by Hayley DeSilva
Penn Medicine, Independence Blue Cross and Regent Surgical are forming a company and plan to build and operate at least 18 ambulatory surgery centers.
The facilities will be located in Penn Medicine’s service area of Pennsylvania, New Jersey and Delaware. The first one is expected to open next year, a spokesperson said Friday. A timeline for when all facilities will be complete has not been announced.
The venture will be structured as a for-profit company. Additional details were still being finalized, a spokesperson said. Regulatory approvals, market conditions and community needs will factor into the decisions.
“The joint venture will be funded by equity from the three partners,” the spokesperson said. “Each partner is making a long-term investment to support the growth and expansion of ASCs throughout the region.”
Philadelphia-based Penn Medicine comprises the University of Pennsylvania Health System and the Raymond and Ruth Perelman School of Medicine.
Independence Blue Cross, an independent licensee of the Blue Cross and Blue Shield Association, has an estimated 3.1 million members across Pennsylvania, New Jersey and Delaware.
Regent Surgical operates more than 25 ambulatory surgery centers across multiple states in partnership with hospitals and health systems.