The Illinois Health Facilities and Services Review Board has approved the sale of two Chicago-area hospitals owned by Resurrection Health Care to for-profit Vanguard Health Systems, according to a report by the Chicago Tribune.
ASC Transactions & Valuation Issues
Access to capital, one of the greatest challenges for an ASC, has become more difficult with the recent meltdown of the banking industry. Having a good banking relationship is very important, but banks have become more jittery about lending money…
Standard & Poor's has upgraded $19.96 million long-term, fixed-rate bonds from Carolina Medical Center-Union in Monroe, N.C., to A+ with a stable outlook, according to a report in the Charlotte Business Journal.
Fitch Ratings has assigned an AA- rating with outlook stable to McLeod Regional Medical Center in Florence, S.C., for a total of $127 million in new bonds, according to a release from Fitch.
Rockwood Clinic in Spokane, Wash., will merge its surgery center into Deaconess Medical Center, also located in Spokane, according to Rockwood Clinic and a report in The Spokesman-Review.
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Upstate University Hospital in Syracuse, N.Y., is in discussions with Harrison Outpatient Surgery Center in downtown Syracuse for a possible takeover, according to The Post-Standard.
Arizona Heart Institute, a physician-owned cardiology group based in Phoenix, signed a letter of intent to merge with Nashville, Tenn.-based Vanguard Health Systems, which operates the five-hospital Abrazo Health Care System in the region.
The president of Upper Allegheny Health System, the parent company of Olean (N.Y.) General Hospital and Bradford (Pa.) Regional Medical Center, said Olean General plans to break ground on a $10.3 million surgery center in the fall, according to a…
An affiliation between Lenox Hill Hospital will not only bring North Shore Long Island Jewish Health System into Manhattan, but will also expand the system's reach in Queens, according to a report in The Queens Courier.
The Kaweah Delta Local Healthcare board of directors approved the plans for a 50,000 square-foot medical complex, which will include a surgery center and medical offices, in Visalia, Calif., according to a report in The Valley Voice.