Cullman (Ala.) Regional Medical Center will take over the day-to-day management of The Surgery Center of Cullman after acquiring majority ownership of the center, the Cullman Times reports.
Here's what you should know:
1. The surgery center's physician owners will become employees of Cullman Regional as a result of the deal, but will continue to see patients out of the center.
2. The surgery center's physicians perform 5,118 procedures annually.
3. Cullman Regional will invest in new technology for the center, and make several clinical quality integration and management changes as a result of the acquisition.
4. Neither side disclosed financial terms of the agreement.
Cullman Regional CEO James Clements said, "We look forward to collaborating with our physician partners in order to capitalize on the strategic benefits of this joint venture. This is simply another way Cullman Regional can meet the consumer’s growing demand for high-quality, convenient and cost-efficient outpatient care."