Physicians from The Albany (N.Y.) & Saratoga Center for Pain Management and New York Pain Management in Clifton Park have received preliminary state approval to build a $1 million pain-focused ASC, the Northway Surgery and Pain Center, to be located in Clifton Park, according to a report from the Times Union.
The owners expect to perform 8,000 procedures in the first year and 10,000 procedures in the next at the 9,420-square-foot center, with a respective $3 million and $4 million in resulting profits, according to plans filed with the state.
The center's owners will be Martin Ferrillo, DO, and Edward Apicella, MD, of The Albany & Saratoga Center for Pain Management; and Charles Gordon, MD, and Quentin Phung, MD, of New York Pain Management. Heritage Ambulatory Surgery Center, a separate four-physician ASC, would provide consulting and administrative services, according to the report.
While the new ASC received opposition from Albany-based St. Peter's Hospital on the grounds that it would lose $1 million in referrals and other surgeries should the ASC be opened, the state determined the hospital would lose little, as none of the physician owners perform procedures with the hospital.
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The owners expect to perform 8,000 procedures in the first year and 10,000 procedures in the next at the 9,420-square-foot center, with a respective $3 million and $4 million in resulting profits, according to plans filed with the state.
The center's owners will be Martin Ferrillo, DO, and Edward Apicella, MD, of The Albany & Saratoga Center for Pain Management; and Charles Gordon, MD, and Quentin Phung, MD, of New York Pain Management. Heritage Ambulatory Surgery Center, a separate four-physician ASC, would provide consulting and administrative services, according to the report.
While the new ASC received opposition from Albany-based St. Peter's Hospital on the grounds that it would lose $1 million in referrals and other surgeries should the ASC be opened, the state determined the hospital would lose little, as none of the physician owners perform procedures with the hospital.
More Articles on Transaction and Valuation:
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14 ASC Industry Transactions in 2014 So Far