Tri-City Medical Center in Oceanside, Calif., is suing Citigroup for up to $20 million, claiming that the investment bank didn't warn the hospital about the risk of refinancing debt using variable-rate bonds, according to a report by the Mercury News.
ASC Transactions & Valuation Issues
There are 381 surgery center chains that own two or more ASCs in the current market. From 2000-2009, the percentage of ASCs owned by a multi-facility chain has increased from 23 percent to around 35 percent. Here are the total…
Here are statistics on the number of independent community hospitals compared to community hospitals that are part of a larger hospital system from 1999-2008, according to the American Hospital Association's Annual Survey of Hospitals. The data show a slight decrease…
Steven Maier, MD, a surgeon in Jamestown, N.D., pledged $100,000 to name a new surgery center at the New Jamestown Regional Medical Center, according to a report in The Jamestown Sun.
After several years of relative quiet on the hospital merger & acquisition front, 2010 may be the year things turn around, say those on the front lines. Jim Shannon, executive vice president of development for LHP Hospital Group, a privately…
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Here is a list of common valuation multiple ranges paid for a controlling interest in an ASC, with percentages of ASCs that were able to negotiate the range from 2006-2008, according to HealthCare Appraisers' Healthcare Transactions 2009 Year in Review.
Lenox Hill Hospital in New York City has been awarded a $9.4 million grant to set up an urgent care facility to treat some patients displaced by the closing of St. Vincent's Medical Center, according to a report in The…
The Detroit City Council voted 7-1 to approve a Renaissance Zone permit for Detroit Medical Center, exempting the hospital and buyer Vanguard Health Systems from most city, county and state taxes for 12 years, according to a report in the…
Jon Vick, President of ASCs Inc.: ASC values have been steady in a narrow range for the last 16 months, and we see them staying about where they are now for the foreseeable future. The ASC market remains very competitive;…
The average number of cases per surgery center in 2008 was 3,695, according to SDI Health. Here are the percentage of surgery centers by their 2008 annual cases.