Issue link: https://beckershealthcare.uberflip.com/i/1467576
86 TRANSACTIONS IRA Capital gets $80.7M for ASC real estate acquisitions By Marcus Robertson P rivate equity firm IRA Capital landed $80.7 million in financing from First Citizens Bank for ASC prop- erty acquisitions in Florida and Louisiana. A three-story surgical hospital in Naples, Fla., accounted for $49.2 million of the total, according to a Feb. 16 news release. The property is 86,287 rentable square feet, and it is leased to Naples Community Hospital and Physicians Regional Medical Center. The remaining $31.5 million funded a portion of IRA Capi- tal's acquisition of the 83,631-rentable-square-foot Chris- tus Central Louisiana Surgical Hospital in Alexandria. "We are excited to add these two best-in-class surgical facilities backed by top-tier health systems to our growing healthcare real estate portfolio," IRA Capital principal and co-founder Amer Kasm said in the news release. The financing was provided by CIT, which was folded into a division of First Citizens Bank after a merger in January. n A healthcare trend priming ASCs for growth By Patsy Newitt T he "shopping era" of healthcare and new price transparency requirements give patients more power than ever, a pairing that could leave ASCs poised for growth. "COVID-19 absolutely affected patient choice when it comes to surgeries on the elective side of the spectrum," Andre Blom, CEO of Des Plaines-based Illinois Bone & Joint Institute, told Becker's. "We need to all pay attention to how and why patients are partnering with these deci- sions. Network options will have to be designed in a man- ner that encapsulates all the needs of the patient — inclu- sive of financial awareness." Since last year, hospitals have been required to post prices negotiated with private payers online. CMS also is requir- ing payers and health plans to disclose in-network provid- er rates by July 1. While ASCs and physician practices have been required to provide cost estimates for self-pay patients since Jan. 1, the requirement to post cost estimates to patients who don't pay out of pocket requirements have yet to fall on ASCs. Regardless of price transparency requirements, ASCs are often the lower-cost setting for surgeries, and their cost data and strong quality metrics speak for themselves. With more power in patients' hands, ASCs stand to win. "Patients are now healthcare consumers, and improving the patient experience and expanding how healthcare is delivered are top priorities," Gavriel Meron, chairman and CEO of HyGIeaCare, told Becker's. n Cardiologists sell New York medical office building for $11.5M By Patsy Newitt A medical office building in Saratoga Springs, N.Y., was sold to an investor for $11.5 million, the Al- bany Business Review reported March 3. The building, which houses Saratoga Cardiology Associ- ates, was sold to an investor associated with Medcraft In- vestment Partners. The building was sold by two LLCs associated with cardi- ologists Roland Phillips, MD, and David Kandath, MD, who work at Saratoga Cardiology. n Ochsner LSU Health snaps up physician group By Alan Condon S hreveport, La.-based Ochsner LSU Health has signed an agreement to acquire Regional Urol- ogy, an eight-physician group, ABC affiliate KTBS3 reported March 8. Regional Urology's providers will continue services at ex- isting locations, including a surgery center, cancer treat- ment facility and three clinics. Joining Ochsner LSU Health will provide the group with additional resources and integration opportunities through technology, quality initiatives, human resources, supply chain and research, according to the report. For the health system, the partnership translates to greater access to care in the communities it serves and an oppor- tunity to strengthen medical education. "For more than 20 years we have served patients in this re- gion with high-level specialty care, and we're excited to be partnering with a company that embraces the same prin- ciples in advanced care, innovation and research while providing our patients with access to more and different medical specialties," said Kevin Cline, MD, a Regional Urol- ogy board member. n