Montecito Medical Acquires Two More Healthcare Facilities in Texas

Montecito Medical, which holds a portfolio of medical office properties throughout the country, has completed the acquisition of two northeast Texas medical office properties occupied by a regional leader in spine and pain management. The two properties, located in Tyler and Texarkana respectively, are fully leased to Precision Spine Care. The Tyler facility, which serves as the group’s flagship location, encompasses 28,218 rentable square feet. Its counterpart in Texarkana offers just under 11,600 square feet and includes a new ambulatory surgery center. Precision Spine, which serves patients from parts of the Dallas area to southwest Arkansas, is one of the few spine and pain management practices in northeast Texas — and the only one with offices across the region, with facilities also located in Lufkin, Longview, Frisco and Mount Pleasant. In addition to spine and pain management specialists, the multidisciplinary team of providers within the group includes physician assistants, physical therapists, RNs and medical assistants. Among the procedures performed at the clinics are x-ray-guided epidural injections, facet blocks, radio frequency ablation, disc decompression, spinal cord stimulation and ultrasound-guided procedures. The group’s physicians can perform many surgical procedures at the clinics on a same-day, outpatient basis. The Precision Spine acquisitions represent further expansion in Texas by Montecito. Over the past six months, the company has purchased medical properties in Corpus Christi and in the Dallas and Houston areas, with several other acquisitions in the state currently slated to close during the first quarter of 2021.