Sheridan Memorial Hospital Acquires Majority Stake in Sheridan Surgical Center
Sheridan Memorial Hospital has acquired a majority stake in Sheridan Surgical Center, a move that strengthens their partnership and benefits both institutions. The surgical center, specializing in Urology, Gastroenterology, Dental Surgery, and General Surgery, has been operating since 2005.
The Hospital Board of Directors approved the purchase of 55% of the surgical center for over $4 million. Sheridan Memorial Hospital aims to run the Center separately from its existing physician relationships, indicating a strategic decision to maintain the surgical center's independence while fostering a strong partnership.
The acquisition follows the successful integration of Sheridan Orthopedic Associates, which joined the hospital in December 2021. While the specific ownership structure of the Sheridan Surgical Centers is not fully disclosed, with 45% remaining with other owners, the collaboration is expected to bring synergies and improved services to the community.
Sheridan Memorial Hospital's acquisition of Sheridan Surgical Center, along with the previous integration of Sheridan Orthopedic Associates, demonstrates the hospital's commitment to expanding its services and strengthening its community partnerships. The purchase, despite the remaining 45% ownership, is seen as beneficial for both institutions, enhancing their collective ability to serve the community's healthcare needs.
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