A Medical Device Daily
NovaMed (Chicago) reported that it has acquired a 65% interest in the Center for Specialized Surgery (Bethlehem, Pennsylvania), a multi-specialty ambulatory surgery center with two operating rooms and two procedure rooms.
The surgical procedures performed at this center include orthopedic, ENT, ophthalmology, pain management and general surgery procedures. This will be NovaMed's second surgery center in Pennsylvania.
"In the last 12 months approximately 10,000 procedures were performed at this surgery center, generating approximately $7 million in net revenue," said Thomas Hall, NovaMed chairman/president/CEO. "This center is currently used by 31 doctors, 15 of whom will be our partners in this center."
NovaMed acquires, develops and operates ambulatory surgery centers in partnership with physicians. Including this transaction, NovaMed now has majority ownership interests in 37 surgery centers located in 19 states.
In other dealmaking news, HLTH (Elmwood Park, New Jersey) reported the final results of its tender offer to purchase up to 80 million shares of its common stock at a price of $8.80 per share, which expired on Nov. 25.
As previously reported, HLTH exercised its right to purchase an additional 2% of its outstanding shares without extending the tender offer and has accepted for purchase 83,699,922 shares, including all "odd lots" properly tendered, at a purchase price of $8.80 per share, for a total cost of about $736.6 million.
Based on the final tabulation by American Stock Transfer & Trust Co., the depositary for the tender offer, 85,821,641 shares of common stock were properly tendered and not withdrawn or tendered conditionally. HLTH has been informed by the depositary that, after giving effect to the priority for odd lots, the final proration factor is about 97.513%.
Citi was dealer manager for the tender offer, with Innisfree M&A serving as information agent.
HLTH owns about 84% of WebMD Health (New York), a provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through its public and private online portals and health-focused publications. HLTH also owns Porex, a developer of proprietary porous plastic products and components used in healthcare, industrial and consumer applications.