Montecito Medical Acquires Nashville-Area Oncology Facility

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Montecito Medical, a leading acquirer of medical office properties nationwide, has partnered with Sable Investments to acquire a medical facility in Franklin, Tennessee, that is home to one of the most advanced cancer treatment devices in the nation.

The Tennessee Oncology Proton Center, which represents a total of approximately 45,000 square feet, is 100% occupied by Tennessee Oncology under long-term lease.

“We are thrilled to acquire this highly specialized medical real estate asset that is an important center for the delivery of cancer care in Middle Tennessee,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical.

Proton therapy is an advanced form of radiation therapy that uses protons, or positively charged particles, to precisely target and treat cancerous tumors. This innovative treatment offers numerous benefits, including minimal damage to surrounding healthy tissue and fewer side effects.

OneOncology, the national platform partner of Tennessee Oncology, coordinated the relationship between Montecito Medical, Sable Investments, and Tennessee Oncology. Sable Investments and Montecito Medical principals include J.L. Holloway and Greg Merriman.

“Expanding services across the continuum of care is a core OneOncology strategy that helps our partner practices continually innovate and deliver cutting-edge care to their patients,” said Jeff Patton, MD, CEO of OneOncology and Chairman of Tennessee Oncology. “We’re proud to play a role to ensure patients have access to proton therapy in our community.”

Tennessee Oncology is a nationally recognized team of cancer care specialists and one of the country’s largest, physician-owned, community oncology practices. The group’s comprehensive range of cancer care services includes specialized oncology nursing care, laboratory services, pharmacy, outpatient chemotherapy, radiation therapy, PET/CT services, palliative care, patient and family education and financial support services. Founded in 1976, Tennessee Oncology serves adult cancer patients from South Central Kentucky through Middle Tennessee to Northwest Georgia.

“It is exciting for us to expand our presence in our headquarters’ state, especially when the providers at this property care for some of our neighbors in the Nashville area,” said Chip Conk, CEO of Montecito Medical.

 

Source: Benzinga

Community Health Systems To Sell Three Hospitals In Florida For $280 Million

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Community Health Systems has signed a deal to sell three of its hospitals in Florida for $280 million in cash.

The provider of healthcare and outpatient services said it will sell facilities in Brooksville, Crystal River and Spring Hill, along with their associated assets, to Tampa General Hospital and some of its affiliates.

The $280 million cash consideration doesn’t include anticipated purchase price adjustments for net working capital as well as capital leases assumed by the buyer. Including those figures, the cash consolidation is closer to about $290 million.

The deal is expected to close later this year.

Shares advanced 6% to $4.69 in after-hours trading.

 

Source: Market Watch

Tennessee Oncology Building New $120M Nashville Corporate Headquarters And Medical Center

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Tennessee Oncology, one of the nation’s largest cancer-care providers, is building a new, $120 million medical center and corporate headquarters in downtown Nashville.

The 200,000-square-foot medical center and office building will be located at 322 22nd Ave. N. in Midtown, between Centennial Medical Center and Ascension Saint Thomas Midtown. Medical services will include oncology, infusion, imaging, pharmacy and related services, the company announced this week.

The project is expected to be completed in the summer of 2025.

“We are excited to build a state-of-the-art cancer center in Nashville and expand our ability to care for patients throughout Tennessee,” said Natalie Dickson, president and chief strategy officer for Tennessee Oncology, in a news release. “There is enormous innovation in cancer care bringing patients more diagnostic and treatment options than ever before. By making this significant investment in a new cancer center, our physicians and staff are demonstrating our commitment to ensure patients in Tennessee continue to have access to the most cutting-edge treatments available anywhere in the world.”

The company has partnered with Birmingham, Alabama-based Johnson Healthcare Real Estate for the development and management of the project. Nashville-based Gresham Smith is providing engineering and design services.

 

Source: yahoo!news