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NovaMed acquires eighth ASC in '06

Ambulatory Surgery Reimbursement Update, October 10, 2006

NovaMed has acquired its eighth ambulatory surgery center (ASC) in 2006, according to a press release from NovaMed.

The ASC announced it acquired 65% of a facility in Cleveland, Tennessee, its second ASC in the state.

"The Cleveland acquisition expands NovaMed's presence in the southeastern Tennessee market where we already own a center in nearby Chattanooga," said Thomas S. Hall, NovaMed president and chief executive officer, in the press release. "We have 14 physician-partners in this surgery center representing six different specialties and we look forward to working with them to identify additional growth opportunities."

The company also announced that it had completed a 51% purchase of an ASC in Gainesville, Florida.

To read the press release, click here.

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