Penn State joint venture acquires majority stake in ASC

A Penn State Health joint venture acquired a majority stake in the Surgery Center of Lancaster (Pa.), according to an Oct. 27 report in Lancaster Online.

The Sept. 30 transaction gave the Hershey-based health system and its joint-venture partner, Leawood, Kan.-based ValueHealth, a 60 percent stake in the ASC. Financial details were not disclosed.

The more than 17,000-square-foot ASC employs 56 staff and is used by 26 surgeons, according to the report.

The ASC was established in 2005. It sits on a 2.6-acre plot of land, which was not included in the transaction. It is the joint venture's first project, according to the report.

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