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October 3, 2012

Scottsdale Healthcare acquires major stake in Biltmore Surgical Center

Scottsdale Healthcare and its partner Sovereign Healthcare have acquired a majority stake in Biltmore Surgical Center, an outpatient surgery facility in Phoenix, US.

By admin-demo

Scottsdale Healthcare and its partner Sovereign Healthcare have acquired a majority stake in Biltmore Surgical Center, an outpatient surgery facility in Phoenix, US.

Arizona-based Scottsdale Healthcare is expected to expand patient access to off-campus outpatient surgery services and strengthen association with physicians, as a result of the transaction.

Scottsdale Healthcare president and CEO Tom Sadvary said Scottsdale Healthcare is developing quality medical care in outpatient settings outside its three hospital campuses.

"The transaction with Scottsdale Healthcare only strengthens what Biltmore Surgical Center will be able to provide, and we at Sovereign are excited to be involved in this pro-physician, pro-community effort."

"This venture illustrates our commitment to partnerships that are focused on achieving the highest quality care and best patient experience," Sadvary added.

Biltmore Surgical Center will remain as an independent facility separate from Scottsdale Healthcare.

Sovereign will continue to manage the facility and will work with Scottsdale Healthcare to explore potential economies of scale for purchasing and contracting.

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Sovereign Healthcare CEO Jeremy Hogue said, "The transaction with Scottsdale Healthcare only strengthens what Biltmore Surgical Center will be able to provide, and we at Sovereign are excited to be involved in this pro-physician, pro-community effort."

Biltmore Surgical Center opened in 2010, and Scottsdale Healthcare, through its joint venture with Sovereign, has been a minority partner until now.

With the completion of the transaction, the Scottsdale Healthcare/Sovereign joint venture will have three majority-owned outpatient surgery centres, with Biltmore Surgical Center joining North Valley Surgery Center in Scottsdale and Paramount Surgery Center of Mesa, in Mesa.

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