3 reasons ASCs are closing

Here are three reasons ASCs have closed recently:

1. Management company bankruptcy 

Asheville, N.C.-based GenesisCare Surgical Specialists will close after its private equity-backed management company GenesisCare filed for bankruptcy. Patients will receive letters from GenesisCare dated Sept. 18 informing them the practice will close Oct. 20. KKR-backed GenesisCare filed for bankruptcy in Texas Southern Bankruptcy Court on June 1.

2. Low patient volume

In February, the Salem (Ore.) Outpatient Surgery Center closed its doors in response to low patient volumes, putting future plans on hold, according to a news release from the health system. Months later, the building remains shuttered. Salem Health purchased land for the ASC in 2016 for $6.5 million, starting construction on the 42,000-square-foot center in 2020. 

3. Leadership deaths, departures

The Belmont Eye Clinic in Liberty Township, Ohio, closed after operating for more than 50 years. Due to the death of its former physician Sherif Hanna, MD, and the departure of James Cover, OD, and Julianne Matthews, MD, the practice did not have a provider as of Aug. 1. In a letter to patients, Belmont Eye Clinic said patient records could be collected at the office until Aug. 31.

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