US Virgin Islands company gets $5M in funding for St. Croix ASC: 6 key points

Liberty Medical Development, a company based in the U.S. Virgin Islands, secured funding for an ASC on St. Croix, according to The St. John Source.


Here are six things to know.

1. The company obtained $5 million in funding, with more than $1.25 million already invested.

2. The ASC is expected to include orthopedics, general surgery, cardiology, oral surgery, dentistry and OB-GYN.

3. When finished, the new ASC will employ at least 14 full-time individuals and plans to contract with local vendors.

4. Brian Bacot, MD, of Comprehensive Orthopedics is leading the project, which will include seven other physician owners.

5. The ASC will have 21,000 square feet of space within the existing Innovative Building, with a build-out and structural alternations planned.

6. Physician owners expect the ASC's construction to take eight months and accommodate the site's current occupants, the U.S. Army Corps of Engineers and Federal Emergency Management Agency, which have used the site as hurricane recovery operations since October 2017.

More articles on surgery centers:
Surgery Partners increased revenues 45.8% in Q1—8 insights
Nearly 50% of ASCs opened since 2009 shut down: 3 ways to boost case volume, avoid being next
ASC case mix: 14 statistics on Medicare vs. commercial payers

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