Medical Facilities Corporation completed the sale of its 64% interest in Oklahoma Spine Hospital to SSM Health Care of Oklahoma.
SSM and physician partners acquired 55.5% and 8.45% of equity securities, respectively, according to a Feb. 2 news release. The full transaction was $46 million.
Medical Facilities Corporation also completed its sale of The Surgery Center of Newport Coast in Newport Beach, Calif., to Newport Center GK on Dec. 31. That transaction was for $1.5 million.
“We are excited for the opportunity to partner with the physicians at Oklahoma Spine Hospital,” Joe Hodges, regional president of SSM Health Oklahoma, said in a Feb. 2 news release from the health system. “The hospital and physicians have an outstanding reputation for providing spine and pain care specialty services to patients in north Oklahoma City and beyond OSH’s services and providers will further expand our Mission and complement the exceptional services and team of SSM Health physicians delivering neurosurgical, spine and pain care across Oklahoma.”
Employees in the joint venture will remain employed by OSH. The hospital will be renamed SSM Health Oklahoma Spine Hospital, Physician Owned, SSM Health said.
