Issue link: https://beckershealthcare.uberflip.com/i/835905
19 JOINT VENTURES 13 Hospitals, Health Systems Opening or Planning ASCs By Eric Oliver H ere are 13 hospitals and health systems that have opened or an- nounced plans for ASCs from the beginning to the end of the month. Phoenix-based e CORE Institute and Banner Health expanded their partnership to open e Orthopedic & Spine Institute on the Banner – University Medical Center Phoenix campus. Greenville (S.C.) Health System plans to open a surgery center in April. Lafayette, Ind.-based Unity Healthcare repurchased ownership of the Unity Surgical Center in Lafayette, Ind., from Indianapolis-based Franciscan Health. Charlotte, N.C.-based Novant Health and Winston Salem, N.C.- based Wake Forest Baptist Medical each filed certificate-of-need ap- plications for new facilities at their Clemmons and Davis campuses, respectively. Fairbanks (Alaska) Memorial Hospital celebrated its surgery center's opening with a ribbon cutting on March 9. New York City-based NYU Langone Medical Center submitted a certif- icate-of-need application to the state Department of Health for its ASC. West Park Hospital and Northern Wyoming Surgical Center, both based in Cody, Wyo., agreed on the hospital's ownership stake in the center. Abilene, Texas-based Hendrick Health System officials said they ex- pect to open a surgery center in Brownwood, Texas, in May. Milwaukee-based Aurora Health Care plans to construct a new ASC and medical office building in Greenfield, Wis. Lawrence (Mass.) General Hospital is putting the finishing touches on its $56 million surgery center, slated to open in April. n Surgery Partners Pays $760M for National Surgical Healthcare: 5 Things to Know By Laura Dyrda N ashville, Tenn.-based Surgery Partners ac- quired surgical facilities owner and operator Na- tional Surgical Healthcare from Irving Place Capital. Here are five things to know: 1. Surgery Partners purchased National Surgical Healthcare for around $760 million. Bain Capital Private Equity provid- ed part of the funding for the transaction in exchange for preferred security in the company. 2. Bain Capital Private Equity plans to acquire H.I.G. Capi- tal's existing equity stake in Surgery Partners in conjunction with the transaction. 3. Together, Surgery Partners and National Surgical Health care have a portfolio of 125 surgical facilities and 58 physi- cian practices along with complementary ancillary servic- es. They will operate facilities in 32 states with a network of more than 5,000 physicians. "This transaction strengthens our market position and will provide new opportunities to introduce ancillary services to our expanded network of surgical facilities," said Sur- gery Partners CEO Mike Doyle. "NSH and Surgery Partners share a commitment to high quality, cost effective health- care services. We are optimistic that this combination will promote physician recruitment and new service line ex- pansion while generating solid growth, and we expect this transaction to be accretive in 2018." 4. The combined company will have a strong presence in the musculoskeletal field, including orthopedics, pain and spine. 5. Both parties expect the transaction to close this year after receiving the required regulatory approvals. Jeffries LLC was the exclusive financial adviser for the transaction and Ropes & Gray LLP is serving as legal counsel. PwC is acting accounting advisor to Surgery Partners and Bain Capital Private Equity. Kirkland & Ellis is acting as counsel to Bain Capital Private Equity and J.P. Morgan Securities is the acting financial advisor to National Surgical Healthcare, with Weil, Gotshal & Manges as the legal advisor. n Call: 888.416.2409 info@eSutures.com eSutures.com We Stock It, So You Don't Have To! From sutures to endomechanicals, to implants and instruments, we have over 1 million items in stock and ready to fulfill your just-in- time ordering needs! *Offer expires 7/31/17. Limit 1 per customer. Contact Us Today to Start Saving!