Physicians Endoscopy Acquires Majority Ownership in ASC-North Bergen, NJ
DOYLESTOWN, Pa., Oct. 19, 2012 /PRNewswire/ -- Physicians Endoscopy, LLC (PE) is pleased to announce the acquisition of a majority interest in the Ambulatory Center for Endoscopy and Colonoscopy (ACE) located in North Bergen, New Jersey. ACE is a joint venture partnership between a coalition of eleven gastroenterologists and Physicians Endoscopy (PE), who will provide administrative services to the facility.
Located within Palisades Medical Center in North Bergen, this two-room facility performs in excess of 6,500 procedures annually. The center is staffed with eleven board-certified gastroenterologists representing seven practices including: Raffaele Gibilisco, MD; Alan Port, MD; Rafael Ramos, MD; Jeffrey Raskin, MD; Michael Sciarra, DO; Wayne Siegel, MD; Harry Snady, MD; Paul Stoopack, MD; Harold Tepler, MD; Mauricio Zapiach, MD; and Leonidas Zapiach, MD who serves as the facility's medical director.
"Our partnership with PE provided us the flexibility necessary within our coalition that allows for strategic growth and a continued sustainable profitable business during times of change in health care. While other companies wanted to buy a majority equity ownership in our center, only PE could accommodate the strategy we felt necessary to allow for future owners without the current physicians diluting further equity. PE's flexibility all along the way, and their concern with maintaining the physician's individuality, was instrumental in solidifying the relationship. We look forward to a long-term partnership of continued growth and reward," stated Dr. Wayne Siegel.
"The Physicians of ACE did an outstanding job of effectively moving the group through the acquisition process. Working with their three-physician management team created the ideal structure for a coalition of this size. Drs. Siegel, Gibilisco and Stoopack were extremely attentive to the entire process which was significant to keep to our tightly structured transaction timeline. We are very happy to be partnered with the entire ACE team," stated Carol Stopa, Vice President, PE.
ABOUT AMBULATORY CENTER FOR ENDOSCOPY
ACE is the only New Jersey-based private Ambulatory Surgery Center located within a hospital setting, making it convenient to access the hospital's ancillary services when needed. The center is convenient for patients from Hudson, Bergen and Passaic Counties and several New York City boroughs.
Learn more about ACE by visiting www.ace-endoscopy.com
SOURCE Physicians Endoscopy