Stillwater (Okla.) Medical Center will expand the Stillwater Surgery Center after purchasing a 50 percent stake in the corporation that owns the center, the Stillwater News Press reports.
Here's what you should know:
1. The hospital purchased a 50 percent interest in Bushwood LLC, which is owned by several orthopedic surgeons. Bushwood owns the Stillwater Surgery Center, where SMC leased space.
2. The stake purchase and surgery center expansion will cost SMC about $6.29 million. The medical center will partially own the ASC.
3. The expansion details weren't specified, but SMC has previously explored ways to address its need for more operating rooms and endoscopy suites. The surgery center expansion could be a potential solution.
4. Hospital Trustee Dan Duncan called the expansion a stepping stone. If the center is successful, SMC could consider an additional capital investment in the area.