Medical Tech Firm Buys Dev Site In Palm Beach Gardens For $19M

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Medical technology firm Meso Scale Diagnostics paid $18.9 million for a development site in Palm Beach Gardens that was previously approved for a hospital.

An affiliate of Rockville, Maryland-based Meso Scale acquired the 9.1-acre assemblage at the southwest corner of PGA Boulevard and Ballenisles Boulevard, just east of Florida’s Turnpike, according to records and Vizzda.

The buyer obtained $18.2 million in seller financing.

The seller, an entity managed by John Clark Bills in Palm Beach Gardens, paid $996,300 for the vacant land in 2009, records show.

In 2021, Palm Beach Gardens approved a rezoning of the larger 7.2-acre parcel from residential to commercial. It also approved a site plan for two medical rehabilitation buildings with 80 beds, submitted by Encompass Health, a Birmingham, Alabama-based health care company. At the time, Encompass was under contract for the development site.

It is unclear why Bills and Encompass did not close the deal.

Meso Scale executives did not respond to emails requesting comment about the company’s plans for the vacant property. Led by CEO Jacob Wohlstadter, Meso Scale develops, manufactures, and markets instruments and materials for biological research and life sciences, according to the firm’s website.

Medical building development and sales in South Florida are seeing an uptick. Last month, Memorial Healthcare System paid $49 million for 8.2 acres in Hollywood. Memorial plans to redevelop a two-story grocery store and a 156,000-square-foot retail building on the property into a possible health and wellness center.

In January, Boyd Watterson Asset Management acquired a Veterans Affairs clinic in Sunrise for $38.2 million. The 111,000-square-foot outpatient clinic provides military veterans with primary care, cardiology, dental, mental health, neurology, orthopedics and women’s health services, according to its website.

In December, ABS National Business Parks paid $38 million for a Palm Beach Gardens two-building complex that includes medical offices. The joint venture bought Corporate Center at the Gardens at 4200-4400 Northcorp Parkway.

 

Source:  The Real Deal

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New State-Of-The-Art Health Park In Seminole County Opens

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A new state-of-the-art facility opened its doors on Monday, offering new options for specialty care to Seminole County residents.

The new AdventHealth Lake Mary Health Park is a three-story, 58,000-square-foot facility that offers a wide range of specialty practices, including gastroenterology, electrophysiology, lab services, diagnostic medical imaging, sports medicine and rehab, urology/UroGYN, breast surgery, general surgery and outpatient surgery.

“AdventHealth is a comprehensive and connected health care network dedicated to caring for our communities, which is why we are thrilled to expand and better serve Lake Mary and Seminole County residents,” said Jeff Villanueva, CEO for AdventHealth Altamonte Springs. “This innovative facility further establishes our commitment to provide convenient whole-person care close to home.”

The outpatient surgery center is set to open in late 2024 and will be located on the third floor, where patients will have access to screenings, biopsies and surgical intervention.

“We’re excited about the opening of the AdventHealth Lake Mary Health Park providing convenient specialty care and meeting the needs of this developing community,” said Joel George, executive director of retail services at AdventHealth. “With an emphasis on providing concierge-level service and a consumer-centric experience, our new health park is built for the modern world, making access to health care easy and friendly.”

The health park is located right next to the AdventHealth Lake Mary ER on Rinehart Road.

Even before patients walk through the door of this new facility, they will be able to schedule appointments, complete registration and talk to their providers online.

Patients will be greeted by an engagement specialist that will offer a personalized experience that is tailored to their needs.

AdventHealth opened its first health park, in Osceola County, in August 2020.

Since then, two other parks have opened in Clermont and Port Orange.

 

Source:  WFTV 9

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Health First Board OKs Scaling Back Merritt Island Hospital Project, Saving $100 Million

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Health First says it will save about $100 million by scaling back its planned hospital complex off State Road 520 on Merritt Island, abandoning the “wellness village” concept in favor of a more conventional project.

The new 120-bed, seven-story hospital will replace the current 150-bed, six-story Cape Canaveral Hospital in Cocoa Beach. The Merritt Island site also will have a medical office building; a two- to three-deck parking garage; surface parking; and areas of outdoor green space.

But the 14-acre site will not have the “wellness village” additions originally envisioned. Health First’s original plan for a wellness village included retailers, restaurants, a coffee shop, a juice bar, a day care center, a fitness center, a spa and other amenities.

Brett Esrock, executive vice president, chief financial officer and chief operating officer of Health First, detailed the scaled-back plan in an email and question-and-answer summary sent Thursday to the company’s medical staff and other health professionals.

Health First is downsizing its plan for the new hospital project in the face of rising construction expenses coupled with financial losses experienced by Health First. Those losses were triggered by rising staffing costs, the COVID-19 pandemic, investment losses and other factors.

In his email, Esrock wrote: “At Health First, we knew it was critical for us to reevaluate how we can best serve our community ― while being fiscally responsible. That’s why our collaborative design team came up with a revised concept, transitioning our vision from a wellness village to a conventional health care campus.”

Esrock said Health First’s board of directors has authorized the health care company to continue the detailed redesign and engineering work through the end of this year for this revised concept.

How much will the new project cost?

The price tag is estimated at $410 million, which Esrock said is about $100 million lower than its initial concept. Esrock said the new figures “factor in the cost of inflation, which we certainly anticipate.”

Health First said construction costs had risen about 30% since the original project was proposed.

What will some of the hospital’s features be?

The replacement hospital will be 281,000 square feet, with 120 patient beds.

“The hospital will feature a contemporary design and state-of-the-art technology,” Esrock said. “Plus, it’ll be built to our state’s hurricane building standards. A central energy plant will be on the premises to ensure continuous power functions, even during tropical storms and hurricanes.”

What will the medical office building be like?

Esrock said the new 91,567-square-foot medical office building “will offer access to a variety of wellness and health services,” but details are still to be determined.

What is the construction timeline?

Esrock said Health First has begun the designing and engineering portion of the project.

 

 

Source:  Florida Today

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HCA Plans Health Care Facility In Southern Miami-Dade

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Hospital giant HCA Healthcare has proposed a free-standing emergency department near Homestead.

The Nashville, Tennessee-based health care provider filed a pre-application with Miami-Dade County officials concerning the 5.82-acre property at 14118 S.W. 288th St., just west of a Florida’s Turnpike exit. The site, which is owned by Miami-based Biscayne Shopping Center, currently has a 23,165-square-foot shopping center and some vacant land.

HCA wants to build a 10,860-square-foot free-standing emergency department on the vacant land.

 

Source:  SFBJ

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Medical Training Facility With Cadaver Lab Opens In Palm Beach County

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An 11,000-plus-square-foot dental school recently opened in Palm Beach Gardens.

Located within a 68,030-square-food medical office building at 4600 E. Park Drive, ZimVie Institute South includes education and training, space, a cadaver lab, 3D printing capabilities, and a mill. It will also host comprehensive training events on subjects from practice management, to digital workflow training.

ZimVie Institute South will be operated by ZimVie Inc., a Westminster, Colorado-based company that develops and manufactures products designed to treat spine pathologies, tooth replacement and dental restoration. ZimVie also trains more than 100,000 dental professionals in institutes located in Colorado, California, Columbia, Switzerland and China.

The corporation projects that 1,500 dental professionals will be trained at ZimVie Institute South annually.

Source:  SFBJ

 

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