This Week in Healthcare Real Estate – 12.8.17

This Week’s Top Healthcare Real Estate News

Repurposing retail space for health care use
Retail businesses across the country are abandoning brick and mortar locations in favor of building their online presence. This has opened many opportunities for health care providers to reuse underutilized retail spaces… Health Facilities Management

Retail health care lacks the personal connections that patients want and need
Retail thinking is spreading quickly in health care. It promises greater convenience and speed for delivering basic health care services — but it isn’t what patients really want.
Micro-hospitals: Smaller facilities with a big future… STAT

63 New or Replacement Hospitals Start Construction in 2017
Quick internet searches would tell you that the hospital sector is closing or shrinking due to growth in the outpatient sector. Revista data, however, paints a different picture of the hospital sector. Yes, there are hospitals closing but there are also many hospitals expanding or, even building new… Revista

IRET to Sell 1.3 MSF Medical Office Portfolio for $417.5M
IRET entered into an agreement to sell its medical office portfolio for $417.5 million. The properties, representing approximately 1.3 million square feet, include the Company’s entire healthcare portfolio, consisting of 28 healthcare properties. The buyer will be according to industry sources, Chicago based Harrison Street Real Estate… PR Newswire

Dallas medical real estate firm buys $167 million in buildings
Dallas-based health care real estate developer, Caddis Partners LLC, which recently purchased a dozen properites, plans to add at least three more to its portfolio by the end of the year. Together, the 15 properties including one in Plano, are valued at about $167 million… Dallas Morning News

CHI, Dignity merge to form largest not-for-profit hospital system
Catholic Health Initiatives and Dignity Health have agreed to merge into the nation’s largest not-for-profit health system, pending antitrust and church approval. The combined health system will create new headquarters in Chicago and rename itself by next year… Axios

United Healthcare to buy Davita Clinics for $4.9 Billion
In another example of the blurring boundaries in the health care industry, UnitedHealth Group, one of the nation’s largest insurers, said on Wednesday that it is buying a large physician group to add to its existing roster of 30,000 doctors… NY Times

CVS to Buy Aetna for $69 Billion in a Deal that May Reshape the Health Industry
CVS Health said on Sunday that it had agreed to buy Aetna for about $69 billion in a deal that would combine the drugstore giant with one of the biggest health insurers in the United States and has the potential to reshape the nation’s health care industry… New York Times

Advocate, Aurora Health Care to merge, create $11 billion health system
Illinois giant Advocate Health Care and Wisconsin’s Aurora Health Care have revealed plans to merge, the systems announced, saying together they will form the 10th largest nonprofit integrated health system in the country… Healthcare Finance News

Healthcare Adds 30,000 Jobs in November
Health care added 30,000 jobs in November. Most of the gain occurred in ambulatory healthcare services (+25,000), which includes offices of physicians and outpatient care centers. Monthly employment growth in health care has averaged 24,000 thus far in 2017, compared with an average increase of 32,000 per month in 2016… BLS

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