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36 JOINT VENTURES 10 things to know about Regent Surgical Health By Angie Stewart W estchester, Ill.-based Regent Sur- gical Health manages a portfolio of 23 ASCs, 18 hospital joint ven- tures and nine total joint replacement centers in the U.S. and Europe. Here are 10 things to know. 1. W. Michael Karnes and omas Mallon founded Regent in 2001. Regent treated 675,000 patients by the end of 2017, working toward its goal of treating 1 million patients by 2021. 2. Chris Bishop became CEO in 2016, suc- ceeding Mr. Mallon, who remains board chairman. Mr. Bishop previously served as Regent's president. Prior to joining Regent, he was partner and senior vice president at Nashville, Tenn.-based Blue Chip Surgery Center Partners and vice president of acquisi- tions and business development of Hanover, Mass.-based Ambulatory Surgical Centers of America. 3. Regent currently has 23 ASCs, three of which opened in 2017: Mt. Pleasant (Mich.) Surgery Center, e Surgery Center of Wasilla (Alaska), and East Hills (N.Y.) Surgery Center, a partnership with Roslyn, N.Y.-based St. Francis Hospital of Catholic Health Services of Long Island and 34 physi- cian partners. 4. Regent has two facilities in Ireland and one in Roatan, Honduras. 5. Regent launched a bundled payment strat- egy in 2017, working with physicians' groups in Nevada and Oregon to syndicate its first two bundled payment entities. 6. Case volumes were down in 2017, which Regent attributed to debate over Obamacare repeal and the growth of high-deductible insurance plans. ere was volume constric- tion of 2 percent to 3 percent, down from the historical 2 percent to 4 percent surgical volume growth. "Due to uncertainty in the healthcare market, this year's industrywide case volumes were very challenged," Mr. Bishop said. "e good news is, our growth strategy worked, and Regent will far exceed the industry average." 7. e number of total joint replacement pro- cedures performed in Regent's ASCs in 2017 was nearly double the number performed in 2016. Regent expects that number to increase again in 2018. 8. Regent made numerous leadership changes in fall 2017. In November, omas Crossen was named chief development officer, and Jay Colehour assumed responsibility for growing Regent's health system and ASC joint ven- tures portfolio as vice president of business development. Bob Ryan, who joined Regent in 2016, was named COO in October 2017. 9. Director of Spine Services James Lynch, MD, launched Regent's program to help physicians develop spine-focused centers. He is president, founder and CEO of Reno-based SpineNevada, as well as chairman and direc- tor of spine at the Surgical Center of Reno. 10. Regent transitioned to an employee stock ownership plan in December 2016. "e owners and investors of Regent consid- ered various strategic financial alternatives as we evaluated the proper ownership transi- tion of the business including the sale of the company to a strategic or financial buyer. We ultimately chose to sell the business to the employees — our true partners — so they can directly participate as owners in the future financial benefits of executing our successful business model," Mr. Mallon said at the time. n Joint venture Stuart Surgery Center opened in Florida — 5 insights By Eric Oliver S tuart, Fla.-based Martin Health System, Compass Surgical Partners and a group of physician investors opened the Stuart Surgery Center in April 2018. Here's what you should know. 1. The outpatient facility offers gastroenterology services. 2. The center aims to achieve Accreditation Association for Ambulatory Health Care-accreditation. 3. This is the second center Martin Health System and Compass Surgical Partners have jointly developed. They also opened Port St. Lucie, Fla.-based Tradition Surgery Center. 4. Martin Health System gastroenterologist Ben Ngo, MD, said, "Our group of gastroenterologists are excited to utilize the new GI center in Stuart. It will allow us to perform procedures in a more efficient setting, which in turn will lower the cost of care for our patients." 5. Compass Surgical Partners will manage the new center. n "Due to uncertainty in the healthcare market, this year's industrywide case volumes were very challenged. The good news is, our growth strategy worked, and Regent will far exceed the industry average." - Chris Bishop, Regent CEO