CHICAGO, Aug. 19, 2020 /PRNewswire/ -- Brown Gibbons Lang
& Company ("BGL") is pleased to announce the simultaneous
recapitalizations of Grandview Surgery Center and North East
Surgery Center ("NESC") by Surgical Care Affiliates ("SCA") and
Geisinger Health, respectively. SCA and Geisinger each formerly
owned equity in both Grandview and
NESC; SCA now owns the majority of Grandview, and Geisinger is now majority owner
of NESC. BGL's Healthcare & Life Sciences team served as the
exclusive financial advisor to Geisinger on both transactions; the
specific terms were not disclosed.
Grandview Surgery Center is a freestanding outpatient surgery
facility with operating rooms specially designed for same-day
procedures, while North East Surgery Center is an independent
ambulatory surgery center. These transactions build upon BGL's
market leadership position in advising healthcare systems and
related ancillary services.
Geisinger is a leading provider of healthcare services based in
Danville, Pennsylvania committed
to making health easier for more than 1.5 million consumers.
Founded more than 100 years ago, the system now includes 13
hospital campuses, a 540,000-member health plan, two research
centers and the Geisinger Commonwealth School of Medicine.
Geisinger has more than 32,000 employees and 1,800 employed
physicians.
SCA, a portfolio company of Optum, is a leader in outpatient
surgery, partnering with health plans, medical groups, and health
systems across the country to develop and optimize surgical
facilities. SCA operates more than 200 surgical facilities,
including ambulatory surgery centers and surgical hospitals, in
partnership with approximately 3,000 physicians. Optum, part of
UnitedHealth Group (NYSE:UNH), is a leading information and
technology-enabled health services business with more than 100,000
people worldwide.
About Brown Gibbons Lang & Company
Brown Gibbons
Lang & Company (BGL) is a leading independent investment bank
and financial advisory firm focused on the global middle market.
The firm advises private and public corporations and private equity
groups on mergers and acquisitions, divestitures, capital markets,
financial restructurings, valuations and opinions, and other
strategic matters. BGL has investment banking offices in
Chicago, Cleveland, and Philadelphia, and real estate offices in
Chicago, Cleveland, Denver, and San
Antonio. The firm is also a founding member of Global
M&A Partners, enabling BGL to service clients in more than 30
countries around the world. Securities transactions are conducted
through Brown, Gibbons, Lang & Company Securities, Inc., an
affiliate of Brown Gibbons Lang & Company LLC and a registered
broker-dealer and member of FINRA and SIPC. For more information,
please visit www.bglco.com.
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SOURCE Brown Gibbons Lang & Company