Dallas-based Cobalt Medical Development is building a rehabilitation hospital in Central El Paso’s “Pill Hill.”
Cobalt, a healthcare, real estate development, and investment company that develops rehabilitation hospitals and senior citizen assisted-living centers, plans to create a 42-bed physical rehabilitation hospital in this under-served demographic area.
According to a news release, Cobalt’s $20 million project broke ground in December. The company will put up the two-story, 57,000-square-foot Cobalt Rehabilitation Hospital, located at 1700 E. Cliff Drive, across the street from The Hospitals of Providence’s Sierra hospital. Cobalt’s rehab hospital is being built on five acres of a 15-acre site purchased by Cobalt from GECU, an El Paso credit union.
Erik de Vries, co-founder and principal of Cobalt, says El Paso has a shortage of rehabilitation hospital beds and care centers. “El Paso has a great need for our state-of-the-art facility,” de Vries said in a statement.
Cobalt currently has three rehabilitation hospitals operating in Webster, Texas; Overland, Kan.; and Surprise, Ariz. In addition to the Cobalt hospital in El Paso, two other hospitals are under construction.
The Cobalt Rehabilitation Hospital is expected to open in December 2017.