Issue link: https://beckershealthcare.uberflip.com/i/1521114
49 TRANSACTIONS Rite Aid shuttering 200+ locations: What ASCs need to know By Patsy Newitt R ite Aid will shutter 53 more locations aer it filed for Chapter 11 bankruptcy and announced it will close locations, according to April bankruptcy court filings obtained by Becker's. "In connection with the court-supervised process, we notified the court of certain underperforming stores we are closing to further reduce rent expense and strengthen overall financial performance," the spokesperson told Becker's. "At this time, we have not made or confirmed any decisions on additional specific store closures as part of our financial restructuring process." Here is what ASCs need to know about the closures: 1. In October, Camp Hill, Pa.-based Rite Aid said it will close 154 stores in more than 10 states to save on rent costs. 2. e October filings said 40 of the planned closures were Pennsylvania locations, and many stores in California and New York will also close as the company aims to shed about $4 billion in debt. 3. e company filed for Chapter 11 bankruptcy protection in October and reported it secured $3.45 billion from lenders to fund operations throughout the bankruptcy process. 3. e April filings revealed plans to shutter locations in Pennsylvania, New Jersey, New York, Ohio, California, Massachusetts, Michigan, Virginia and Maryland. 4. Rite Aid declined to comment on the number of stores closing; it currently has approximately 1,700 locations across 16 states. n TriasMD acquires Thousand Oaks Surgery Center By Carly Behm T riasMD, parent company of Newport Beach, Calif.- based DISC Sports & Spine Center, acquired Thousand Oaks (Calif.) Surgery Center. The ASC will be renamed DISC Surgery Center at Thousand Oaks, according to a March 21 news release. The ASC's leader, Alexander Hershel, MD, will work with TriasMD to enhance spine and orthopedic services. TriasMD also plans to bring in more orthopedic and spine surgeons and invest in new technology. Terms of the deal were not disclosed. n Saint Alphonsus acquires ASC from closing medical group By Claire Wallace B oise, Idaho-based Saint Alphonsus will acquire Saltzer Health's ASC and two urgent care centers as the provider shutters its operations in the area, according to an April 1 report from CBS affiliate Idaho News. Nampa, Idaho-based Saltzer Health announced plans to sell or shut down in January, citing financial and economic challenges. Several different area health providers will purchase or operate other Saltzer facilities. The ASC will operate uninterrupted as Saint Alphonsus takes it over. n 12K-square-foot Michigan medical office building sells By Claire Wallace A n 11,892-square-foot medical office building in Flint, Mich., has sold, according to an April 15 report from REJournals. The seller and cost of the facility have not been disclosed. The building is located within an existing office complex in the area. It was purchased by Flint-based Mid-Michigan Home and Health Hospice, which will occupy and operate its practice in the facility. n