1. Legislators in several states are considering certificate of need (CON) reform over the next year. According to a recent article, legislators in Alabama, North Carolina and Tennessee are considering a complete repeal of their CON laws.
  2. Ascension Saint Thomas announced more than $537M in capital investments to improve medical facilities across Middle Tennessee. The investments include updates and expansions to existing hospitals as well as new construction of hospitals and freestanding EDs.
  3. MOB investments surged to $2.7B in Q3 according to a CBRE report. Investment volume has increased 27% quarter-over-quarter. The average sale price reached $298 per square foot, with cap rates averaging 7.0%. Meanwhile, average rents held at a record-high $25.20 per square foot amid steady demand.
  4. Denny Sanford has agreed to make a $300M gift to Sanford Health. The gift will be used to fund a portion of the new $500M Black Hills Medical Center that is being planned in Rapid City, South Dakota. The 480,000-sf medical center will include 168 inpatient beds, an emergency department, surgical suites, a dialysis center, an oncology center and children’s services.
  5. Sutter Health announced plans for a new flagship medical center in Santa Clara, California. The eight-story medical center will include 272 inpatient beds and is part of Sutter’s $2.8B plan to expand health care access in Silicon Valley.
  6. St. Louis Children’s Hospital announced plans to build a 134,000-sf pediatric outpatient facility in Wentzville, Missouri. The project is a collaboration with Washington University Medicine. Wentzville has seen a 47% increase in population since 2013.
  7. Andrews Sports Medicine has secured a lease for a new $110M sports medicine and orthopedic center near Birmingham, Alabama. The project will be located in a former retail building that will be repurposed for outpatient medical and surgical services.
  8. Tampa General Hospital has announced plans to take over operations of DeSoto Memorial Hospital in Arcadia, Florida, under a 49-year lease. Under the agreement, Tampa General will agree to invest $49M into the hospital.
  9. A former hospital site in Benton Harbor, Michigan, will be redeveloped into workforce housing. The $27M project will include 77 homes, a new childcare facility and will be funded by a public-private partnership involving the Whirlpool Foundation, a Michigan housing agency and Habitat for Humanity.
  10. A behavioral health operator has received the necessary zoning approvals to convert a Holiday Inn hotel in Colorado Springs, Colorado, into a 130-bed addiction recovery center.

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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.

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