Brown Gibbons Lang & Company (BGL) is pleased to announce the simultaneous recapitalizations of Grandview Surgery Center and North East Surgery Center (NESC) by Surgical Care Affiliates (SCA) and Geisinger Health, respectively. SCA and Geisinger each formerly owned equity in both Grandview and NESC; SCA now owns the majority of Grandview, and Geisinger is now majority owner of NESC. BGL’s Healthcare & Life Sciences team served as the exclusive financial advisor to Geisinger on both transactions; the specific terms were not disclosed.
Grandview Surgery Center is a freestanding outpatient surgery facility with operating rooms specially designed for same-day procedures, while North East Surgery Center is an independent ambulatory surgery center. These transactions build upon BGL’s market leadership position in advising healthcare systems and related ancillary services.
Geisinger is a leading provider of healthcare services based in Danville, Pennsylvania committed to making health easier for more than 1.5 million consumers. Founded more than 100 years ago, the system now includes 13 hospital campuses, a 540,000-member health plan, two research centers and the Geisinger Commonwealth School of Medicine. Geisinger has more than 32,000 employees and 1,800 employed physicians.
SCA, a portfolio company of Optum, is a leader in outpatient surgery, partnering with health plans, medical groups, and health systems across the country to develop and optimize surgical facilities. SCA operates more than 200 surgical facilities, including ambulatory surgery centers and surgical hospitals, in partnership with approximately 3,000 physicians. Optum, part of UnitedHealth Group (NYSE:UNH), is a leading information and technology-enabled health services business with more than 100,000 people worldwide.