Kenneth N. Hancock is the president and chief development officer of Meridian Surgical Partners, which specializes in the acquisition, development and management of ambulatory surgery centers. He has more than 25 years of experience in the healthcare industry developing ASCs and surgical hospitals, as well as recruiting and building relationships with physicians.
Mr. Hancock previously served as executive vice president, chief development officer and co-founder of Surgical Alliance Corp, a specialty surgical hospital company founded in 2001. Before that venture, Mr. Hancock was a co-founder of OrthoLink Physicians, which focused on the development and management of orthopedic surgery centers and specialty hospitals. The company was later acquired by United Surgical Partners International.
At the 10th Annual Orthopedic, Spine and Pain Management-Driven ASC Conference in Chicago on June 15, 2012, Mr. Hancock offered his expertise on how healthcare professionals can develop a spine-driven ASC, which includes a deep understanding of the financial commitments.
Building off the partnership structures, Mr. Hancock said equity is huge with spine-driven ASCs, and it is a good idea to raise 100 percent of the working capital. “You can’t raise enough cash,” Mr. Hancock said. “You can always distribute capital back that you don’t need. Strong operations and a growth plan are critical to success for growing capital.”
He also recommended interested parties obtain a commitment for financing from other physicians and partners before starting the project, as an inordinate amount of debt could doom the ASC.
