doctor with stethoscope

Miami-based Cano Health announced the acquisition of fellow primary care provider Doctor’s Medical Center in a bid to grow its Medicare, Medicaid and Affordable Care Act (ACA) exchange memberships in South Florida.

The deal closed July 2 and ran Cano Health $300 million, $250 million of which the company said was financed by new debt.

Cano Health now controls DMC’s 18 medical centers located in Miami-Dade and Broward counties, the companies said, with 15 of these serving memberships dominated by adult and pediatric Medicaid members.

By combining with DMC, Cano Health said it will become “the largest independent value-based primary care provider to both Medicare and Medicaid patients” in the state of Florida.

“The DMC team has served the South Florida region for nearly 25 years, evolving its clinical platform to meet the diverse care needs of the community,” Marlow Hernandez, M.D., co-founder, CEO and chairman of Cano Health, said in a statement. “With DMC as part of the Cano Health family, we are bringing our care model to more patients and acquiring important footprint and infrastructure to further improve the clinical outcomes of underserved patients.”

Cano Health—which just recently joined the public markets through a $4.4 billion special purpose acquisition company merger—runs value-based primary care centers and provides support to other primary care practices treating senior patients. Active in Florida, Texas, Nevada and Puerto Rico, 80% of Cano Health’s populations are minorities, and 50% are dual-eligible for Medicare and Medicaid.

This week’s deal adds roughly 7,000 Medicare Advantage members, 31,000 Medicaid members and 14,000 ACA members to Cano Health’s business, which the provider said brings its total to about 197,000 members.

Of note, Cano Health stressed in its announcement that the deal will be a boon to its standing business with Humana. By expanding its reach and incorporating DMC’s specialized Medicaid medical centers, Cano Health said it will be able to provide greater services to the payer’s Medicaid members living in Florida.

“Cano Health’s focus on preventive care and wellness aligns with Humana Healthy Horizons and our ‘human care’ approach to serving our Medicaid members,” Humana Florida Medicaid President Jocelyn Chisholm Carter said in a statement. “Teaming with Cano Health, we continue to focus on making sure our members receive the full-service health care services they need in a welcoming environment.”

Cano Health’s deal comes hot on the heels of last month’s $600 million acquisition of University Health Care. That deal brought 13 Florida facilities and approximately 24,000 Medicare Advantage members under Cano Health’s purview.

Alongside news of the DMC deal, Cano Health shared new guidance on its 2021 and 2022 full-year financials.

Through the end of this year, the provider is projecting $1.5 billion in full-year revenue (an 80% year-over-year increase) and roughly $110 million in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). It anticipates its membership to land between 205,000 and 210,000 and its total number of medical centers (currently 106) to fall between 121 and 126 facilities.

In 2022, Cano Health believes it will reach full-year revenues of $2.23 billion and adjusted EBITDA of $150 million. It’s also aiming to reach 250,000 members and 180 medical centers by the end of that year.

 

Source:  Fierce Healthcare

lee health_estero medical office building_naplesdailynews

Lee Health continues to expand in Estero as it plans to open primary care medical offices near Hertz Arena in 2022.

The building would sit at the southern corner of Ben Hill Griffin and Everblades parkways as part of the Shoppes at University Highland development. Three other buildings, including a Starbucks and Stretchlab, make up the site.

Lee Health would lease a two-story building that is working its way through the Village of Estero application process. The developer is finalizing architectural plans before going before the Planning, Zoning and Design Board for approval. The Village Council will then take a final vote.

The office will be the first for Lee Health near Corkscrew Road and Ben Hill Griffin Parkway. The health care provider wants a location closer to Florida Gulf Coast University and the growing area, Little stated.

“As a community-owned health system, Lee Health is committed to meeting the health care needs of our growing community,” Little stated. “This facility brings access to high-quality primary care closer to people’s homes and strengthens our efforts to provide convenient outpatient services in the ever-evolving health care landscape.”

Lee Health will lease the building from SREG University Highlands LLC. The developer is making small adjustments to the design after receiving critiques from the Estero design board. The board said small changes were needed, including window ornamentation and possible wall decoration.

“We’re trying to make (the building) complimentary by matching the building colors and window styles,” said John Conroy of South Real Estate Group.

The development has entrances from Highland Oaks Drive and Ben Hill Griffin Parkway. A parking lot and outside landscaping is already in place. The four-building development began in 2017.

Lee Health Coconut Point opened in Estero less than three years ago, and the health care provider is looking to expand further into the Village.

“Given our region’s growth, both of these facilities will complement each other to meet the growing health care needs of the community,” Little stated. “Lee Health Coconut Point provides convenient access to quality care, and we aim to bring that same experience to other parts of our region.”

 

 

Source:  Naples Daily News

winter garden 760x320

A new medical office building is in the works for vacant land near a future hospital in Winter Garden.

Orlando-based Central Florida Pulmonary Group PA is the applicant for the planned 20,587-square-foot building at 1680 Marcel Drive, according to permits filed with the city of Winter Garden. City documents show the valuation of the project at $4 million.

The project requires city approvals before the start of construction.

Central Florida Pulmonary Group representatives could not be reached for comment.

The 1.5-acre parcel of land is owned by CF Pulmonary Real Estate Winter Garden LLC, an entity connected to CF Pulmonary.

Meanwhile, just 3.3 miles from that site, AdventHealth is building a 227,000-square-foot, five-story, 80-bed hospital patient tower that will convert the freestanding Winter Garden ER into a full-service hospital. That is expected to open next spring near the Winter Garden Village shopping center.

Founded in 1982, Central Florida Pulmonary Group has locations in downtown Orlando, east Orlando and Altamonte Springs. Its website lists 18 doctors and eight physician assistants and nurses.

 

Click here to read more about this story.

 

construction plans 760x320

A company controlled by the CEO of Boca Raton-based marketing and digital advertising company Worldata wants to rezone a property west of Delray Beach to build a medical office building.

Birchwood Group LLC, managed by Jay Schwedelson in Boca Raton, filed a text amendment application with Palm Beach County officials for the 3.61-acre site at 15445 S. State Road 7. The vacant parcel is located a few blocks south of Atlantic Avenue in the Agricultural Reserve, a mostly agricultural area that has been transitioning to residential and some commercial development.

The application seeks changes to the area’s land use that would permit 31,625 square feet of medical and dental offices on the site. The application says this would generate 985 vehicle trips.

 

Click here to read more about this story.

Gloria Drummond Patient Tower-Boca Raton Regional Hospital

Boca Raton Regional Hospital, part of Baptist Health South Florida, filed plans for a new patient tower.

The nonprofit hospital first unveiled plans for the Gloria Drummond Patient Tower in early 2019, when it announced the start of a $250 million capital campaign. The original plans called for 180,000 square feet in seven stories, but the building in the new application is significantly larger.

Under the proposed site plan, the Gloria Drummond Patient Tower at 800 Meadows Road would total 437,394 square feet in nine stories. It would include private patient rooms, surgical suites, space for staff, and space for graduate medical education.

BRRH also has a pending plan to build a medical office building on its campus.

 

Click here to read more about this story.

 

orange park medical center_330992_standard

Orange Park Medical Center announced March 9 that two floors of its 101,435-square-foot, five-story patient tower are open at its campus on Kingsley Avenue.

The fourth and fifth floors have 48 beds for medical and surgical patients, a news release said. The second and third floors are designed as shell space for expansion.

The patient tower brings the hospital’s bed count to 365.

The floors are part of a $126 million project that includes an electrophysiology lab, dining room, kitchen, medical office building and neonatal intensive care unit expansion.

The first floor of the patient tower, which includes outpatient testing, imaging, patient registration and shell space, opened in May. The cafeteria and kitchen opened in July.

OPMC will hire 100 people to staff the patient tower.

Charles Perry Partners Inc. was the general contractor. TMPartners, PLLC was the architect.

“Like many in our area we’re feeling the effects of the growth happening in Clay County,” Lisa Valentine, CEO at Orange Park Medical Center, said in the release. 

“With this growth comes the need to expand our team, our facility and our services to continue to rise to the needs of our community.”

The rooms are equipped with MyCare digital medical charting boards and a nurse call system, Apple TVs and high-speed internet. Doctors also can use the Apple TV to review lab results or images with patients.

 

Source:  Jacksonville Daily Record

Sweetwater’s Population Growth

Sweetwater has been experiencing very rapid population growth throughout the past decade, ranking as one of the fastest growing cities in the country. This represents a prime opportunity for healthcare providers of all specialties to establish new patients bases or grow their current practice. However, understanding Florida’s real estate market, key trends in the industry, and the best practices in real estate site selection is crucial in finding Sweetwater medical office space that will best position a doctor for success. Whether a client is looking for Sweetwater medical office space for lease or for sale, or looking for landlord/seller representation services, Florida Medical space’s professionals are uniquely talented and experienced in getting the job done well.

Healthcare Industry Trends

With a growing population and a budding healthcare industry, the decision to practice medicine in or near Sweetwwater is often made very eagerly. However, capitalizing on new opportunities in healthcare relies heavily on expertise in navigating modern healthcare real estate trends.

Shared Medical Office Space

One factor to consider when searching for Sweetwater medical office space for lease or for sale is whether a doctor’s scale, patient demographics, and budget would best be met with shared medical office space. Medical office buildings are on a sharp rise in the country for their capacity to boost referrals, efficiency, and recognition for healthcare professionals and companies. Florida Medical Space has extensive experience developing, managing, and representing these buildings and therefore is able to guarantee our professionals will fight for the best deal possible.

Convenience

Another key trend in healthcare is the rise of convenient, consumer-facing real estate and facilites. Each year, more and more healthcare practices are adapting to the changing demand of patients, seeking premier visibility, accessibility, and high-quality facilities. If this is a priority for a client we do not settle until we find medical office space in Sweetwater that fulfills their vision.

A Dynamic Real Estate Market

The healthcare real estate market has changed tremendously over the many years our professionals have been helping clients, and it continues to change today. Each city and county in Florida has unique real estate markets; it is crucial for healthcare professionals to have an agent on their side to negotiate advantageous tenant improvement packages, rental agreements, and lease terms.

How we can Help

Florida Medical Space can assist with any real estate need for medical office space in Sweetwater. Whether a client is looking to lease, purchase, sell, or develop property in the area, we can leverage our expertise to allow doctors to focus on what matters most. Please learn more about each of our services href=”https://floridamedspace.com/services/”>here.

jupiter medical office space

The Jupiter Medical Office Market

With a rapidly growing population and commercial real estate market, medical office space for lease in Jupiter is in high demand. The healthcare industry is evolving as patients demand increasingly convenient and consumer-facing practice locations. Jupiter medical office space for lease varies on a number of important fronts. We leverage our years of experience in Florida’s market to conduct targeted research to find the best locations for our clients based on their goals, budget, patient base, and specialty.

Medical Office Space for Lease

The selection process Jupiter medical office space for lease relies on a few key strategic decisions. A doctor or medical group must first think about the demographics they cater to and the competition in the area to determine where they should locate their practice. Then, once a general location for medical office space has been delineated, the next step is to discuss plans for growth. Florida Medical Space realizes that the Jupiter medical office market is complex because the area is ripe for growth for healthcare professionals. If a doctor or group is planning for growth, they need advocated who will either find them space that can accomodate their future plans or a lease agreement that is short-term to give them the flexibility to relocate.

Shared Medical Office Space

Shared medical office space for rent offers doctors and medical groups the chance to take advantage of premier locations and facilities while also only paying to lease the amount of space they need. This is especially true in Jupiter, where some of the shared medical office space offers high chances of success due to the increased visibility doctors/groups receive in high-traffic areas and buildings. If you are looking to lease an office in a shared medical space, reach out to us to better understand how our services are uniquely capable of securing you the best deal and location for you and your patients.

 

Our Capabilities

Site Selection

Our extensive experience researching markets throughout Florida has made our professionals well-equipped to find medical office space in Jupiter for a client to lease. Our professionals work with a doctor of medical group to gauge their needs, and once standards and goals are established, we provide the client with a thorough report on the properties available in the area. FMS prides itself in working tirelessly with clients until we find the perfect place for them to serve their patients.

Tenant/Buyer Representation

Having a solid, experienced healthcare real estate agent can make a crucial difference for a healthcare professional in a real estate transaction. Whether in a search for a shared medical office space or a location in a retail center, FMS has worked with countless tenants to negotiate fair and advantageous deals in terms of lease term, tenant improvement package, and rental rates. For buyers, we work on all fronts to protect the interests of our client and secure the best deal possible. Learn more about our tenant/buyer representation services here so that you can better understand our capabilities in the Jupiter medical office space market.

Landlord Representation

If you are a landlord looking to lease or sell your medical office space property in Jupiter, you are likely looking for a healthcare real estate agency with professionals who understand the medical real estate market. To guarantee the best deal possible financially and in terms of your long-term plans or exit strategy, FMS professionals work closely with landlords/property owners throughout the entirely of this process. We market aggressively and efficiently to find quality prospective tenants/buyers for our clients. Read more about our landlord/seller representation services here.

With a growing population of over 1.3 million and rapidly evolving demographics, Hillsborough County has become a prime area for doctors of all specialities to practice. Tampa is home to multiple facilities at the forefront of research efforts in the global healthcare community, and a sizeable inventory of medical office space. However, a promising market is just the first ingredient for success for a practice. Our experience in Hillsborough has taught us that strategic site selection is especially important for doctors is they plan to build a sustainable patient base, maintain their current patients, and/or experience growth. Ww are a trusted ally of doctors, whether they are looking for Tampa medical office space or have any other real estate needs in the surrounding area.

Strategic Site Selection

Hillsborough County’s economy and population are becoming increasingly diverse. One of the most important components of commercial real estate is understanding how to navigate such a complex market to find sites that maximize a client’s chances for success. For each client in Hillsborough, we leverage our knowledge of the area to conduct a targeted and thorough market study. We work with the client to gauge the demographic profile they seek to serve within the county and select the locations that best fit their needs. For example, Tampa medical office space varies greatly in terms of visibility, accessibility, pricing, and the types of rental agreements offered. It’s crucial that any client looking for medical office space for lease understands what kind of deal they need on all these fronts.

Data on Hillsborough County

We closely follow trends in the county’s real estate market. Specifically in healthcare, it is valuable to have a solid grip on where the market stands so that we can advocate fairly and aggressively on our clients’ behalves. As of the third quarter of 2018, the Hillsborough medical office space market can be summarized by the following statistics:

  • 6,372,000 square feet of Hillsborough medical office space inventory.
  • Average rental rates of $21.25 per square foot.
  • Average occupancy rate of 93%.

Tampa’s Growth

Tampa is one of the fastest growing metropolitan areas in the country. This growth is promising for medical professionals seeking to cater to the population within the city or in the surrounding areas such as Brandon, Town ‘n’ Country, Valrico and more. Florida Medical Space plays a consultative role in guiding these professionals through each crucial step of their search for property. Below we have listed some of the most important factors in selecting medical office space in Tampa.

  • One key decision that precedes most others is whether a client is seeking to lease or purchase a property. We help doctors weigh the advantages and disadvantages of each option, taking into account plans for growth, budget, and the market conditions within the county. Learn more here.
  • Our years of experience in the area has made us aware of the competitive landscape in Tampa/Hillsborough’s healthcare industry. This is key in selecting a practice location for our clients that takes into account the surrounding competitors.
  • Once a demographic profile and market study is completed, we help clients decide on a trade area. This could be as simple as picking a target area within Tampa or as complex as exploring the benefits of operating out of medical office space in Westchase, Egypt Lake-Leto, East Lake-Orient Park, Greater Carrollwood, University, or Keystone.
  • No matter how promising a relocation or purchase may be for healthcare professionals, it is always crucial that they stay within a budget. We have a conversation with our clients upfront to determine the budget that bests minimizes risk and maximizes their chances of being financially successful. The site selection process that follows is always commensurate with the budget outlined.

Our Services

Florida Medical Space works throughout the state of Florida to help doctors, medical groups, and healthcare companies with all of their real estate needs. Specifically, we are well-positioned as healthcare real estate brokers in Tampa to help clients looking to lease or buy Tampa medical office space because we understand how to navigate the medical real estate market in Hillsborough. We emphasize finding an office or building that meets the needs and plans of our client’s practice. FMS is also uniquely capable of successfully leasing or selling medical office space in the Tampa market. Our marketing efforts and professional experience listing properties has taught us what works and what does not work when seeking quality tenants/buyers.

If you have a question about Hillsborough medical office space or any real estate needs in the Tampa area, contact us so that we can discuss further how we can serve you.

Florida Med Space is known for being the primary company that provides high quality service to medical practitioners in Florida. We will find the best professional office space for rent that are within easy reach, in close proximity to major hospitals and other medical centers and properties that are affordable. Included in our current Florida property listing are Plantation medical Plaza, the JFK Medical Arts Building, Westside Medical Plaza II, Royal Palm Medical Centre and Palmetto Medical and Surgical Suite which is connected to the Palmetto General Hospital.

Florida’s Primary Medical Property Experts

As a statewide source for finding prime medical real estate property that is perfect for those in the medical field, we are proud to source properties for medical doctors, dentists and other medical professionals in Florida. A great location plays a vital role in the success of your business, and it is with this in mind that we ensure that we locate properties that will contribute to the growth of your medical business. Sourcing property that takes into consideration, location, affordability and the ability to provide a great foundation for growth, we are a leader in our field.

Affordable Professional Office Space for Rent

The success of your medical practice lies with a number of factors including the location you choose to operate from in Florida. We have an experienced team that is trained to know which locations are best. We choose buildings that are in close proximity to hospitals or locations where patients will find your office accessible.

If you are seeking a professional office space for rent, you can rely on the services of Florida Med Space. We take pride in finding you the right location. Contact us so we can help you to start on the road to success for your medical practice.