Franciscan St Anthony Memorial Hospital (“SAMC”) wanted develop an outpatient cancer center in the Michigan City market in partnership with a group of physicians. The physician group desired an ownership interest in the equipment and building. A competitive facility recently broke ground and speed to market was critical.
SAMC selected HSA|PrimeCare as its development partner to plan, develop and own a one-story outpatient cancer center on SAMC’s Woodland Outpatient Campus adjacent to Woodland Healthcare Surgical Center and an attached medical office building. The land site was owned by the hospital. HSA ground leased approximately 3.59 acres to develop the building and related improvements. HSA structured a transaction which included physician ownership and provided the hospital with flexibility for future operating partnerships. The rent structure allocated costs between medical oncology and radiation oncology and allowed the hospital to share in the development risk and benefit from cost savings during the development process. The building included a radiation oncology center with a linear accelerator and PET/CT Scan, an infusion center and offices for physicians. The building design and development was fast tracked and delivered on-time in the April 2012.
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