Becker's ASC Review

77 ORTHOPEDICS Laser Spine Institute 18 months after closure — What happened to its $56M Tampa HQ? By Alan Condon F ourteen years aer opening, Tampa- based Laser Spine Institute shuttered in March 2019 following a series of financial blows and lawsuits that led to its eventual demise. But before its downfall, the company had achieved significant success. ree physicians — James St. Louis, MD, Glenn Hamburg, MD, and Michael Perry, MD — started Laser Spine Institute with nine employees and one operating room in 2005, according to Tampa Bay Times. At the height of its operations, the practice grew to more than 1,000 employees and had surgery centers in Tampa, St. Louis, Cincin- nati and Scottsdale, Ariz. In 2016, it opened a $56 million 176,000-square-foot headquarters in Tampa. e following year saw the practice report $220 million in revenue, up from $216.9 mil- lion the prior year. Despite impressive revenue growth, Laser Spine Institute was in the middle of several large lawsuits. e most significant case, dating back to 2006, was brought by a competing spine center and accused Laser Spine Institute of breach of fiduciary duty, defamation, tortious interference and violation of a Florida law, among other charges. In 2018, a federal court ordered Laser Spine Institute to pay $264 million in damages to the complainant. A string of surgery center closures and a reduced operating cost struc- ture sparked the beginning of the practice's downfall. In March 2019, aer the banks froze Laser Spine Institute's accounts and stripped them of cash, the practice closed its Tampa head- quarters and its remaining locations, laying off 354 employees in the process. In February 2020, real estate investment company Highwoods Properties leased three of the six floors of the Tampa headquarters. While the surgery center still remains vacant in the building, sports retailer Fanatics Brands has leased 92,000 square feet of the 176,000-square foot space. n California orthopedic surgeon performs robotic-assisted knee replacement in ASC By Eric Oliver L os Angeles-based Southern California Orthopedic Institute surgeon Jaime Hernandez, MD, recently performed what's believed to be the first CORI robotic-assisted total knee replacement in an ASC, The Signal reports. What you should know: 1. Dr. Hernandez began using surgical robots about a year ago. 2. He used the Smith+Nephew CORI robot in this total knee replacement. The robot assists the surgeon dur- ing the procedure to ensure accurate implant placement. 3. This was the first instance the CORI robot was used in an ASC. 4. Dr. Hernandez believes robotic- assisted joint replacements will be commonplace in the future. n Nebraska hospital acquires Strasburger Orthopaedics By Alan Condon S yracuse (Neb.) Area Health has acquired Strasburger Orthopaedics in Lincoln, according to a Sept. 8 news release. The acquisition brings the ser- vices of Scott Strasburger, MD, to the hospital. Dr. Strasburger is an orthopedic surgeon with more than 18 years of experi- ence. Dr. Strasburger is a regen- erative and sports medicine specialist who is also trained in Smith+Nephew's Navio robot for knee replacements. The practice has rebranded as Syracuse Area Health- Strasburger Orthopaedics and added an athletic trainer to the team. n 25-physician orthopedic practice opens 5th Wisconsin clinic; ASC coming in November By Alan Condon G reen Bay, Wis.-based Ortho- pedic and Sports Medicine Specialists opened a clinic in Neenah. The 60,000-square-foot center also features a surgery center that will open in November. The physician-owned group partnered with Ascension Wisconsin on the sur- gery center, which will be called The Orthopedic Surgery Center of the Fox Valley. About 35 jobs will be added, including nurses, physician assistants and surgi- cal techs. The practice currently has 25 physi- cians, according to its website. n

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