Praxsyn signed a letter of intent to purchase a Florida-based surgery center.
Five key details:
1. Praxsyn plans to acquire Amelia Island Outpatient Surgery Center in Fernandina Beach, Fla.
2. The 9,000-square-foot ASC is part of a larger 29,000 square foot building, which Praxsyn will purchase. The remaining space will be used for medical offices.
3. The building's appraised value is $8 million.
4. A portion of the acquisition cost of the ASC will likely be syndicated to physicians working at the center to reduce acquisition debt. Praxsyn intends to remain the majority owner.
5. At its peak, the center could generate $7.5 million in gross revenue, and there is room for expansion.