Caddis acquires South Carolina surgery center — its first owned property in the state
Caddis closed on the acquisition of its first owned property in South Carolina: the 19,728 square foot Outpatient Surgery Center of Hilton Head in the iconic, Lowcountry island town roughly 20 miles northeast of Savannah, Ga.
The one-story, freestanding ambulatory surgery center (ASC), located at 190 Pembroke Drive, is 100 percent occupied under a long-term lease to a joint venture of Surgical Care Affiliates, Inc. (SCA) and local physicians who perform procedures at the facility. SCA, which is headquartered in Deerfield, Ill., is one of the largest operators of ASCs in the country, with more than 200 surgical facilities in partnership with approximately 3,000 physicians.
“The Outpatient Surgery Center of Hilton Head is our first acquisition in South Carolina and fits into our overall portfolio and company strategy,” says Jason Signor, Caddis CEO and Partner. “This acquisition enables us to further expand our footprint in the Southeast United States.”
“The Outpatient Surgery Center of Hilton Head is a reputable, multi-specialty ASC with strong and growing physician support,” says Matt Mattox, Caddis Executive Vice President and Partner. “Hilton Head Island is a true barrier to entry market not only from a real estate point of view but also from a healthcare services one, given South Carolina’s Certificate of Need (CON) requirements for capital intensive projects including ASCs.”
The Outpatient Surgery Center of Hilton Head houses four operating rooms, two endoscopy suites and two procedure rooms, as well as pre- and post-operation containment areas. The facility provides a wide range of physician specialties, including gastroenterology, general surgery, obstetrics and gynecology, ophthalmology, orthopedic surgery, otolaryngology, pain/spine, plastic surgery, podiatry, and urology.