Tennessee hospital seeks permission to buy remaining surgery center ownership stake for $1.9M

Cookeville (Tenn.) Regional Medical Center is seeking board approval to purchase a full ownership stake in Upper Cumberland Physicians Surgery Center in Cookeville.

The hospital has owned 50 percent of the surgery center since it opened in 2004, according to hospital spokesperson Melahn Finley.

CRMC is seeking approval from the CRMC board of trustees to buy out the other stakes in the surgery center. The center is jointly owned by CRMC, local physicians and Addison, Texas-based United Surgical Partners International.

The health system would pay $1.9 million to purchase the remaining stakes.

Ms. Finley said the hospital is pursuing the transaction because it's within its strategic plan to grow its surgery market share.

Upper Cumberland Physicians Surgery Center has two operating rooms and three treatment rooms. Center physicians perform gastroenterology, orthopedic, ophthalmology, pain management, general surgery and urology procedures, among others.

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