Issue link: https://beckershealthcare.uberflip.com/i/1479222
94 TRANSACTIONS The Orthopaedic Institute buys stake in ValueHealth ASC in Florida By Marcus Robertson P rivate equity-backed practice management company Orthopedic Care Partners is buying an ownership stake in value-based care company ValueHealth's ASC in e Villages, Fla. OCP is investing in the ASC through Gainesville, Fla.-based member practice the Orthopaedic Institute, the company said May 24. OCP comprises practices including the Steadman Clinic in Vail, Colo., Creve Coeur, Mo.-based Motion Orthopaedics and Tucson (Ariz.) Orthopaedic Institute. e 28,000-square-foot ASC will occupy the second floor of the Center for Advanced Healthcare at Brownwood (Fla.). It is being developed as a joint venture between ValueHealth, the Orthopaedic Institute and physician partners from e Villages Health. It will house four operating rooms and four procedure rooms, with room for future expansion. It will offer services in gastroenterology, pain management, gynecology, urology and orthopedics. e center will perform total joint replacements guided by Muve, ValueHealth's hyperspecialty orthopedic program. e ASC will join ValueHealth's national Ambulatory Centers of Excellence network with an advanced certification in total joint replacement. e center will work with the neighboring Brownwood Hotel & Spa to offer recovery-focused suites. e ASC is expected to be complete by the end of 2022 and open to patients beginning in 2023. With the expansion and investment, OCP member the Orthopaedic Institute is also adding a medical office building lease in Brownwood. n Physician group sells Chicago endoscopy center property for $15M By Marcus Robertson A physician group sold the property housing the Naperville, Ill.-based Suburban Gastroenterology and Midwest Endoscopy Center for $15 million, the Chicago Business Journal reported Aug. 15. The sale comes two years after the 19,000-square-foot center was renovated, the report said. It is fully occupied by two tenants with lease agreements running through to 2030. The center was built in 2008. The center is said to be the only freestanding, state- licensed endoscopy center in DuPage and Will counties. n USPI, United Urology Group ink 22-ASC joint venture deal By Paige Haeffele U nited Surgical Partners International and United Urology Group signed an official agreement to form a joint venture partnership in 22 ASCs on June 21. Dallas-based USPI will acquire a portion of Owings Mills, Md.-based United Urology Group's ownership interests in its established and new ASCs in Maryland, Colorado and Arizona, adding more than 140 urologists to USPI's urology service network. The transaction is expected to close in the third quarter. Once completed, USPI will manage and jointly own the centers with United Urology Group and its affiliated practices. "The partnership will add high-quality urology centers within our existing markets. We are honored to serve additional patients and support the growth of these ASCs," said Brett Brodnax, president and CEO of USPI, which is a subsidiary of Dallas-based Tenet Healthcare. The centers will be included in Tenet Healthcare's financial statements. n New Jersey medical office building with SCA Health ASC sold By Riz Hatton A medical office building with a SCA Health affiliated ASC in Hackettstown, N.J., has been sold, roi-nj.com reported Aug. 11. In addition to the ASC, the 65,658-square-foot building, Patriot Plaza, houses seven other tenets. The property is anchored by Morristown, N.J.-based Atlantic Health System. Patriot Plaza was sold to Kayne Anderson Real Estate and Remedy Medical Properties. n