Becker's ASC Review

57 TRANSACTIONS Physician partnership sells endoscopy center to PE group in $5.7M deal By Patsy Newitt A private equity group purchased a medi- cal office building housing the Kingwood (Texas) Endoscopy Center for $5.7 million, according to an August announcement from real estate brokerage firm HG Real Estate Partners. The building is 100 percent occupied — tenants in- clude GI practice Texas Digestive Disease Consul- tants, Minivasive Pain and Orthopedics and the King- wood Endoscopy Center. The building was sold by a physician partnership, ac- cording to HG Real Estate, which advised the sale. Kingwood Endoscopy Center, opened in 2020, is a single-specialty surgery center featuring two operat- ing rooms and four physicians. n 4,000-physician group in California to add more than 220 providers By Laura Dyrda T he largest independent physician association in California will add more than 200 mem- bers later this year, making it the largest in the U.S. Hill Physicians Medical Group, a San Ramon, Calif.- based organization with more than 4,000 primary care and specialty physicians, will add NorthBay Medical Group providers in October. NorthBay has more than 220 providers and is part of the Mayo Clinic Network. NorthBay Medical Group is part of NorthBay Healthcare, which has two acute care hospitals, an ASC and two urgent care centers. After the trans- action, Hill Physicians will double its presence in Solano County, and its members will have access to NorthBay physicians. Hill Physicians spans 11 California counties and partners with health plans and hospitals for patient care. n PE-backed company affiliates with 3-ASC practice By Alan Condon P artnerCare, a portfolio company of private equity firm Shore Capital Partners, has affiliated with MidSouth Pain Treatment Center, which serves more than 3,000 patients a month at its locations in Tennessee and Mississippi. Founded in 2000 by pain management specialist Michael Steuer, MD, MidSouth has grown to include three ASCs, five clinics and more than 100 employees. Dr. Steuer said in a Sept. 14 news release that the partnership will "accelerate our growth trajectory of high-quality patient care across Tennessee and Mississippi." Earlier in September, PartnerCare — a Tampa-based provider of interventional pain management and musculoskeletal services — also added Miramar-based Florida Spine & Pain Center. PartnerCare said it aims to continue to expand across the region by providing operational, financial and technology sup- port to affiliated practices. n Gastro Health boosts Florida presence with 2 acquisitions By Alan Condon M iami-based Gastro Health is expanding its presence to 19 locations in Central Florida after it acquired New Smyrna Beach-based Gastro Center of Florida and Mid Florida Gastroenterology Consultants in Ocoee. The Sept. 1 acquisitions ups Gastro Health's portfolio in the region to 15 gastrointestinal offices with 18 physicians and 10 advanced practice providers. "The population in the Greater Orlando area continues to see rapid growth, which means greater access to healthcare should follow suit," Gastro Health CEO Joseph Garcia said in a Sept. 1 news release. "By bringing together more gastroenterology providers and treatment options to the community, we look forward to serving patients with our GI partners in this grow- ing region and welcome these new practitioners to the Gastro Health family." Gastro Health is the second-largest gastrointestinal physician practice management platform in the country, employing more than 250 physicians at 100-plus locations in Alabama, Florida, Maryland, Ohio, Virginia and Washington. Gastro Health also owns and operates endoscopy centers in five of the six states. n

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