A private equity firm invested in a joint-venture ASC chain, and four joint venture ASCs were opened or announced since the last week of February.
Five joint venture ASC updates:
1. Raleigh, N.C.-based Compass Surgical Partners secured a minority investment by Health Velocity Capital, a private equity firm that focuses on healthcare services and software businesses.
The partnership aims to drive Compass' growth into new markets and benefit its joint-venture ASCs as the healthcare industry continues its shift away from hospitals toward the outpatient setting, the company said.
2. Dulles, Va.-based StoneSprings Hospital Center opened a $6.8 million, 18,630-square-foot orthopedic ASC in Sterling, Va. The ASC, Stone Springs Ambulatory Surgery Center, is a joint venture with 16 physician partners.
3. Nashville, Tenn.-based HCA Healthcare and Portsmouth, N.H.-based Atlantic Orthopaedics and Sports Medicine opened a joint venture ASC in Portsmouth. Eight physician partners at Atlantic Orthopaedics have partial ownership in the ASC, which is affiliated with Portsmouth Regional Hospital.
4. Phoenix-based OrthoArizona cut the ribbon on its Pima Center in Scottsdale, Ariz. The practice partnered with Phoenix-based HonorHealth and Mission Viejo, Calif.-based Sovereign Healthcare to build the 50,000-square-foot, two-story building that includes an ASC.
5. Washington, D.C., Mayor Muriel Bowser, Universal Health Services, George Washington University and Children's National Hospital broke ground on a medical center with an ambulatory pavilion.