Ambulatory refers to outpatient care, something that can lean towards faster recovery. Being able to remain comfortably at home during recovery is something that a hospital cannot provide. This is why ambulatory surgery is becoming even more popular. It is a surgical procedure that is scheduled ahead of time and does not require the patient to stay overnight in the hospital.
California residents may soon have more access to this type of surgical procedure -- often referred to as one-day, in-and-out or even outpatient surgery. How is access being expanded in the area? Through a joint venture between two large healthcare groups, one of which is based in Fountain View, California.
MemorialCare Health System has a physician group division that is joining forces with Surgical Care Affiliates. The joint venture was agreed upon with the goal of acquiring, further developing and operating more ambulatory surgery centers in two counties. Those counties are Orange County and Los Angeles County.
Joint ventures such as this one involve some of the similar decisions that starting a new business does. For example, choosing to create a partnership and deciding how the "interest" will be divided. In this case, the newly formed Beach Surgical Holdings will have a nearly even interest split between MemorialCare Medical Foundation and Surgical Care Affiliates and an independent physician association and 50 physician partners. The partners and the association will own 49 percent while MemorialCare and SCA will own 51 percent as well as own and operate the joint venture.
Source: Becker's ASC Review, "MemorialCare in California Forms Joint Venture With Surgical Care Affiliates," Bob Herman, Feb. 8, 2013
Decisions involved in joint venture formation matter at the moment of formation and throughout the entire operation. Our San Diego law firm is well equipped with the experience and legal knowledge to help clients prepare for a successful future.
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