Surgical Care Affiliates (SCA) has acquired a majority interest in Metropolitan Medical Partners, LLC dba The Surgery Center of Chevy Chase (SCCC). SCCC specializes primarily in orthopedic surgery, but other specialties include podiatry, ENT, plastic surgery, dental surgery, urology, and pain management. Provident Healthcare Partners served as exclusive financial advisor to SCCC. The terms of the transaction were not disclosed.
"Throughout our longstanding relationship with Provident, they have been incredibly professional and diligent in their efforts. I worked with many members of the Provident team and would absolutely recommend the firm without reservations. We couldn't have completed our sale without them," commented Dr. Sunjay Berdia, Chairman of the Board and Shareholder for SCCC.
"SCA's expertise in partnering with musculoskeletal-focused practices and surgery centers across the country will best position SCCC to continue to be a leader in high quality orthopedic care within central Maryland," notedKevin Palamara, Managing Director at Provident Healthcare Partners.
"SCCC has established itself as a leading orthopedic-focused, multispecialty surgery center in the state through attracting a group of highly respected physicians. The partnership with SCA will provide SCCC with the management resources and clout of a national provider of surgical care," stated Eric Major, Senior Associate at Provident Healthcare Partners.
About the Surgery Center of Chevy Chase
The Surgery Center of Chevy Chase is located in Montgomery County, Maryland in the affluent area of Chevy Chase, just one mile from the Washington, DC line. SCCC has been opened since 1999 and was originally a center for plastic surgery. SCCC is accredited through AAAHC, licensed by the state of Maryland, certified by Medicare, and affiliated with most major HMOs and PPOs. For more information, please visitwww.scchevychase.com.
About Surgical Care Affiliates
SCA (NASDAQ: SCAI), a leader in the outpatient surgery industry, strategically partners with health plans, medical groups and health systems across the country to develop and optimize surgical facilities. SCA's community of teammates, physician partners and health system partners are deeply committed to providing quality patient care and improving healthcare in America. SCA's focus on building strategic relationships with its partners enables it to acquire, develop and optimize facilities in an aligned economic model that enables better access to high-quality care at lower cost. For more information, please visit http://scasurgery.com/.
About Provident Healthcare Partners
Provident is the leading investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation for middle-market and emerging growth healthcare companies. The firm has a vast network of high-level, senior industry contacts, a thorough knowledge of market sectors and specialties, and unsurpassed experience and insight into the M&A process. Provident uncovers value and opportunities that others often overlook to create transaction premiums for its clients. For more information, visit the Provident website www.providenthp.com.
