- Philanthropy continues to be a source of funding used by nonprofit hospital systems for new building projects. Last week, Bruno Mars presented Intermountain Health with a $1M gift towards Intermountain’s Nevada Children’s Hospital that will be constructed in Las Vegas. Jackson Health Foundation recently raised $100M for a new emergency department project at Jackson Memorial Hospital in Miami.
- After Florida approved Certificate of Need reform, the state has seen tremendous growth in terms of new hospital projects. Florida is the home of 38 unique hospital systems. Since 2020, the state has added 49 hospitals and more than 3,000 beds. Population growth and an aging population are driving the demand for more hospital beds.
- Florida continues to make headlines in terms of the number of new free-standing emergency departments being developed across the state. The free-standing emergency departments are part of a larger hub and spoke model used by hospitals to establish a broader market presence. Ascension Sacred Heart recently announced the opening of its fourth free-standing emergency department in the Pensacola, Florida, market.
- JPS Health Network (TX) broke ground on a new $1.5B hospital project in Fort Worth, Texas. The project is part of a larger $2.5B master plan that includes a new primary care clinic and psychiatric emergency center.
- Hall Render recently hosted webinars on ASC Growth and Alignment Strategies and on Hospital Campus Development trends. To access the webinars, click here.
- Sila Realty Trust (NYSE: SILA), a health care real estate investment trust that owns hospitals and medical outpatient buildings, announced that it will be acquired by Blue Owl Capital (NYSE: OWL) for a purchase price that represents a 19% premium over Sila’s stock price on April 17.
- Novant Health (NC) has secured the necessary approvals to move forward with a new $346M hospital project in Wesley Chapel, North Carolina, which is a fast-growing suburb of Charlotte.
- Centerstone (TN) has opened a unique youth resiliency campus in Springfield, Missouri. The project includes a behavioral health crisis center, an outpatient treatment center and a residential treatment center serving individuals between the ages of 13 and 17. The project was funded, in part, by state, federal and local funding sources.
- Hackensack Meridian (NJ) announced a new 60,000-sf wellness center that will be located next to the Metropark train station in Woodbridge, New Jersey, which is the second-busiest train station in the country.
- Legislative bills in Missouri and Tennessee could change the health care landscape. A bill in Missouri would allow MU Health Care to operate in 25 rural counties in Central Missouri and would exempt the organization from antitrust laws. A bill in Tennessee would allow the termination of the Certificate of Public Advantage given to Ballad Health.
For additional information on this topic, 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 or Hall Render Advisory Services 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.
