The Urology Group sells headquarters, surgery center property for $16.6M

Cincinnati-based The Urology Group sold the property housing its headquarters and surgery center for $16.6 million, the Cincinnati Business Courier reports.

Here's what you should know:

1. Urology Group Real Estate Holding sold the 4.1-acre land to Southern Ohio MOB Partners of Minneapolis Dec. 14. The property is located in Norwood, Ohio.

2. It's unclear what the sale could mean for the physician group. The Cincinnati Business Courier was unable to reach The Urology Group CEO Earl Walz for comment.

3. The Urology Group's 17,800-square-foot outpatient surgery center is part of a 55,000-square-foot, three-structure complex with a total market value of more than $19 million.

4. Cincinnati-based TriHealth, which owns a 15 percent stake in the surgery center, wasn't involved in The Urology Group's property sale.

5. The Urology Group comprises 39 local physicians, 80 full-time equivalents and 11 locations, making it the region's 11th largest physician practice.

More articles on transactions/valuation:
Joint venture Methodist North Surgery Center closing in January: 3 things to know
Community Health Systems sells Mary Black Health System, outpatient services to South Carolina hospital — 3 insights
Excelsior Orthopaedics buys Sterling Medical Park office building from GI — 3 insights

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months