- In a recent interview, Alison Flynn Gaffney, CEO of two Banner Health hospitals, discussed how she applies a real estate perspective to hospital leadership. Prior to becoming CEO, she spent two years as president of the health care division at JLL, which imparted a unique perspective on leveraging hospital real estate portfolios for the benefit of the hospital mission.
- The number of health care private equity deals rose 9.5% in 2025, with an estimated 747 deals announced or closed in the U.S. and Canada, up from 682 in 2024. Among the most popular transaction types involved ASCs, while skilled nursing deals also increased 143% and specialty pharmacy deals rose 138%.
- Hall Render attorney Joel Swider was recently featured in a Bisnow article on the ways hospital financial pressures may impact real estate strategy. Medicaid cuts, the expiration of ACA subsidies and a freeze on Medicare Advantage payments have resulted in many hospitals considering sale-leaseback transactions, property sales and alternative financing structures.
- A recent article reported that health care real estate in the Dallas-Fort Worth area is positioned for continued growth in 2026, fueled by population gains and shifting care delivery models. The North Texas market has been propelled by national trends, including a 45% increase in outpatient revenue since 2020 and an average MOB occupancy rate above 92% in 2025.
- Kaiser Permanente and Risant Health reported $127.7B in operating revenue and $1.4B in operating income for 2025 (a 1.1% margin). Capital spending increased from $3.7B in 2024 to $4.8B in 2025, across 55 hospitals and 847 medical offices. Risant Health is a nonprofit created by Kaiser to acquire and support community‑based health systems and accelerate the adoption of value‑based care while maintaining local governance.
- Advocate Health announced it will invest an additional $1M into A Home For All to address homelessness and housing instability in Charlotte, NC. This builds on $21M already committed since 2019, including 14 acres of land for affordable housing.
- Penn Medicine signed a long-term lease for 40,000 sf in Wilmington, DE, marking its first Delaware location. The leased space is intended for primary and diagnostic care, rather than a previously proposed imaging center.
- Novant Health’s board of trustees approved a $1B, 5-to-7-year master plan for New Hanover Regional Medical Center. The plan includes a new heart and vascular patient tower, an 80,000‑sf heart and vascular medical office building and a 60‑room rehabilitation hospital.
- Rogers Behavioral Health obtained approval for a new mental health hospital in Chippewa Falls, WI, which also recently received a $10M public contribution, with total project costs north of $16M. The project will be located on 18 acres and is expected to feature 24 inpatient beds and 24 residential rooms.
- Tufts Medicine is set to open its long-planned behavioral health hospital in Malden, MA, which was first announced in 2022 as a joint venture with Acadia. The $65M project includes 144 behavioral health beds, including outpatient and inpatient care.
For more information, 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—outside of an attorney-client relationship—answer specific questions that would be legal advice.
