Stillwater (Okla.) Medical Center's board of trustees approved the hospital's efforts to expand its surgery center and purchased interest in an orthopedic group, according to Stillwater News Press.
Here are five insights:
1. SMC will purchase 50 percent interest in Bushwood, a corporation owned by orthopedic surgeons. Bushwood owns the Stillwater Surgery Center.
2. Buying into a partnership will allow Stillwater Medical Center to use more operating rooms and endoscopy space without needing to purchase equipment at Stillwater Surgery Center.
3. SMC is nearing the end of its leasefor both its surgery center and orthopedic clinic. By investing in Bushwood, SMC will not have to make expensive improvements and remodels to a building it does not own.
4. Between expanding the surgery center and buying half ownership of the orthopedic group, SMC is spending $6.29 million. SMC also plans to spend more than $2.4 million to upgrade its physical plant at its main campus. The hospital originally budgeted for $2.4 million.
5. Trustee Dan Duncan claimed the new surgery center location is a stepping stone to determine if the hospital wants to grow into a larger space.