Regent Surgical Health Announces ASC Joint Venture with Chicago’s Swedish Covenant Hospital and 23 Surgeons
Deal is Surgery Center Management & Development Company’s 23rd Center & 11th Hospital Joint Venture
Westchester, IL (March 22, 2011) – Chicago’s Swedish Covenant Hospital broke ground this month on a $55,000,000 expansion of its medical campus which includes an eight story medical office building that contains a freestanding ambulatory surgery center. The surgery center is in partnership with Regent Surgical Health and 23 physician partners. This is Regent’s 23rd surgery center – 11 of which are joint ventures with hospitals and physicians. The new facility will provide specialties including general surgery, orthopedics, podiatry, pain management, ophthalmology, and urology.
“Regent Surgical Health was a critical component of Swedish Covenant Hospital’s ability to partner with physicians and ensure our interests were aligned for a successful Ambulatory Surgery Center,” says Mark Newton, president at Swedish Covenant Hospital.
Regent is a specialist in structuring ASC JVs and developing strong models of partnership that align the long term interests of hospitals and surgeons. Its hospital and health system partners include Catholic Healthcare West, OhioHealth, Kettering Health Network, Kish Health Systems, Memorial Health System, Marietta Memorial Hospital, Palos Community Hospital, Swedish Covenant Hospital and more.
“Hospitals and surgeons are both facing the same difficult challenges related to competition, the economy and healthcare reform,” explains Regent Chief Development Officer Jeffrey Simmons. “It is much easier to solve these problems together. At Regent, we have developed ownership models that bring these two sides back together. Hospitals, surgeons and the patient community all benefit from these collaborations.”
Swedish Covenant Hospital serves the medical needs of the north and northwest sides of Chicago. The new Swedish Covenant Surgical Center is scheduled to open in July of 2012.
About Regent Surgical Health
Regent Surgical Health develops, manages and invests in surgery centers throughout the U.S. Regent has an unmatched record for delivering sustainable profitability while enabling physician partners to maintain clinical autonomy and financial control. We invest capital side by side with physician partners and firmly believe the by-product of excellent care and efficiency is financial success. To learn more about Regent Surgical Health and other physician/hospital alliance opportunities, visit our web site at www.regentsurgicalhealth.com, or email jsimmons@regentsurgicalhealth.com.
Contact:
Scott Christiansen / 312-961-4745
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