Timothy Geary, who co-founded National Surgery Centers and later sold it to HealthSouth Corp., is starting another company to compete in the market. Geary told Modern Healthcare's Daily Dose that his consulting arrangement with HealthSouth recently expired and he had received funding to launch a new firm. National Surgical Care, Chicago, will follow a business model similar to that of National Surgery Centers, he said. It will focus on acquiring existing facilities, developing new centers in partnership with hospitals and physicians, and converting existing centers into short-stay surgical hospitals. At present, the company has no facilities. Geary was chairman and CEO of 42-facility National Surgery Centers before it was sold to HealthSouth for $600 million in 1998. Rick Pence, who was COO of National Surgery Centers, will join Geary at the new company. J.P. Morgan Partnerscq and Brazos Private Equity Partners are funding the venture. HealthSouth recently announced plans to spin off its outpatient surgery center operations into a new publicly traded company, Surgical Care Affiliates. -- by Julie Piotrowksi
New surgery center company is born
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