AMBULATORY SURGERY CENTER (“ASC”) – BUSINESS VALUATION EXPERIENCE
Physicians Health Choice, LLC (“Physicians Health Choice, LLC”) was established on October 28, 2013 as a limited liability company (LLC), and files a Federal form 1065 Partnership income tax return with the Internal Revenue Service (IRS) annually. The origins of Physicians Health Choice, LLC originated back during 2013, and operates at Orchard Surgical Center, which is a local State-of-the-Art, multi-specialty surgical center.
This ambulatory surgery center opened in 2015, and has performed more than 20,000 surgical procedures since 2015. Orchard Surgical offers the newest in surgical options. The Board-Certified Surgeons choose to work in the facility, where they can provide the highest quality care in a personalized, healthy environment. Physician Health Choice LLC. Foxboro Consulting Group, Inc. valuation specialists determined The Fair Value of a 5.0% ownership interest in the LLC for member buy-out purposes.
Bedford Ambulatory Surgical Center, LLC
Foxboro Consulting Group, Inc. performed certain valuation procedures to estimate 42.5926% of the Members’ Equity on a Basis of Fair Value & Fair Market Value for the Bedford Ambulatory Surgical Center, LLC (the “Bedford Ambulatory Surgical Center” or the “Ambulatory Surgery Center”) as of the period ended October 31, 2024, for Member equity buy-out purposes.
The Bedford Ambulatory Surgical Center (BASC) is a multi-specialty ambulatory surgical center that was incorporated and open for operations in April of 1993. The Company was a S Corp owned 100% by physicians and non-physician management. The Company’s mission is to provide affordable, convenient, and compassionate outpatient care to the residents of the Greater Manchester, NH community. On August 16, 2000, the physicians chose to partner with a local hospital, Catholic Medical Center. BASC Inc. was converted to Physicians Select Healthcare, and Catholic Medical Center formed a subsidiary called Alliance Ambulatory Services, Inc.
The Bedford Ambulatory Surgical Center was converted to an LLC, owned 50% by Physicians Select Healthcare, and 50% by Alliance Ambulatory Services. Foxboro Consulting Group, Inc, participated in the negotiations, and provided financial advisory services, as part of the Member’s equity buy-out transaction.
Plymouth 1620 ASC LLC
Foxboro Consulting Group, Inc. provided a Valuation of Plymouth 1620 ASC LLC – 16.667% Members’ Equity & Related Real Estate Appraisal of the Land and Building located at 43 Resnik Road, Plymouth, MA., which was being Leased to an Ambulatory Surgery Center. The purpose of expressing an opinion of the fair market value of a 16.667% Member’s Marketable/Control Interest Ownership Basis of Value in the Plymouth 1620 ASC LLC, (a Massachusetts limited liability company), as of the valuation date, and date of the ambulatory surgery center facility site inspection. The Appraisal Report provided support for the “fair value” (also “Agreed Value”) of a 16.667% Member’s Marketable/Control Interest Ownership Basis of Value for Member’s equity for equity redemption/ buyout purposes.
Pilgrim ASC LLC (the “ASC”)
16.667% Member’s Equity Value in the ASC at Fair Value - $642,957 on a Marketable/ Control Interest Ownership Basis of Value – No discounts. Foxboro Consulting Group, Inc. provided a Restricted Appraisal Report to estimate a 16.667% Member’s Equity on a Basis of Fair Value for the Pilgrim ASC LLC (the “Pilgrim ASC” or the “Ambulatory Surgery Center”) as of the year ended December 31, 2025.
This determination was based on a three (3) phase process: 1.) determine the fair value of the Beth Israel and Lahey Health Surgery Center Plymouth LLC (the “Joint Venture”); 2.) determine the fair value of Pilgrim ASC LLC’s a 49.0% interest of the Joint Venture; and 3.) determine the fair value of a physician’s 16.667% ownership interest in Pilgrim ASC LLC exclusive of discounts for minority interest and discount for lack of marketability, and inclusive of a 30.0% “Adverse Redemption Adjustment” related to a marital dissolution, which is adjusted to net present value at the December 31, 2025 with a 0.8889 net present value adjustment factor.
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