WellStar set to acquire cardiovascular practice Solaris
by Katy Ruth Camp
krcamp@mdjonline.com
October 12, 2011 12:06 AM | 2327 views | 2 2 comments | 13 13 recommendations | email to a friend | print
MARIETTA — WellStar Health System officials said on Monday that the system will likely finalize a $16 million to $20 million deal to purchase Solaris Heart & Vascular physicians group on Nov. 1.

“Having these physicians as a part of our WellStar team will strengthen our high-quality cardiac network and enable WellStar to enhance its patient care,” said Dr. Barry Mangel, chief cardiology officer of WellStar. “It is a win-win for WellStar and our community.”

WellStar spokesman Keith Bowermaster said the company has been working for about a year to acquire Solaris, a cardiovascular medical group with locations in Marietta and Woodstock, though he said WellStar and Solaris have been working together for the last 2½ years on clinical projects.

Bowermaster said Solaris Heart & Vascular would dissolve and the group’s nine physicians — Antonio Baute, Wm. Michael Brown, Paul Guichard, Dennis Incorvati, Salvatore Mannino, Dhaval Patel, Bryan Piedad, David Zimmerman and Amy Elsass — would join WellStar Medical Group, Cardiovascular Medicine.

“We are excited about the opportunity to join WellStar Medical Group,” said Brown, who is also president of Solaris. “This partnership aligns our visions to provide world-class health care by setting the standard of quality and recognized leadership for the future of regional cardiovascular care.”

Bowermaster said WellStar and Solaris officials have not finalized the acquisition costs, but the $16 million to $20 million figure includes approximately $10 million for the purchase of the Solaris building at 355 Tower Road in Marietta, near WellStar Kennestone Hospital.

Solaris also has an office in Woodstock, located at 120 Stonebridge Parkway in Suite 440. Bowermaster said Solaris leases that building, so no purchase is necessary. Bowermaster did not say if the Woodstock location would remain open.

“Federal law prohibits health care systems from paying more than fair market value to acquire a physician’s practice and related assets,” Bowermaster said. “A respected, independent, third-party appraisal company was consulted to prepare a fair market value analysis of the practice and its assets. Once the closings occur, WellStar will retain the current equipment.”

On its website, Solaris describes itself as a physician-owned, full-service cardiovascular medical practice has served the area for 29 years.

The WellStar Board of Directors voted unanimously in August to sign a letter of intent with Solaris to join the 350-doctor group.

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Follow Katy Ruth Camp on Twitter at twitter.com/KatyRuthC.
Comments
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No concern
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October 17, 2011
To price

Since Wellstar has not answered your question, I will.

You can call your insurance company and ask for a new physician directory be mailed to you and also ask about a particular doctor status with insurance company. In most cases, this is a non issue. You can continue to see physician. The physician just bills under a different tax identification number, that's all. Wellstar has contracts with every major insurance carrier, I can assure you. They don't want to lose your business.
price4977@att.net
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October 12, 2011
What will this mean for patients? Will we be able to keep our current physicians? Will the practice remain at its current location? I am most concerned.

Patrick Price
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