Five things to know:
1. The company will partner with physician investors to develop 15 surgery centers in Michigan by the end of 2020.
2. Hillcrest was founded in 2015 and currently manages one center, Charter Endoscopy Center in Flint, Mich. The company has plans for three additional centers in the works.
3. The company estimates development will cost around $14 million for each center and guarantee a return of investment between $20 million to $30 million per center, according to the report.
4. Michigan is a certificate-of-need state, which makes developing new ASCs challenging. However, Hillcrest owners report multiple physicians have committed to ASCs in planned CON applications.
5. Hillcrest, founded by Abe Baydoun and Ricardo Borrego, MD, are looking for centers to include spine, orthopedics, pain management and cardiovascular care.
More articles on surgery centers:
The strategy for 4 ASCs to recruit and retain a great staff
Ohio ASC performs 110 total joints in 2018 – 3 things to know
BioSpine to open Orlando-based ASC: 4 notes
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.