CHICAGO--(BUSINESS WIRE)-- NovaMed, Inc. (Nasdaq: NOVA), a leading operator of ambulatory surgery centers in partnership with physicians, today announced its first hospital partnership. Bronson Healthcare Group, a not-for-profit healthcare system with hospitals serving southwest Michigan and northern Indiana, has acquired a 5% equity interest in the Surgery Center of Kalamazoo, one of NovaMed’s multi-specialty ambulatory surgery centers. The Surgery Center of Kalamazoo is located in Portage, Michigan and has four operating rooms in which orthopedic, ophthalmology, pain management, podiatry, ENT and plastics procedures are performed. NovaMed owns a 60.5% equity interest in the facility following the transaction.
“NovaMed and our physician partners in the facility are excited to welcome Bronson as a partner in the Surgery Center of Kalamazoo,” commented Thomas S. Hall, NovaMed Chairman, President and Chief Executive Officer. “Bronson has an outstanding national reputation for quality and overall organizational performance. We believe Bronson’s involvement as a partner in the Surgery Center of Kalamazoo will strengthen the facility’s performance and ability to continue to provide high quality patient care in the community,” added Mr. Hall.
“Bronson is pleased to partner with NovaMed and all of the physicians associated with the Surgery Center of Kalamazoo,” commented John Jones, Jr., Bronson’s Sr. Vice President Regional and Physician Services. “Developing closer relationships between hospitals and providers has always been important and, in this era of healthcare reform, it is more valuable than ever. Bronson looks forward to our new relationship with NovaMed and the opportunities it brings to collaborate and further enhance ambulatory surgical services in our area.”
About Surgery Center of Kalamazoo
The Surgery Center of Kalamazoo is a state-of-the-art, multi-specialty ambulatory surgery center with four operating rooms. Established in 2004, the facility is currently used by 23 surgeons, 15 of whom are partners in the center. The facility is located at 3200 West Centre in Portage, Michigan. Learn more at www.scok.org.
Bronson Healthcare Group is a community-owned healthcare system headquartered in Kalamazoo, Michigan. Its flagship hospital, 380-bed Bronson Methodist Hospital, is the recipient of the 2005 Malcolm Baldrige National Quality Award, the nation's highest presidential honor for quality and organizational performance excellence. In 2009, the hospital received the AHA McKesson Quest for Quality Prize awarded annually to only one U.S. hospital, was named one of the nation's 100 Top Hospitals by Thomson Reuters, and joined the top five percent of hospitals in the nation to be designated a Magnet Hospital for Nursing Excellence. Bronson is also ranked in the top five percent of hospitals in the nation as a 2009-10 HealthGrades Distinguished Hospital for Clinical Excellence. Learn more at bronsonhealth.com.
NovaMed operates, develops and acquires ambulatory surgery centers in partnership with physicians and holds majority ownership interests in 37 surgery centers located in 19 states. Learn more at www.novamed.com.
This press release contains forward-looking statements that relate to possible future events. These statements are based on management’s current expectations and are subject to risks and uncertainties, which could cause our actual results to differ materially from those expressed or implied in this press release. These risks and uncertainties include: the current difficult economy and tightened credit markets; our current and future debt levels; our ability to access capital on a cost-effective basis to continue to successfully implement our growth strategy; reduced prices and reimbursement rates for surgical procedures; our ability to acquire, develop or manage a sufficient number of profitable surgical facilities; our ability to maintain successful relationships with the physicians who use our surgical facilities; our ability to grow and manage effectively our increasing number of surgical facilities; competition from other companies in the acquisition, development and operation of surgical facilities; and uncertainty around national healthcare reform and the application of existing or proposed government regulations, or the adoption of new laws and regulations, that could limit our business operations, require us to incur significant expenditures or limit our ability to relocate our facilities if necessary. Readers are encouraged to review a more complete discussion of the factors affecting NovaMed’s business and prospects in its filings with the Securities and Exchange Commission, including the company’s 2009 Form 10-K filed on March 16, 2010. Readers should not place undue reliance on any forward-looking statements. Except as required by the federal securities laws, NovaMed undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.
Scott T. Macomber
Executive Vice President and Chief Financial Officer
Susan A. Noonan
S. A. Noonan Communications
Susan J. Watts
Director Corporate Communications
KEYWORDS: United States North America Illinois Michigan
INDUSTRY KEYWORDS: Surgery Practice Management Health Hospitals General Health