- Walmart Health announced plans to close all 51 of their health care clinics and virtual health care operations, citing a lack of profitability. A Walmart spokesperson said, “Health care is expensive to run. We were finding that the increased labor and operating costs environment, like with reimbursement, both public and private, made it difficult [to run the business] and obvious we had to close.”
- The Oakland Athletics will play ball at the newly named Sutter Health Park for the next two years. This is the first time a major league sports franchise will be playing at a venue named after a hospital or health system.
- Modern Healthcare published an article on why Nashville is a hub for health care providers. Key Takeaways: 1) 900 health care-related companies call Nashville home; 2) health care companies employ 330K workers in the area; and 3) because of the large pool of health care employers, companies find it easier to recruit talent and share ideas.
- Tenet Healthcare announced a strong first quarter after investing $449M in 45 new ambulatory surgery centers. The health system is planning to invest more money in acquiring and investing in surgery centers. Tenet owns 52 hospitals and 640 other facilities, including surgery centers and outpatient facilities.
- Hall Render launched a new weekly publication covering health care private equity transactions. To receive the publication via email, sign up here.
- Revista published an overview of the Columbus, Ohio outpatient market. From 2021 through 2023, 1.3M sf of new outpatient space was developed and occupancy remained strong at 91.8%. The most active developers in the market have been Daimler and Hammes Partners.
- CVS Health has invested $19.2M in an affordable housing development in Arvada, Colorado that is designed for residents experiencing homelessness. Vouchers for education and support services will be offered to help occupants remain in stabilized housing.
- OhioHealth announced a $400M expansion of Grant Medical Center in Columbus, Ohio. The project will include an emergency department, ambulatory facility and trauma center.
- UK Health broke ground on a new 550K sf cancer treatment and comprehensive spine facility in Lexington, Kentucky. The project will offer ambulatory surgery and outpatient services.
- AdventHealth Avista announced plans for a new hospital located in the Redtail Ridge development in Louisville, Colorado. Details on the scope of the project haven’t been announced.
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.
