Paramount Surgery Center of Mesa (Ariz.) has been acquired by a joint venture between not-for-profit Scottsdale (Ariz.) Healthcare and Sovereign Healthcare, a privately held ASC management company based in Orange County, Calif., according to a news release.
SHC ASC, the joint-venture partnership between Scottsdale Healthcare and Sovereign, is now majority (51 percent) owner of the ASC.
"This venture illustrates our commitment to physician alignment not only in the hospitals, but in off-campus outpatient settings by creating partnerships for ownership and operations in the interest of achieving the highest quality care," said Scottsdale Healthcare President & CEO Tom Sadvary, according to the release.
Under the arrangement, Sovereign will manage Paramount Surgery Center, which will remain as an independent facility separate from Scottsdale Healthcare. No changes are expected to be made to the ASC's operations or staff.
Paramount Surgery Center has more than 17 physician partners and offers services in specialties including orthopedics, ENT, general surgery, urology and pain management.
Learn more about Scottsdale Healthcare.
Learn more about Sovereign Healthcare.
Read more about ASC acquisitions:
- Meridian Surgical Partners Acquires Missouri Surgery Center
- Foundation Surgery Affiliates Partners With Four ASCs
- ASCOA Acquires Interest in North Carolina ASC