Cottage Health System and Sansum Clinic, both based in Santa Barbara, Calif., are planning to merge. Cottage Health is looking to sell its Santa Barbara Outpatient Surgery Center to allay the FTC's monopoly concerns, according to a Pacific Coast Business Times report.
Here are five things to know about the potential sale of the surgery center.
1. Cottage Health engaged Cain Brothers & Co., a New York-based investment banking firm, to help find a buyer for the surgery center, according to the report.
2. United Surgical Partners International is the center's potential buyer.
3. USPI will need to first appraise the center before reaching an agreement with Cottage Health.
4. The process could take up to five months. Once an agreement is met, a proposal will need to be sent to the FTC, according to the report.
5. If the Cottage Health and Sansum Clinic merger is approved, it will bring together three hospitals and 23 ambulatory sites, according to the report.