Montecito Medical Real Estate purchased a pair of medical office buildings in Arkansas for $15.9 million from Hunter Haynes, a real estate developer, TB&P reports.
ASC Transactions & Valuation Issues
Five recent surgery center property acquisitions:
The stock market has been slowly recovering with notable gains to start off the week.
Here are eight updates on ASC companies and industry-relevant companies to note:
The medical office building housing Jefferson Blue Bell (Pa.) Surgery Center sold for $24.85 million, the Philadelphia Business Journal reports.
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Flagship Healthcare Properties acquired Charlotte (N.C.) Surgery Center-Museum Campus, the outpatient healthcare real estate firm announced April 2.
ASCs have been an attractive investment over the years because they can bring in consistent revenue and distributable cash flows on a reliable basis, according to VMG Health.
Due to the economic impact of the COVID-19 pandemic, Dallas-based Tenet Healthcare is updating its financial forecast for 2020 and making changes to surgery center services.
COVID-19 is battering Nashville, Tenn.-based Envision Healthcare as the company suffered declines at its 168 ASCs, according to an analysis by Bloomberg.
Share values temporarily recovered when the COVID-19 stimulus package was passed, but long-term recession fears are still driving down value in the volatile market.