FOR IMMEDIATE RELEASE – Leawood, KS, February 1, 2018 – NueHealth LLC (“NueHealth”), a Kansas-based company, is proud to announce its agreement with Medical Facilities Corporation (“Medical Facilities”) (TSX:DR) to create a joint venture (“Joint Venture”) acquiring seven ambulatory surgical centers from Meridian Surgical Partners of Brentwood, Tenn (“Meridian”). Ambulatory surgery centers specialize in outpatient surgical procedures, reducing both costs and risk of infection with patient stays of less than 24 hours.
The new Joint Venture will be known as MFC Nueterra Holding Company, LLC and be majority-owned by Medical Facilities. NueHealth will bring its robust experience in not only operating surgical centers and working with physician partners, but in understanding how they work together to create systems that facilitate new levels of accessibilities, alignment, risk readiness and consumer transparency.
The Joint Venture will acquire ownership interests in the following centers, which combined have 26 operating and procedure rooms and provide medical procedures including orthopedic surgery, neurosurgery and pain management:
- Brookside Surgery Center (Battle Creek, Michigan)
- Central Arkansas Surgical Center (Russellville, Arkansas)
- City Place Surgery Center (Creve Coeur, Missouri)
- Eastwind Surgical (Westerville, Ohio)
- Miracle Hills Surgery Center (Omaha, Nebraska)
- Riverview Ambulatory Surgical Center (Kingston, Pennsylvania)
- Two Rivers Surgery Center (Eugene, Oregon)
NueHealth will provide day-to-day management and operations support to the centers, including accounting, materials management, payor contracting, benefits administration and billing and collections as part of a management services agreement with the Joint Venture. Through its platform of affiliate companies, NueHealth is able to provide a value-based delivery system of surgical and diagnostic facilities, risk-readiness and sustainability programs, automated value-based claims administration and patient direct-to-consumer programs. “We are pleased to be working with Medical Facilities to provide quality care to the patients in these communities,” said Dan Tasset, Chairman of NueHealth. “Both of us are sensitive to the concerns of physician ownership groups and have experience helping them achieve their goals while delivering shareholder value. We look forward to extending this partnership further.”
NueHealth, LLC, is a privately held nationally trusted healthcare partner with more than 10,000 physicians and 25 health systems delivering approximately $776 million of consolidated revenue annually in 28 states. Our core business is comprehensive outpatient surgical care. Our market development is concentrated in four major regions, Mid-Atlantic, Florida, Texas and Mid-West. Since 1997, we have been successfully developing joint ventures with more than 150 high-value sites of service supported by over 2500 associates, including ASCs, MUVE™ hyper specialty joint replacement centers and specialty surgical hospitals. Our efforts have helped stabilize provider independence through wealth creation, ownership, and increased referral volume while successfully guiding them through the transition from fee for service to value based risk contracting. NueHealth has developed the industry’s most comprehensive Ambulatory Center of Excellence™(ACE) platform that assists payors, health systems and providers in delivering an appropriate alternative to fee for service, high-cost care for fully insured members and self-insured covered lives.