Here are three things to know about the current market for de novo ASCs, according to HealthCare Appraisers' 2010 ASC Valuation Survey, which includes responses from 17 organizations representing over 500 surgery centers throughout the country.
ASC Transactions & Valuation Issues
Chris Suscha is vice president of de novo business development for Meridian Surgical Partners.Q: Are you seeing any new trends in the ASC market?
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.
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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.