The Arizona Board of Regents will decide this week whether or not to approve Phoenix-based Banner Health's proposed acquisition of the Tucson-based University of Arizona Health Network, according to an azcentral report.
As a part of the acquisition agreement Banner Health spend $500 million renovate the UA Medical Center and build and outpatient clinic and ambulatory surgery center.
Banner Health has already a significant footprint in the state's ASC market. Last year, the health system acquired Union Hills Surgery Center in Glendale, Ariz., and an ASC on Thunderbird Medical campus in Glendale, Ariz. This spring, Banner Health invested $2.3 million to open the recently acquired Canyon Springs Surgery Center in Gilbert, Ariz. All of the ASCs have since been renamed to reflect the Banner name.
In addition to building a new ASC, Banner Health would also pay of UA Health's debt of $146 million and establish a $300 million academic enhancement fund.
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As a part of the acquisition agreement Banner Health spend $500 million renovate the UA Medical Center and build and outpatient clinic and ambulatory surgery center.
Banner Health has already a significant footprint in the state's ASC market. Last year, the health system acquired Union Hills Surgery Center in Glendale, Ariz., and an ASC on Thunderbird Medical campus in Glendale, Ariz. This spring, Banner Health invested $2.3 million to open the recently acquired Canyon Springs Surgery Center in Gilbert, Ariz. All of the ASCs have since been renamed to reflect the Banner name.
In addition to building a new ASC, Banner Health would also pay of UA Health's debt of $146 million and establish a $300 million academic enhancement fund.
More Articles on Transactions and Valuation Issues:
Huntsville Endoscopy Center Files CON for Expansion Project
14 ASC Industry Acquisition Agreements in 2014
How to Increase the Value of Your ASC