Dallas-based Market Center Management Co. Suspends Nashville Plans

Dallas-based developer Market Center Management Co. has suspended plans for its Nashville Medical Trade Center project. It announced the news in a statement from CEO Bill Winsor. It read, in part: “I have been in the trade center business for more than three decades, and I was never more enthusiastic about a trade center concept. The idea was bold, the location was advantageous, the design was compelling, and our team worked diligently to make it a reality. We were always met with enthusiasm by companies and organizations, and we were joined by partners with the foresight to offer durable benefits… Full Story

Boutique Private Equity Firm HealthCap Thrives on Niche Players, Sector’s Uncertainty

In May, Dallas-based HealthCap, a boutique private equity firm specializing in healthcare, merged with The Cirrus Group, also based in Dallas, and one of the nation’s biggest medical building developers. In June, HealthCap provided the funding to create Atlanta-based Restora Healthcare Holdings to purchase Trillium Specialty Hospitals of Phoenix, Ariz., as a foundation to become a major player in long-term acute care hospitals (LTAC). The deal involved buying Trillium’s real estate. According to HealthCap’s managing partner Jason Dodd, those two deals were absolutely  linked. “We were able to solve a total transaction because of Cirrus. Neither (HealthCap nor Cirrus) would have been… Full Story

Tenet Poised to Purchase California Hospital

Dallas-based Tenet Healthcare Corp. is in negotiations purchase Emanuel Medical Center, a 209-bed church-owned hospital in Turlock, reports the Modesto Bee. This would allow Tenet to expand its base in the Northern San Joaquin Valley. Currently, 11 of the company’s 49 hospitals are in California, including Doctors Medical Center in Modesto and Doctors Hospital of Manteca. If the transaction does go through, it will not include the 145-bed Brandel Manor nursing home and a 49-bed assisted living center with ties to Emanuel that the church would continue to operate. Services such as the maternity center, a cancer treatment center operated… Full Story

CREW Panel: Changes in Healthcare Creating Real Estate Opportunities

The Dallas chapter of Commercial Real Estate Women hosted a panel discussion yesterday to talk about the fast-evolving healthcare industry and how to take advantages of opportunities. The panelists included Angel Benschneider, senior vice president of Caddis Partners; Kathy de la Vergne, co-founder and president of Prevarian Senior Living; Tina Larsen, vice president of Corgan Associates; Holly Ragan, director healthcare planning and design with UT Southwestern Medical Center; and Maxine Lawyer (moderator), partner-in-charge of medical and healthcare services for Weaver LLP. Here are some of the updates they shared: UT Southwestern is planning to open new neighborhood clinical spaces, Ragan said. The first satellite clinic… Full Story

Bracing for the Next Storm

Lessons learned in a crisis should not go to waste. In fact, the source of the next round of code and safety measure upgrades often comes from the previous round of disasters. Disasters during the early 1900’s in San Francisco, Chicago, and New York were the basis for the nation’s first earthquake, fire, and high-rise construction codes. In light of recent weather events, the topic of “storm hardening” critical facilities has been a topic of interest among our Healthcare Group. Storm hardening, or building-in protection against high-weather damage, has become an increasing priority for many of our healthcare and critical… Full Story

Parkland Psychiatric Ward Reopens After Renovations

Patients have returned to an upgraded psychiatric emergency department today at Parkland Memorial Hospital, following a month-long renovation. The observation facility doubled in size, from 595 square feet to 1,197 square feet. As part of renovation, there was a reduction in the number of seclusion rooms. In first half of 2011, the average seclusion rate was 15.2 percent. The average for the past three months is now 0.69 percent; more than a 95 percent decrease. Patients also have access to areas where they can enjoy quiet time away from others but are still in an open, safe environment. “The improvements… Full Story

Tenet Announces $67 Million Expansion of Sierra Providence in El Paso

Dallas-based Tenet Healthcare  has announced a $67 million addition to Sierra Providence East Medical Center, with construction beginning in December 2012. “We are excited to be expanding our hospital after only four years,” said Sally Hurt, the hospital’s CEO, in a statement. “Since we opened our doors in 2008, an increasing number of patients have trusted us with their medical needs. We are proud to be a provider of choice and we look forward to increasing our capacity of care, enhancing our services and bringing new jobs to our community.” The El Paso upgrade will total more than 145,000 square feet,… Full Story

Morning Rounds (09.12.12)

Beginning Oct. 1, a penalty of up to 1 percent for readmissions related to acute myocardial infarction, heart failure, and pneumonia will be set to impact hospitals in 2013 with the percentage increasing to up to 3 percent into 2015. The Medicare Payment Advisory Commission has identified ways to avoid the penalty.

Construction has begun on The Forney Emergency Center and Medical Office Building, the second phase of Forney Medical Plaza. The expansion will add 5,000 square feet of medical office space, and a 13,248-square-foot Forney Emergency Center.

According to the American Heart Association, heart attack victims who take common painkillers, such as ibuprofen, naproxen, and prescription drugs such as Celebrex, run the risk of suffering a second heart attack as well as an increased chance of death.

Just 6.7 percent of medical students are African-American, and just 7.5 percent are Hispanic. To help change those stats, the AHA has teamed up with Macy’s to offer 16 scholarships to minority medical students.

 

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Expansion of Forney Medical Plaza Under Way

PM Realty has broken ground on phase II of  Forney Medical Plaza along East Hwy. 80 at F.M. 548 and Broad Street. The expansion includes 5,000 square feet of medical office space and a 13,248-square-foot emergency room. The project is slated for completion early next year, at which time Lake Pointe Health Network will take over operations. WB Kibler is serving as the general contractor and GSR Andrade is the project’s architect. “Growing population trends in urban and suburban communities, where patients are seeking convenient care closer to home, without the difficulties and time required to go to a traditional hospital emergency room,… Full Story

How ACA Will Change the Business of Real Estate

The recent Supreme Court ruling affirming the Affordable Care Act placed an emphatic exclamation point on what many already know: healthcare is changing in profound and fundamental ways. Less-known, but no less relevant for real estate executive focused on healthcare, is that important changes are also impacting healthcare real estate. This inaugural contribution to D Healthcare Daily addresses these trends. The first key theme is expansion. Under the ACA, many millions of previously under-served patients will now enter the healthcare market. The Centers for Medicare and Medicaid Services (“CMS”) projects that national health expenditures will rise to $3.5 trillion in… Full Story