Subsidiary Makes Pact With Medical Group
Minimally Invasive Surgery Corp. in Camarillo, through its subsidiary Chiu Minimally Invasive Spine Surgery Inc., has executed asset purchase and management services agreements with neurosurgeon Haq Babur and Eastern New Mexico Neuro Orthopedic Medical Group in Clovis, N. M.
Under terms of the agreements, the subsidiary is purchasing the assets of the practice and will manage the business and expansion through an exclusive long-term management agreement.
“The New Mexico transaction represents the first acquisition in our company’s strategic plan to [buy] neuro / orthopedic spine practices,” said Dr. John C. Chiu, Minimally Invasive Surgery chairman and CEO. “Several additional acquisitions are also under review . . . as part of a plan for overall regional and national growth.”
Minimally Invasive Surgery is involved in the development of a national network of spine surgery and pain management / rehabilitation centers.
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