Spectrum Healthcare spinning off division, half of which may be acquired for $16M
Photo / William Hall
The outpatient surgery center for Spectrum Orthopaedics is at 33 Sewall St. in Portland.
A group of physicians from one of southern Maine's largest outpatient health care providers is going independent, with a new name and potentially a new co-owner from outside the state.
Spectrum Orthopaedics, a 12-doctor, 150-employee division of Spectrum Healthcare Partners, plans to reorganize as a separate provider, according to documents filed with the Maine Department of Health and Human Services.
The new practice, to be known as Clarion View Partners, would retain ownership of an ambulatory surgery center at 33 Sewall St. in Portland. The 12,000-square-foot facility is part of a 37,000-square-foot complex of Spectrum Healthcare offices and clinics there, off Congress Street in the Libbytown neighborhood.
Once the reorg is complete, the orthopedics practice would sell a 50% stake in its ownership to a Florida management organization, Growth Orthopedics Services Parent LLC, for $16 million. That company would handle much of the administration work that the Maine parent company, Spectrum Healthcare Partners, currently performs.
Growth Orthopedics, based in Coral Gables, Fla., also manages similar orthopedic practices in Lexington, Ky., and Lakeland, Texas.
The potential sale requires a certificate of need from DHHS, which prompted the practice to submit an application for one earlier this year. The department gave it a conditional green light on Oct. 28.
Dr. Kathryn Hanna, a hand surgeon who is managing director of Spectrum Orthopaedics, wouldn't discuss the pending changes but told Mainebiz more information would be coming in weeks ahead.
Despite a potential co-owner in Florida, she downplayed the prospect of change for Maine patients. "The goal is to keep health care local, the way it has been," she said.
The potential change-up comes four years after Spectrum Healthcare Partners launched Spectrum Orthopaedics — the merger of several orthopedic practices, including OA Centers for Orthopaedics and Maine Orthopaedics Center.
Spectrum Orthopaedics also treats patients at offices of the parent health care provider in Brunswick and Windham. It's not immediately clear how the reorganization might affect those offices.
The parent, Spectrum Healthcare Partners, says it is Maine’s largest multispecialty, physician-owned professional organization, with more than 200 doctors practicing in the specialties of anesthesiology, orthopedics, pain management, pathology, radiation oncology, radiology, and vascular and interventional radiology.
The new name of the orthopedic practice, Clarion View Partners, doesn't appear to be promoted much yet. It's not clear what the inspiration for the identity is, but geography may offer a clue. The ambulatory surgery center on Sewall Street is within clear view of the Clarion Hotel Portland, two blocks away.
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