Physicians Endoscopy Acquires Majority Ownership in ASC -- Newtown, PA
DOYLESTOWN, Pa., Jan. 24, 2013 /PRNewswire/ -- Physicians Endoscopy, LLC (PE), along with the physicians of Bucks County Gastroenterology, PC, and Clinical Gastrointestinal Associates, PC, are pleased to report that as of December 31, 2012, PE has acquired a majority share of the Endoscopy Center of Bucks County (ECBC). Located in Newtown, PA, this center is the closest in proximity to PE's corporate office and is the 6th acquisition for PE in 2012. This three-procedure room, eight-physician center opened in 2006, and is expected to perform over 7,000 procedures annually.
"We are very excited about our decision to add PE as a corporate partner. Throughout our discussions, they were a pleasure to deal with and made great efforts to accommodate all of our needs. With their expertise, we are confident we will be able to take our center to the next level of excellence. We look forward to a long and successful relationship," states David Popper MD, Medical Director, ECBC.
"PE was initially contacted by the physicians in November 2012. They wanted to quickly close the transaction before the end of the year to benefit from the capital gains tax. It was an extraordinary effort by all parties to navigate through the due diligence and legal process in a matter of 60 days. Fortunately, the center's administrative and physician teams were extremely organized and committed to keeping to our tightly structured transaction timeline. It was evident from the outset this would be a great partnership," said Carol Stopa, VP, New Business Development, Physicians Endoscopy.
Physicians Endoscopy is a nationally recognized development and management partner for single-specialty EASCs. The company currently operates 27 partnered facilities in 13 states and will open several additional facilities in the next twelve months. For more information, please visit www.endocenters.com
SOURCE Physicians Endoscopy