Tustin-based MemorialCare Medical Foundation’s Beach Surgical Holdings LLC last week acquired a 51% stake in Laguna Hills-based Digestive Disease Center.
Financial terms of the deal weren’t disclosed.
Beach Surgical was created in February when the foundation entered a joint venture with Birmingham, Ala.-based Surgical Care Affiliates LLC.
The foundation is the medical group division of the $2 billion nonprofit MemorialCare Health System, which now is based in Fountain Valley but plans to move to Costa Mesa later this year.
Digestive Disease Center is near MemorialCare’s Saddleback Memorial Medical Center. It has five board-certified, fellowship-trained gastroenterologists and treats conditions such as colon cancer, irritable bowel syndrome, liver diseases and gastroesophageal reflux disease.
The foundation said in a news release that the remaining 49% interest in the center is owned by the doctors and Irvine-based Monarch HealthCare.
—Vita Reed
