The Maine Department of Health and Human Services approved Nashville, Tenn.-based Covenant Surgical Partners' proposal to establish a new entity, which would take ownership of Lewiston, Maine-based Wolf Eye Associates and its ASC.
Here's what you should know:
1. Covenant filed a certificate of need to establish Central Maine Eye Surgery Center and purchase Wolf Eye Associates from the current owner, Kenneth Wolf, MD. Dr. Wolf will retire from the practice after the acquisition closes.
2. After the transaction, Covenant will own 51 percent of the ophthalmology practice, John Londsdale, MD, will hold 25 percent and Marc Daniels, MD, will own 24 percent equity.
3. The transaction also involves the acquisition of surgical equipment from St. Mary's Medical Center in Lewiston, Maine.
4. Covenant will also purchase the practices of Drs. Lonsdale and Daniels. They will continue serving their existing patients, as well as Dr. Wolf's patients.