Universal Health Services, Inc. (NYSE: UHS) and Regent Surgical Health (Regent) announced today the signing of a definitive agreement to form a national partnership. The new joint venture entity will build and operate Ambulatory Surgery Centers (ASCs), providing patients with convenient access to new high quality outpatient surgical services in served markets, and providing physician practices with more efficient outpatient locations to perform appropriate procedures.
For a copy of the press release, click here.
“The partnership with Regent enables UHS to further expand its ambulatory capabilities bringing the right care to the right consumer at the right location,” said Marvin Pember, Executive Vice President and President, Acute Care Division, Universal Health Services. “Over the last 40 years, UHS has established and expanded its substantial leadership position in the acute care hospital space. Our dedication to delivering clinical excellence sets us apart in the communities we serve. Being a leader means providing the highest quality care every day. By engaging with Regent, we further extend that commitment to patients through Ambulatory Surgery Centers.”
Ambulatory surgery centers are at the center of today’s most pressing healthcare initiatives including value-based care and risk-sharing payment models. Regent will partner with UHS to develop and deliver a transformative ambulatory strategy that improves both quality of care and bottom-line results. In operating the centers, the Regent model leverages its best practices across all key functions, including staff recruitment and retention, training, physician recruitment, surgeon and patient satisfaction, clinical oversight, payer contracting, supply chain, case costing, revenue cycle and marketing.
“We continually innovate and enhance the ASC model to ensure success in the changing healthcare market conditions,” states Chris Bishop, CEO of Regent. “Our operating model has realized a material increase in both patient and surgeon satisfaction scores, due in large part to improved efficiency of operations and clinical focus. It’s a privilege to partner with UHS, sharing a common vision to drive innovation and transformation in healthcare.”