ASC Transactions & Valuation Issues

Vanguard Health System has agreed to place $500 million of privately held stock in escrow to make sure it invests the capital in renovations to Detroit Medical Center's hospitals, according to a report in The Detroit News.

Texas Health Resources, the largest healthcare system in North Texas in terms of patients served, and LHP Hospital Group, have formed a joint venture to acquire 241-bed Wilson N. Jones Medical Center in Sherman, Texas, according to an LHP release.

Mountain View Hospital in Idaho Falls, Idaho, is partnering with Nashville, Tenn.-based Symbion Healthcare, according to a report by KPVI News Idaho Falls.

As capital markets begin to open up and healthcare reform starts to take shape, momentum for hospital acquisition activity is building, although the buyers and sellers may have different characteristics this time around.

Newton, Mass.-based HRPT Properties Trust of Massachusetts, a publicly traded real estate investment trust, has purchased Clear Creek Surgery Center in Wheat Ridge, Colo., for $4.45 million, according to a report in the Denver Business Journal.

Saint Joseph's Health System and Piedmont Healthcare, both based in Atlanta, have signed a letter of intent to enter exclusive negotiations to create a joint operating company that combine certain assets of both SJHS and PHC, including Saint Joseph’s Hospital…

Over the past few years, there has been a growing trends of ASCs being operated as HOPDs. As we move through 2010, this trend toward HOPD ASCs continues.

Anthony Mai is senior vice president of Sun Healthcare Finance, which offers a full financing solutions and related advisory services to companies across the healthcare industry, including ASCs.

Claudia Gourdon is senior vice president of New York-based Healthcare Finance Group, which specializes in senior debt financing.

Q: Has access to financing/capital improved over recent months for ASC start-ups or are groups still struggling? Kyle Goldammer: In our opinion, groups are still struggling with financing. Although financing is available, the down payment required for large projects has…