Brown Gibbons Lang & Company (BGL), a leading middle market investment bank, is pleased to announce that its client, Surgical Institute of Reading (SIR), has partnered with United Surgical Partners International (USPI) and its affiliate, Reading Surgery Center (RSC). BGL served as the exclusive financial advisor to SIR in the transaction. The specific terms of the transaction were not disclosed.
Opened in 2008 in Reading, Pennsylvania, physician-owned Surgical Institute of Reading (SIR) is a regional provider of inpatient and outpatient surgical services in a wide array of specialties including orthopedics, ENT, gynecology, plastic and reconstructive surgery, and general surgery. The state-of-the art surgical hospital is equipped with four operating suites, 15 inpatient rooms, and additional procedure space for a variety of diagnostics and pain management. SIR completed more than 4,500 surgical cases during its most recent fiscal year, and its quality metrics consistently rank above the 90th percentile nationally.
United Surgical Partners International (USPI) is the largest manager of short-stay surgery facilities in the United States. USPI currently owns and operates more than 200 short-stay facilities serving more than 9,000 physicians and almost one million patients each year. The company maintains strategic joint-venture partnerships with more than 4,000 physicians and over 50 health systems nationwide. USPI affiliate Reading Surgery Center is an independent, physician-owned, three-operating room outpatient facility located in Reading. Approximately 7,800 annual procedures are performed at the facility across multiple specialties.
McDermott Will & Emery was legal counsel to SIR, McGuire Woods and Jones Day were legal counsel to USPI, and The Healthcare Group was legal counsel and financial advisor to RSC.