Surgery Partners buys Delaware ASC

Post-Symbion merger, company enters 29th state
Feb 4, 2015 1:01 PM

Symbion buyer to divest surgery center in FTC settlement

Surgery Center Holdings' acquisition of local competitor Symbion has closed, but the Chicago company will be required by the Federal Trade Commission to divest an Florida surgery center.

The settlement to sell Blue Springs Surgery Center, which avoids further litigation for the parties, is representative of continued scrutiny of health care companies by antitrust agencies, says Bass Berry & Sims. The $792 million acquisition of Symbion, formerly based out of Green Hills, closed earlier this month.

From the FTC complaint:

The merger would combine ownership of the only two multi-speciality ambulatory surgery centers in Orange City, Florida...The likely ultimate effect of the merger would be that prices of outpatient surgical services sold to commercial health plans and commercially insured patents would rise above competitive levels, and there would be a decrease in the quality or availability of outpatient surgical services in the area.

Nov 20, 2014 8:40 AM

Symbion's sale is a done deal

Surgery Center Holdings has wrapped up its $792 million acquisition of locally based competitor Symbion. The combined company will generate total revenues of more than $900 million from facilities in 26 states. As part of the deal, CEO Richard Francis and President and COO Cliff Adlerz have resigned from their positions, starting the clock on their noncompete and nonsolicitation agreements.

Nov 5, 2014 1:41 PM

Earnings wrap: Symbion, Community First

Per-case revenue growth lifts surgery center owner; loss provision reversal helps bank holding company
Aug 11, 2014 7:19 AM

Owner selling Symbion for $792M

Local company’s CEO, COO have signed noncompetes with buyer based in Chicago, Tampa
Jun 13, 2014 1:57 PM

Earnings wrap: Sitel, Symbion, Community First

Call center operator to raise $75M in stock sale, discontinued operations hurt surgery center chain, Treasury auctions TARP stake in Columbia bank
May 12, 2014 7:30 AM

Earnings wrap: Emdeon, Symbion

Revenue cycle manager takes charge on project cancellation; surgery center owner ends year with solid case growth
Mar 18, 2014 7:23 AM

Cashia passes CEO torch at Vivere

Former Healthways, Health Net exec taking top spot; Springstone and Symbion veteran comes aboard to lead operations
Nov 19, 2013 2:07 PM

Report: Symbion on the block

Reuters says private-equity firm Crestview Partners is ready to cash in on its six-year-old investment in local ambulatory surgery center chain Symbion. The Burton Hills-based company could fetch as much as $800 million, sources say, which would be about 10 times its expected 2013 EBITDA. Through the first nine months of this year, Symbion posted operating income of $54.4 million, down 13 percent from a year ago.

Nov 12, 2013 5:59 AM

Earnings wrap: Capella, Emdeon, Symbion

Hospital chain's continuing operations break even, top line up 9% at revenue cycle manager, procedure levels flat at surgery center owner
Nov 11, 2013 7:00 AM