IRA Capital Obtains Wisconsin Surgery Center

By HCO Staff

WAUWATOSA, Wis.—IRA Capital (IRA) has announced the acquisition of a multi-specialty ambulatory surgery center (ASC) comprising 11,200 square feet in Wauwatosa. The Property is 100% occupied by Wauwatosa Surgery Center, a partner of Surgical Care Affiliates (SCA). The Property has functioned as Wauwatosa Surgery Center’s exclusive location for over 30 years and provides various comprehensive outpatient services including anesthesiology, general surgery, and orthopedic surgery among many others. IRA acquired the property through a sale-leaseback that was structured with Surgical Care Affiliates and the physician owners of the Property.

The surgery center has four highly specialized operating rooms, multiple pre-op and post-op recovery areas, and patient suites that allow for overnight stay. The facility is strategically positioned a couple miles from Milwaukee Regional Medical Center, home to Milwaukee’s largest hospitals including Freodtert Health’s largest 516-bed hospital and only Level I Adult Trauma Center in the region. The Medical Center is also nationally recognized for having the Children’s Hospital of Wisconsin’s Level 1 Pediatric Trauma Center. The Medical Center also houses the Medical College of Wisconsin, the largest research center in the Milwaukee metropolitan area and the second-largest in Wisconsin.

Wauwatosa Surgery Center is operated by Surgical Care Affiliates, one of the largest providers of outpatient surgery in the United States and an operator of 230 ambulatory surgery centers in 35 states. Surgical Care Affiliates performs over 1 million procedures a year in partnership with approximately 3,500 physicians and 10,000 teammates.

IRA’s medical office strategy has included the acquisition of both single and multi-specialty ambulatory surgery centers across the country. IRA recently acquired four other surgery centers in the last 30 days. According to IRA partner and co-founder Samir Patel, “this transaction was of interest to IRA for various reasons, including the facility’s close proximity to Milwaukee Regional Medical Center and the long-standing track record and strong performance of the surgery center.”