ASC Transactions & Valuation Issues

The Virginia health commissioner has denied applications for three proposed surgery centers in Isle of Wight County, Va., according to a report in The Virginian-Pilot.

The Mayfield Clinic in Cincinnati has announced its spine surgery center has partnered with United Surgical Partners International and The Christ Hospital to expand services and capacity.

Community Hospital of Long Beach (Calif.) will explore a merger with Long Beach Memorial Medical Center, according to a report by the Gazettes Town-News.

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.

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.

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.