FLAGSHIP HEALTHCARE TRUST ACQUIRES SURGERY CENTER IN LECANTO, FLORIDA

CHARLOTTE, N.C.— Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, is pleased to announce the acquisition of the Class A, 100% leased, Citrus Surgery Center in Lecanto, Florida.

Located at 110 North Lecanto Highway, the 11,312 square-foot multispecialty ambulatory surgery center (ASC) features four operating rooms and one procedure room. The property is home to the area’s leading outpatient surgical provider, Citrus Surgery Center, an affiliate of Surgical Care Affiliates (SCA Health).  SCA Health is a national surgical solutions provider committed to improving healthcare in America.  Citrus Surgery Center is accredited by the Accreditation Association for Ambulatory Health Care and is strategically located in a strong medical corridor near the region’s main hospital systems:  HCA Florida Citrus Hospital and Bravera Health Seven Rivers.

“The Citrus Surgery Center is a leading provider of outpatient surgical care in Lecanto and the surrounding communities, and we will continue the charge to maintain a state-of-the-art facility that enables it to pursue its mission of providing the highest quality care,” said Flagship’s Executive Vice President of Acquisitions Gerald Quattlebaum. “Due to its continued population growth and robust medical sector, Lecanto was the perfect market to expand our Florida presence.”

“We are excited about acquiring this high-quality, multispecialty surgery center in a growing market anchored by trusted providers and a national ASC operator, in partnership, as our long-term tenant,” said Blake Bratcher, Flagship’s Executive Vice President of Ambulatory Surgery Centers.  “Ambulatory surgery centers are at the forefront of transformation in health care delivery, and we are continuing to capitalize on new opportunities in alignment with physicians and surgery center operators to help them maximize their real estate so they can carry out their mission more effectively.”

Flagship acquired the ASC through its private real estate investment trust, Flagship Healthcare Trust (Flagship REIT). As the new owner of the buildings, Flagship will provide property management and asset management services. Financing for the acquisition was provided by Atlantic Union Bank.