The Oregon Health Authority has approved a material change transaction that will transfer ownership of five ASCs in the state from Envision Healthcare to its ASC-focused subsidiary AmSurg.
Envision filed for bankruptcy in May, later announcing plans to separate from AmSurg, which has taken ownership of the struggling company's ASC portfolio.
All of Envison's ASCs will be part of AmSurg and will no longer have any affiliation with Envision. Pacific Investment Management Co., a creditor, will be AmSurg's new majority owner.
During the review, OHA assessed the cost, access, quality and equity impact of the transaction. It found that since no consolidation is occurring, costs will not be affected. It also determined that since the ASCs are not relocating, there will be no impact to access, quality or equity.
OHA approved the transaction on Oct. 30, according to an executive summary published by the agency. It will continue to monitor the transaction, following up at one, two and five years after the deal is completed.
During the reviews, it will analyze impact on quality of care, access to care, affordability and health equity, specifically following up on concerns or observations.