- Tenet Health has sold 14 hospitals this year for more than $4.8B, according to its third-quarter earnings call. Tenet sold the following: 1) an interest in five Alabama hospitals to Orlando Health, 2) three hospitals in South Carolina to Novant Health, 3) four California hospitals to UCI Health, and 4) two California hospitals to Advent Health. The sale proceeds are being used to deleverage Tenet’s portfolio and to invest in USPI, Tenet’s ASC company.
- CareTrust REIT, through a joint venture, announced plans to acquire 31 skilled nursing facilities for nearly $500M. Thirty of the facilities are in Tennessee, and one is located in Alabama.
- The University of South Carolina announced plans for a $350M neurological hospital to be located in Columbia, SC. The hospital will focus on treating brain diseases and neurological conditions and will be the first of its kind in the state.
- MD Anderson announced plans to develop a new $239M research facility in Houston near the Texas Medical Center. The facility will include office and lab space focused on preclinical research.
- Hall Render is hosting a webinar on Antitrust Enforcement in Provider Mergers on Thursday, November 14. Sign up for the webinar here.
- Hartford Healthcare and Yale New Haven Health System have broken ground on a $75M proton therapy center in Wallingford, CT. Once completed, it will be the first proton therapy center in Connecticut.
- Two freestanding emergency departments were approved by Tennessee Certificate of Need (CON) authorities; both will be located in White House, TN. One will be operated by HCA Healthcare’s Tristar division, and the other by a joint venture between Ascension Saint Thomas and Lifepoint Health.
- The San Jose (CA) Planning Commission has taken action to deny HCA Healthcare’s plans to expand Good Samaritan Hospital by 1M square feet, citing concerns with HCA’s history of closing hospitals that are no longer profitable.
- New data from NORC suggests that seniors with annual incomes between $26K and $103K, called the “forgotten middle,” are struggling to find affordable senior housing. This group could total 16M people by 2033. NORC is calling on the public and private sectors to find innovative solutions to address the shortage in affordable senior housing for this group.
- CVS Health will be expanding primary care services to Aetna members at several of its MinuteClinics. CVS operates nearly 1,100 MinuteClinics across the country.
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.
