- Steward Health Care plans to sell its physician group to Optum. The health system has struggled financially and believes the sale will provide much-needed cash for the health system. Steward’s physician group operates in nine states.
- Georgia lawmakers have tentatively agreed on a plan to provide several exceptions to the state’s Certificate of Need (CON) law for certain hospital projects. The bill, if signed by the Governor, will allow a hospital to open in a rural community where a prior hospital has been closed for more than 12 months. It would also allow the Morehouse School of Medicine to open a hospital in central Atlanta where Atlanta Medical Center once operated.
- VMG Health published its Healthcare Utilization Predictions for 2024. Key takeaways: 1) increased health care utilization will continue throughout the year; 2) utilization of otolaryngology, orthopedics and urology services will be especially strong; and 3) acute care providers will continue to recover from the effects of the pandemic as a result of increased utilization.
- Revista published its 2024 Outpatient Development Report. The top two developers in 2023 were Hammes Partners with 16 outpatient developments and Rendina Healthcare Real Estate with 11 projects. In 2023, 31M sf of outpatient projects were started or completed. About 60% were self-developed, while 40% of those projects were developed by a third party.
- HealthCare Appraisers published its 2024 Outlook for Imaging Centers and Radiology Practices. Key takeaways: 1) the imaging market generates more than $100B in revenue per year; 2) price transparency and payor policies are causing more imaging procedures to be performed in an outpatient setting; and 3) about half of the imaging volume is performed in an outpatient setting and the other half within hospitals.
- Hall Render is hosting a Health Care Regulatory Updates webinar on April 4. Learn more and register for this webinar here.
- AdventHealth announced plans for a new $254M full-service hospital campus in Weaverville (near Ashville), North Carolina.
- Health First (FL) broke ground on a new $410M hospital campus in Merritt Island, Florida. The project will include a new hospital, parking garage and medical outpatient building.
- CHI Memorial (TN) broke ground on a new $126M hospital campus in Ringgold, Georgia.
- A new 82-unit apartment complex opened in Cleveland, Ohio near Cleveland Clinic’s main campus. Cleveland Clinic supported the project by assisting with site acquisition and by making a $10M investment. The project is designed to provide affordable housing for clinical workers at the hospital and other members of the community.
For more information on real estate matters, please contact:
- Andrew Dick at adick@hallrender.com or (317) 977-1491;
- Joel Swider at jswider@hallrender.com or (317) 429-3638; or
- Your primary Hall Render contact.
Hall Render blog posts and articles are intended for informational purposes only. For ethical reasons, Hall Render attorneys cannot give legal advice outside of an attorney-client relationship.
