Renton, Wash.-based Providence Health & Services purchased four vacant buildings which used to be Walla Walla (Wash.) General Hospital, the Walla Walla Union-Bulletin reports.
ASC Transactions & Valuation Issues
Pharos Capital Group acquired Lafayette, Ind.-based Horizon Oncology and concurrently launched its own venture, Verdi Oncology.
Riverside (Calif.) University Health System broke ground on a medical office building featuring an outpatient surgery center in Moreno Valley, Calif., Commercial Property Executive reports.
Lawrence (Kan.) Memorial Hospital is preparing to break ground on a nearly $100 million outpatient facility, LJWorld.com reports.
Montecito Medical Real Estate acquired Norfolk, Va.-based Virginia Eye Consultants' medical office building and ASC.
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While the acquisition market for outpatient businesses, such as ASCs and surgical hospitals, remains strong, buyers are laser focused on quality of earnings which limits opportunities for some facilities to realize higher valuations.
As one of the largest private joint venture surgery center operators, Regent Surgical Health manages a portfolio of 23 ASCs, 18 hospital joint ventures and nine total joint replacement centers in the U.S. and Europe.
LLR Partners formed Eye Health America — an ophthalmology practice management services organization — and acquired two ophthalmology practices and an ASC.
Headquartered in Brentwood, Tenn., Surgery Partners is a leading operator of surgical and ancillary services. It touts a portfolio of 124 surgical facilities in the U.S., including 106 ASCs and 18 surgical hospitals across 32 states.
ASC surgical volume grew in 46 of the 50 largest markets, while at the same time hospitals lost share of the outpatient procedures, according to a report from Franklin Trust Ratings outlining the top 50 largest U.S. markets. The overall…