USMD Holdings, Inc. (NASDAQ: USMD), a physician-led integrated healthcare system, announces that it has entered into a definitive agreement to sell most of its lithotripsy division to United Medical Systems (UMS), a leading provider of mobile medical equipment and services, including urology, women's health and MRI imaging, to hospitals, surgery centers and physician offices across the U.S., Canada and South America. This deal was finalized on December 18, 2015.
"Although the lithotripsy division has been an extremely valuable part of USMD Health System, this transaction allows USMD to focus on our efforts on continuing to deliver world-class, cost-effective healthcare to patients in our clinics, hospitals, and cancer treatment centers, and solidifying our position as one of the leading health systems in the DFW Metroplex," said John House, M.D., chief executive officer and chairman of the board, USMD Holdings, Inc.
"UMS is excited to add the USMD lithotripsy division to our line-up of mobile medical services," said Jorgen Madsen, president and chief executive officer, UMS. "We view this opportunity to expand our lithotripsy services as an important part of our commitment to continually offer our clients increased access to superior technology. The acquisition of USMD's lithotripsy division is a continuation of our mission to achieve a nationwide footprint for our transportable medical services. We are excited to welcome the USMD lithotripsy division to our family."
As further described by Mr. Madsen, "UMS's unique platform offers clients the appearance of a full-time, in-house program, without incurring the cost and burden associated with a fixed program. The turnkey solutions provided by UMS offer equipment delivery, setup, support and operation by its experienced medical imaging technologists, on a fee-for-service basis. UMS transports equipment into and out of the procedure suites on a daily basis and has performed more than 650,000 procedures in more than 850 medical facilities."
Prior to the acquisition, USMD had in excess of 20 lithotripsy ventures, in syndication, mobilizing 28 lithotripters in 10 states and performing more than 12,000 extracorporeal shock wave lithotripsy procedures annually. After the acquisition, USMD retained sixty percent of its ownership in Metro I Stone Management, Ltd., a Texas limited partnership which operates in the D/FW market.