UVM Medical Center gets green light to purchase $22M in nearby property: 5 highlights

Written by Mackenzie Garrity | May 30, 2018 | Print  |

Vermont state regulators approved Burlington-based University of Vermont Medical Center's request to purchased two adjacent buildings for $22.1 million, according to the VT Digger.

Here are five highlights:

1. UVM plans to make the larger 53,600-square-foot building home to UVM Medical Center's orthopedic center. It will also house radiology services.

2. The other 28,069-square-foot building will house the hospital's existing cardiology and cardiac programs. It will also be home to the endocrinology program and a pain management center.

3. Hospital executives reported the expansion will rather increase patient access to care. UVM Medical Center is the largest state hospital with an estimated 1 million patient visits annually.

4. UVM Medical Center does not plan on developing new buildings from the existing ones or acquiring any new equipment to fill the new buildings. It noted, the purchases are "critical" to hospital operations.

5. Originally it was estimated the two buildings had a base rent of nearly $1.9 million. However, the hospital negotiated to purchase them both for $22.1 million. In 30 years, UVM Medical Center estimates to see $54.3 million in cash flow from the buildings.

More articles on practice management:
University Orthopedics cuts ribbon on new location: 3 insights
Front Range Orthopedics & Spine to open walk-in clinic
Marshalltown Orthopedics to close amid surgeon investigation: 5 things to know

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