The two-story facility is anchored by an ambulatory surgical center operated by Tenet Healthcare, which occupies the entire first floor. The second floor includes four medical practice suites.
The potential project emerges at a time when Health First is moving forward with major changes of its own that includes nearly doubling the facility’s size and constructing a new five-story tower.
Whether private equity ultimately helps or harms a hospital depends on the underlying financial health of the facility — and the structure of the deal.
The property, previously used as an unlicensed landfill, is designated as a brownfield site, meaning it requires environmental cleanup before redevelopment can begin.
BioStem, a MedTech company specializing in placental-derived products for advanced wound care, purchased a four-acre site.