This article is from Market Watch The Wall Street Journal
University General Health System, Inc. (otcqb:UGHS) (pinksheets:UGHS) ("University General" or "the Company"), a diversified, integrated multi-specialty health delivery system, today announced that it has entered into an agreement to acquire an ambulatory surgical center (the "ASC") in Baytown, Texas, the fourth-largest city in the Houston metropolitan area.
The ASC will be acquired for a seller's note and the assumption of certain equipment financing commitments. The closing of the acquisition is subject to certain conditions, including consent of certain third parties and licensure of the ASC, which is expected later this month. The center is expected to perform over 3,100 procedures during its first year of operations. Primary procedures at the ASC will include gastroenterology and pain management. The ASC will be co-managed with Jacinto Medical Group, P.A., a prominent multi-specialty group of physicians operating in Baytown.
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