Physician-owned ASC sells for $23.8M — 4 details

Surgical Center of Greensboro (N.C.) was sold for $23.8 million, the Triad Business Journal reports.

Four things to know:

1. Formerly owned by seven limited liability corporations, the ASC was purchased by an LLC whose address is listed as care of Montecito Medical Real Estate of Corona, Calif. Montecito's portfolio of medical office properties in 20 states includes an OrthoCarolina facility in Charlotte, N.C., as well as EmergeOrtho's portfolio in Wilmington, N.C.

2. Led by managing member John Byers, MD, Green Valley Surgical Holdings was the largest of the sellers with more than 40 percent ownership. Dr. Byers is listed as Surgical Center of Greensboro's medical director.

3. Several of the other sellers were linked to Surgical Center of Greensboro's property developer, Deep River Partners.

4. The physician-owned, Surgical Care Affiliates-partnered ASC was developed in 2017 for a cost of between $23 million and $25 million. At two stories tall, it occupies 60,000 square feet.

More articles on surgery centers:
3 ASC developments worth over $10M
7 critical steps for financial success in your ASC
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