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Owensboro Health Acquires Ohio Valley Surgical Specialists
Ohio Valley Surgical Specialists, an organization of surgeons and surgical medical professionals founded in the mid 1920s, has agreed to a merger with Owensboro Health. The acquisition, which is slated to become official today, should provide Owensboro Health with a number of business and medical contributions key to the success of its $385-million, 477-bed, state-of-the-art hospital which is currently under construction.
"Having this group of established and respected surgeons join Owensboro Health is a natural next step toward improving the health of the communities we serve," said a vice president at Owensboro Health. "Our desire is to work more closely with these physicians to expand our surgical service line and recruit additional surgeons to the practice."
Once the merger takes effect, the new company will be known as Owensboro Health Surgical Specialists and be part of the Owensboro Health Medical Group. The group will maintain its current office space, and its surgeons will also see patients at hospitals throughout its 11-county service area, including Owensboro Health Regional Hospital, Owensboro Health Multicare Ohio County, and Perry County Memorial Hospital, along with the new medical center.
Owensboro Health Surgical Specialists will continue to provide both adult and pediatric surgery services ranging from cancer procedures and non-cardiac thoracic surgery to trauma care.
"We eagerly anticipate our merger with Owensboro Health," said Ohio Valley Surgical Specialists' managing partner. "We view this as a great opportunity to further improve what we consider an excellent surgical service line."
Providing the highest quality services possible is the goal of all health care organizations. In an effort to foster and maintain those high standards, both the state and federal legislatures have put in place a number of complex regulatory requirements in place for the industry. While the regulatory challenges for mergers and acquisitions in health care are complex, the successful completion of these transactions can provide substantial advantages both to the businesses and patients.
Source: The Lane Report, "Owensboro Health to acquire Ohio Valley Surgical Specialists," May 1, 2013