Becker's has reported on five joint-venture ASC deals in May, including one partially owned by ValueHealth and Orthopedic Care Partners.
Five recent joint-venture ASC deals:
1. Global commercial real estate group Newark facilitated the sale of the building housing Cypress Surgery Center in Wichita, Kan. DeSanto Realty Group sold the property for $15.3 million to Montecito Medical Real Estate. It is fully leased to a joint venture between national healthcare service company Surgery Partners and a group of 137 local physicians on a long-term basis.
2. Richmond, Va.-based VCU Health is planning an outpatient facility as part of an upcoming mixed-use development in Chesterfield, Va. The mixed-use development project is a joint venture between Dunphy Properties and Shuler Properties. In addition to the ASC, the development plans include commercial space, residential units and a hotel.
3. Boca Raton-based Florida Atlantic University's Research Park was acquired for $37.5 million. A joint venture between real estate firms Pebb Enterprises and Banyan Development purchased the 308,305-square-foot office portfolio, the report said. The park comprises seven buildings that house tenants including Baptist Health Surgery Center.
4. Hudson (Wis.) Physicians, a 48-physician multispecialty group, on May 24 broke ground on a $10 million outpatient facility in New Richmond, Wis. The 20,000-square-foot facility is a joint venture with Hudson-based Associated Eye Care, a 16-physician practice with seven locations across Wisconsin and Minnesota, according to its website. Both groups have ownership in the facility.
5. Private equity-backed practice management company Orthopedic Care Partners is buying an ownership stake in value-based care company ValueHealth's ASC in The Villages, Fla. OCP is investing in the ASC through Gainesville, Fla.-based member practice the Orthopaedic Institute. OCP comprises practices including the Steadman Clinic in Vail, Colo., Creve Coeur, Mo.-based Motion Orthopaedics and Tucson (Ariz.) Orthopaedic Institute.