owned practices are in danger of conflicting priorities with private equity investment.
A new study showed that many total knee arthroplasty procedures shifted to the outpatient setting after CMS removed procedures from its inpatient-only list in January 2018, implying market and financial pressures are encouraging more outpatient care delivery.
Raleigh (N.C.) Orthopaedic Surgery Center's outpatient total joint program grew by 40 percent in 2020, with the center completing 348 total joint procedures. The center is expected to exceed last year's total in 2021.
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Medical office space fared much better than conventional offices during the COVID-19 pandemic as patients aimed to stay away from crowded hospitals, the Los Angeles Business Journal reports.
Charlotte, N.C.-based Metrolina Nephrology Associates is building a 68,000-square-foot medical center with an ASC.
A physician's partnership in El Paso, Texas, sold an orthopedic-focused medical real estate portfolio with an ASC to a medical real estate investment trust for $9.5 million.
Scottsdale, Ariz.-based Healthcare Trust of America purchased Durham. N.C.-based Duke Medical Plaza for more than $16 million, Triangle Business Journal reported March 29.
Multiple principals of Towson, Md.-based SurgCenter Development were lead investors in biologics company Mesoblast's private placement of $110 million in early March.