Uniondale, N.Y.-based Health Plus Ortho Management is looking to acquire a majority stake in Danbury, Conn.-based Orthopaedic Specialty Surgery Center, according to a July 29 report from Hartford Business Journal.
The Connecticut Office of Health Strategy will conduct a public hearing July 30, in which the management group hopes to acquire an additional 17.7% in ownership interest.
If approved, Health Plus' stake in the facility will increase to 57.7%. The cost to acquire the additional stake will be approximately $7.26 million.
Currently, 19 physicians at the ASC own a combined 60% majority stake. No physician owner would sell all of his or her interest in the surgical center if the transaction goes through.
The ASC has served patients in the area since 2019. If the deal is approved, the center will continue to offer the same services and serve the same patient population, and all existing fees, price structure, payer enrollments/contracts and patient costs will be unaffected, according to the report.