By AZBEX Staff for Arizona Builder’s Exchange
Under a $120M joint venture announced earlier this week, Banner Health and Select Medical will start construction this year on three new acute inpatient rehabilitation hospitals. The buildings are targeted for completion in 2019, according to Banner’s press release.
The venture will, “…combine operations of more than 38 physical therapy centers in Arizona and four acute inpatient rehabilitation hospitals located in Phoenix. Banner Health will be the majority owner; Select Medical will serve as managing partner,” according to the announcement.
The four inpatient rehabilitation hospitals that will include physical therapy units under the agreement are: Banner – University Medical Center Phoenix, Banner Boswell Medical Center in Sun City, Banner Del E. Webb Medical Center in Sun City West, and Banner Baywood Medical Center in Mesa. The three to-be-built operations will consolidate services from these hospitals into more modern, cutting-edge facilities that will serve patients recovering from a variety of conditions, including stroke, brain injury and neurological disorders, among others.
The 38 combined centers will consist of 26 currently operating Select Physical Therapy centers and 12 Banner Health Physical Therapy and Rehabilitation centers.
A report in The Arizona Republic said the outpatient centers will be branded as Banner Physical Therapy and Rehabilitation in partnership with Select Medical.
“This agreement brings together two top-ranked healthcare providers to serve Arizona,” Peter S. Fine, Banner Health president and CEO, said in the announcement. “When Banner Health went searching for a partner for these specialty, post-acute care services, it quickly became apparent that Select Medical was the best fit. They share Banner’s commitment to clinical quality and our obsession with making healthcare easier so life can be better for our patients and their families.”
The Republic cited Lynn Rosenbach, Banner’s VP of post-acute services, as saying the agreement was undertaken as part of Banner’s focus on expanding medical services in settings other than traditional hospitals.
NOTE: Paid subscribers receive additional project details in our twice-weekly PDF publication, including project stakeholder information and valuable project bidding leads. Find out more about AZBEX subscriptions or contact Rebekah Morris at email@example.com or (480) 709-4190