St. Louis-based Ascension continues to offload hospitals and ASCs in a bid to reorganize its portfolio and improve fiscal performance. Here are four notes on Ascension’s recent asset sales: 1. Ascension’s recent sale of four hospitals in southwest Michigan to South Bend, Ind.-based Beacon Health System represents a complete exit from the state. 2. The […]
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Providence, R.I.-based Anchor Medical Associates will close all three of its offices by June 30. According to an April 7 statement on the practice’s website, AMS will first close its Warwick (R.I.) Pediatric/Adult Medicine office, effective April 30. The other two office closures will follow by June 30. “The decision to close our practices has […]
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The Justice Department launched an anticompetitive regulations task force March 27 with the goal of identifying and eliminating federal and state regulations surrounding market competition, including in healthcare. Here are five notes on the initiative: 1. The initiative will operate within the department’s antitrust division and expand ongoing efforts to combat policies that the administration […]
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Medical outpatient facility Naperville (Ill.) Medical Center has been sold for $16.3 million, according to an April 4 report from the Chicago Business Journal. The 39,000-square-foot building is fully leased to Advocate Outpatient Center, an affiliate of Downers Grove, Ill.-based Advocate Health Care. It houses general surgery, primary care, physical therapy and cardiology services. Advocate […]
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In February, Walgreens Boots Alliance entered into a $10 billion definitive agreement with private equity firm Sycamore Partners to take the company private. The total value of the deal could reach as high as $23.7 billion and is expected to close in the fourth quarter of 2025. Under the agreement, Walgreens shareholders will receive $11.45 […]
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South Bend, Ind.-based Beacon Health System will acquire 35 outpatient clinics and an ASC from Ascension Michigan, a division of St. Louis-based Ascension Health, according to an April 3 report from the South Bend Tribune. Beacon will also acquire four hospitals, in total gaining more than 2,700 associates, including 261 providers. Ascension is planning an […]
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Tallahassee Primary Care Associates is closing after nearly 30 years, WFSU Public Media reported April 1. The closure will take effect April 25, according to the report. In January, the practice announced that “select physicians” would be departing, and that other departures and service line closures would also potentially take place. In an open letter […]
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Independent ASCs are under growing pressure as reimbursement fails to keep pace with rising operational costs, staffing shortages and mounting administrative burdens. In response to these challenges, Gregg Gordon launched Surgical Solutions IPA in 2024, one of the country’s first independent practice associations built solely for ASCs. Based in New York City, SSIPA works to […]
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Here are 12 financial notes from three of the biggest ASC operators, pulled from their most recent financial reports: United Surgical Partners International (Dallas) 1. USPI reported $4.5 billion in net operating revenues for 2024, a 15.4% increase from $3.9 billion in 2023. 2. USPI’s net operating revenues for the fourth quarter of 2024 reached […]
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On April 1, Los Angeles-based Prospect Medical Holdings was scheduled to present a proposed purchase agreement for a consortium to acquire Upland, Pa.-based Crozer Health — but the meeting was rescheduled, Daily Times reported April 1. Prospect asked U.S. Bankruptcy Court Chief Justice Stacey Jernigan to move the hearing to 3:30 p.m. local time on […]
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