13 Recent Key Notes on ASC Management & Development Companies

Here are 13 recent news updates from ambulatory surgery center management and development companies.

AmSurg broke ground on a new 110,000-square-foot building in Burton Hills, Ill., that will serve as the company's offices of operations. The building is expected to reach completion in 2014.

AmSurg has reported $269.3 million in revenue for the second quarter of 2013, a 17 percent increase. The company also added five centers in the second quarter under a letter of intent.

Oklahoma City, Okla.-based Graymark Healthcare has acquired Foundation Surgery Affiliates and Foundation Surgical Hospital Affiliates. With the transaction, Graymark has acquired all of the member interests of both Foundation Surgery Affiliates and Foundation Surgical Hospital Affiliates. Foundation Surgery Affiliates owned non-controlling equity interests in 11 surgery centers in seven states.

Meridian Surgical Partners has chosen Medline to serve as its primary partner for medical and surgical supplies. The three-year agreement is expected to generate around $9 million in sales through Medline.

Merritt Healthcare has completed a majority ownership sale of Diagnostic Endoscopy Center in Stamford, Conn., to AmSurg. The Connecticut Department of Health approved the transaction in April.

Pamlico Capital, based in Charlotte, N.C., has made a significant investment in Physicians Endoscopy. The investment will help Physicians Endoscopy grow its 29 centers and expand its product offerings to gastroenterologists.

At the end of August, Physicians Endoscopy and a group of five gastroenterologists received a certificate of need for the construction of the Island Digestive Health Center in West Islip, N.Y.

Regent Surgical Health named Don Phalen as vice president of business development. Mr. Phalen has more than 20 years of experience in the healthcare industry, most recently serving as a regional sales manager for RedMEd.

Regent Surgical Health has helped fund the opening of the Hospital Universitaire de Mirebalais in Haiti. Surgery centers and physician partners of Regent Surgical Health contributed funds and equipment for the hospital.

In June, SurgCenter Development named Stacey Berner, MD, as its president. Dr. Berner joined SurgCenter Development in 2012 as principal.

Surgical Care Affiliates filed for an initial public offering of up to $100 million in stock. According to its filing, the company intends to use the proceeds of the offering toward redeeming all $150 million in 10 percent senior subordinated notes due July 15, 2017. Remaining proceeds would go to corporate purposes.

In June, Surgical Care Affiliates acquired Health Inventures, a national surgical and physician services company operating more than 20 ambulatory surgery centers in partnership with 10 health system partners nationwide.

United Surgical Partners International has reported $155.2 million in net revenue for the second quarter of 2013, a 20 percent increase. During the second quarter, USPI acquired a facility in Houston in partnership with Memorial Hermann Healthcare System.

More Articles on ASC Issues:
22 Observations on ASCs for 2014
Ambulatory Surgery Centers Projected to Save Medicare $57.6B Over Next 10 Years
Bundled Payments & Cost Efficiency in Surgery Centers: Q&A With Gabrielle White of Hoag Orthopedic Institute

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