Timeline of 41 ASC industry transactions in 2018

Here are 41 ASC acquisitions and partnerships announced so far this year:

JANUARY

Medical Facilities Corp. formed a joint venture with Leawood, Kan.-based NueHealth and acquired seven ASCs from Meridian Surgical Partners for $46.5 million.

Medford, Mass.-based Hallmark Health System announced plans for an ASC at its Lawrence Memorial Hospital campus in Medford, through a partnership with local physician groups.

Cullman (Ala.) Regional Medical Center took over the day-to-day management of The Surgery Center of Cullman after acquiring majority ownership of the center

Addison, Texas-based United Surgical Partners International, a subsidiary of Dallas-based Tenet Healthcare, partnered with New York City-based Hospital for Special Surgery to open an ASC in West Palm Beach, Fla.

Austin, Texas-based Epiphany Dermatology acquired Frisco (Texas) Dermatology Laser & Surgery Center to expand its presence in the Dallas/Fort Worth metroplex.

Oak Brook, Ill.-based Inland Real Estate Acquisitions purchased the Edward-Elmhurst (Ill.) Health Center. The center, located at a 13,000-square-foot medical office building, features physicians with specialties in internal medicine, family medicine, obstetrics/gynecology and gastroenterology. The property has 10 exam rooms, one surgical procedure room, four preoperative and postoperative recovery rooms and one endoscopy suite.

Birmingham, Ala.-based Surgical Care Affiliates, an Optum company, made an equity investment in a Portland, Ore.-based ASC through a partnership with Renton, Wash.-based Providence Health & Services.

Parole, Md.-based Chesapeake Eye Care Co. established One Vision Eye Partners, a medical and surgical ophthalmology division in the Mid-Atlantic U.S, and immediately acquired Arlington (Va.) Eye Center.

Oak Brook, Ill. -based Inland Real Estate Acquisitions acquired a 29,702-square-foot medical office building in Salt Lake City that houses Eye Institute of Utah as well as SurgiCare Center of Utah.

FEBRUARY

Philadelphia-based Jefferson Health, Philadelphia-based Rothman Institute, NueHealth and several Philadelphia physicians formed a joint venture to open the $17 million, 22,000-square-foot Jefferson Surgery Center in Cherry Hill (N.J.).

Eighteen local physicians, Providence-based Oregon Region and SCA will break ground on an ASC in April in Portland, Ore.

Roslyn, N.Y.-based St. Francis Hospital of Catholic Health Services of Long Island partnered with Westchester, Ill.-based Regent Surgical Health and 34 physician partners to develop East Hills (N.Y.) Surgery Center.

Hurst, Texas-based Cook Children's Northeast Hospital will close as a hospital April 20, and become an ASC soon thereafter. Cook Children's, NueHealth and physician investors will open the ASC.

Little Rock, Ark.-based Pain Treatment Centers of America purchased Little Rock-based Arkansas Surgery & Endoscopy Center for $3.4 million.

MARCH

Milwaukee-based Froedtert Hospital & the Medical College of Wisconsin opened a health center with a surgery center in Oak Creek, Wis.

Chicago-based Pinnacle Dermatology acquired Barrington, Ill.-based Van Dam Dermatology and Laser Center.

LLR Partners formed Eye Health America — an ophthalmology practice management services organization — and acquired Bradenton, Fla.-based The Eye Associates, Clemson (S.C.) Eye and Greenville, S.C.-based Piedmont Surgery Center.

Montecito Medical Real Estate acquired Norfolk-based Virginia Eye Consultants' medical office building and ASC.

Raleigh, N.C.-based Compass Surgical Partners and a group of physicians sold a majority stake of Clearwater, Fla.-based Safety Harbor Surgical Center to United Surgical Partners International.

APRIL

One Vision Eye Partners of Annapolis (Md.) acquired Hagerstown-based Maryland Vision Institute.

Casper-based Wyoming Medical Center struck a deal to acquire Mountain View Regional Hospital, a surgical-only surgery center.

Annapolis, Md.-based Anne Arundel Medical Center and Surgical Care Affiliates are partnering to open two outpatient surgery centers in early 2019.
 
Cincinnati-based TriHealth acquired a 15 percent ownership stake in Urology Group's outpatient surgery center, also in Cincinnati.

Stuart (Fla.) Surgery Center opened. The center was developed by Compass Surgical Partners and Stuart-based Martin Health.

Several Longmont, Colo.-based physicians partnered to build the Advanced Vision Surgery Center in Longmont.

MAY

Bozeman (Mont.) Health and United Surgical Partners International partnered to build a $20 million ASC in West Bozeman, Mont.

United Surgical Partners International acquired ownership stakes in Jacksonville, Fla.-based Borland Groover's Jacksonville Center for Endoscopy in Southside, Fla., and Jacksonville Center for Endoscopy in Riverside, Fla.

Regent Surgical Health partnered with 14 physicians to open a joint venture surgery center, Oregon Surgical Institute, in Beaverton.

Charlotte Hungerford Hospital in Torrington, Conn., is attempting to acquire a majority interest in The Endoscopy Center of Northwest Connecticut, also in Torrington.

NueHealth partnered with Rothman Institute, Jefferson Health and 14 multispecialty physicians to acquire the Plymouth Meeting, Pa.-based Blue Bell Surgery Center.

Northwell Lynbrook ASC Ventures, whose sole member is Manhasset, N.Y.-based North Shore University Hospital, submitted a certificate of need application to buy an ASC in Lynbrook, N.Y.

JUNE

New Lenox, Ill.-based Silver Cross Hospital opened a freestanding ASC in New Lenox through a joint venture with independent physicians and United Surgical Partners International.

Milwaukee-based Aurora Health Care sold ownership in two joint venture ASCs for around $7 million.

JULY

Westbury, N.Y.-based Ophthalmic Consultants of Long Island is expanding its footprint by partnering with Huntington (N.Y.) Eye Care.

Columbus-based The Ohio State University wants Powell, Ohio, to annex 30 acres of land on which the university is attempting to build a 200,000-square-foot outpatient campus. The land is currently held by Golf Village North. The developer offered the land to OSU for $8 million.

Cleveland-based Woodside Health bought a medical and professional office campus in Glendale, Ariz. Woodside Health bought the 70,652-square-foot Arrowhead Professional Center from YAM Properties for $16.5 million.

Murfreesboro (Tenn.) Surgical Specialists joined Nashville, Tenn.-based Saint Thomas Medical Partners. Nashville-based Saint Thomas Health absorbed the physician group.

Yale New Haven (Conn.) Health is investing $160 million to help Greenwich (Conn.) Hospital expand its clinical and ambulatory presence in Fairfield and Westchester counties in Connecticut. Greenwich Hospital will add several physicians and construct new ambulatory sites in Westchester and Fairfield counties with the investment. The investment builds on a 20-year partnership between Greenwich and Yale New Haven.

Winston-Salem, N.C.-based Skin Surgery Center sold its 18,300-square-foot medical office building to Vest Mill I for $6.6 million.

OSF Healthcare, Peoria (Ill.) Surgical Group and Illinois Gastroenterology Institute are attempting to sell their 97,997-square-foot medical office building in Peoria. The groups tapped Avison Young to sell the building.

Little Rock (Ark.) Diagnostic Clinic is considering selling to Little Rock-based CHI St. Vincent Medical Group following the June split of seven LRDC gastroenterologists.

More articles on transactions and valuation:
Kaiser outpatient center evacuated after truck hits oxygen tanker — 4 insights
Allegheny Health Network opens $8M outpatient center near rival UPMC — 4 insights
2 new joint venture ASCs — June/July 2018

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