Hospitals Team Up with Developers to Expand

Aug. 1, 2003
Many market segments have plunged over the last few years, but the hospital construction and renovation market has continued to thrive. After posting a 17% gain in 2002, the health-care market could experience a 2.9% increase this year, according to Dodge, a provider of construction information. With the aging of the baby boomer generation and the greater need for health-care, hospitals are now looking

Many market segments have plunged over the last few years, but the hospital construction and renovation market has continued to thrive. After posting a 17% gain in 2002, the health-care market could experience a 2.9% increase this year, according to Dodge, a provider of construction information. With the aging of the baby boomer generation and the greater need for health-care, hospitals are now looking for ways to expand. Rather than funding the expansion, however, some hospitals are now teaming up with developers to pay for construction costs. In this arrangement, the developers pay for the construction of the new building, and the hospitals sign a long-term lease. The partnership allows the hospitals to provide new products and services to their clients without tying up cash in the construction of new surgery centers, medical office buildings, or wellness centers.

About the Author

EC&M Staff

Voice your opinion!

To join the conversation, and become an exclusive member of EC&M, create an account today!

Sponsored Recommendations

Electrical Conduit Comparison Chart

CHAMPION FIBERGLASS electrical conduit is a lightweight, durable option that provides lasting savings when compared to other materials. Compare electrical conduit types including...

Fiberglass Electrical Conduit Chemical Resistance Chart

This information is provided solely as a guide since it is impossible to anticipate all individual site conditions. For specific applications which are not covered in this guide...

Considerations for Direct Burial Conduit

Installation type plays a key role in the type of conduit selected for electrical systems in industrial construction projects. Above ground, below ground, direct buried, encased...

How to Calculate Labor Costs

Most important to accurately estimating labor costs is knowing the approximate hours required for project completion. Learn how to calculate electrical labor cost.