Baptist Health And The Miami Dolphins Announce The Opening Of New Orthopedic Complex

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Baptist Health is pleased to announce the opening of its new, state-of-the-art orthopedic complex across the street from Hard Rock Stadium, home of the Miami Dolphins.

Serving Dolphins players and the public alike, the new location offers comprehensive orthopedic care with a full range of diagnostic imaging, physical therapy and rehabilitation services all under one roof.

The expansive, 17,000-square-foot facility is located adjacent to the Baptist Health Training Complex, the Dolphins’ training facility, with clinical areas overlooking the team’s practice field. The new location will provide the public with high-quality orthopedic care, featuring cutting-edge technology and renowned Baptist Health medical experts.

“This new facility serves as a symbol of Baptist Health’s dedication to both our community and our partnership with the Miami Dolphins,” said Javier Hernandez-Lichtl, CEO of Baptist Health’s Doctors Hospital and Baptist Health Orthopedic Institute. “With its ideal central location, the orthopedic complex will provide even more members of the community with our trusted care, and we look forward to inviting our patients in.”

The new orthopedic complex commemorates the decades-long relationship between the Miami Dolphins and Baptist Health, which serves as the Official Medical Team and Official Wellness and Sports Medicine Provider for the team. In July 2023, the two entities celebrated the two-year anniversary of the unveiling of the Baptist Health Training Complex where the team, coaching staff and football support staff are headquartered year-round.

“We are excited for the community to ‘go where the pros go’ and experience the same level of expertise we provide the exceptional athletes of the Miami Dolphins,” said John Uribe, M.D., orthopedic surgeon and Chief Medical Executive with Baptist Health Orthopedic Care and head team physician of the Miami Dolphins. “This orthopedic complex is the pinnacle of medical expertise, advanced treatment options and expedient care for all patients.”

 

“Baptist Health has been an incredible partner for many years, and it’s a privilege for us to join them in serving both our community and the players alike by bringing this world-class facility to our backyard,” said Jeremy Walls, Chief Revenue Officer of the Miami Dolphins and Hard Rock Stadium. “We’re excited that the public will be able to step foot on our campus and experience the same standard of care as our team in this new, innovative space.”

Baptist Health is also a proud partner of the Miami Dolphins Foundation, working together on a series of initiatives around the health and safety of South Florida students, coaches and parents to grow youth football participation in the region.

The orthopedic complex will begin seeing patients on August,14 at 19955 NW 27th Avenue, Suite 200, Miami Gardens. The entrance to the facility can be found at Gate 11, located on NW 27th Avenue between 199th Street and 203rd Street. Patients must have an appointment to receive care.​

 

Source: South Florida Hospital News

Healthcare Mergers: Expecting More In 2024

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Even with some high-profile hospital deals taking place in the first half of the year, merger activity across the broader healthcare industry has slowed a bit.

And KPMG is projecting that healthcare mergers and acquisition activity may be a bit more subdued for the remainder of the year. In the first half of 2023, there were 245 healthcare mergers, a 7% drop from the first six months of 2022, according to a report from KPMG.

“The pace of healthcare deals may not pick up more steam until 2024,” says Ross Nelson, KPMG’s national healthcare strategy leader for the provider and payer sectors. “We do think it’s going to pick up soon. I don’t know the exact date, but we’re hopeful that calendar year ’24 is certainly going to be more robust than the calendar year ’23.”

There have been some big healthcare transactions taking place in the beginning of the year, including CVS buying Oak Street Health in a $10.6 billion deal. UnitedHealth is purchasing Amedisys, the home health and hospice provider, in a $3.3 billion transaction. TPG and AmerisourceBergen completed a $2.1 billion deal to acquire OneOncology, a network of cancer practices.

Hospital merger activity is on the rise, and some analysts expect that to continue. In a deal that gained widespread attention, Kaiser Permanente agreed to acquire Geisinger Health, the Pennsylvania system. BJC HealthCare of St. Louis and Saint Luke’s Health System of Kansas City announced May 31 that they plan to merge and form an integrated academic health system. Aspirus Health, a Wisconsin-based system, and St. Luke’s of Duluth, Minn., said in July they plan to come together.

Headwinds And Tailwinds

Even with some big deals that have been announced, Nelson says a number of factors have slowed down some merger activity in the broader healthcare industry.

“The headwinds include higher interest rates, and if the Federal Reserve continues to raise interest rates, some organizations could wait before pursuing M&A plans,” Nelson says.

The Federal Reserve has raised its benchmark interest rate 11 times in the last 17 months, and it’s unclear if other hikes are coming, the Associated Press reports.

“If the nation moves into a recession, then that would likely cool healthcare merger activity,” Nelson says. “Some organizations are paying closer attention to heightened scrutiny from regulators, Nelson says. In some cases, the Federal Trade Commission has been vocal in opposing mergers and acquisitions involving health systems in the same market, drawing criticism from some in the hospital industry.”

Some hospitals have explored mergers with systems in other states to skirt regulatory concerns about the consolidation of providers in the same market.  UnityPoint Health and Presbyterian Healthcare Services said in March that they are exploring a merger, potentially creating an organization with more than 40 hospitals. UnityPoint operates hospitals in Iowa, Illinois and Wisconsin, while Presbyterian serves New Mexico.

“I think folks are looking at deals in other markets because they feel like often, the deals within their markets are having a tough time getting done,” Nelson says. “Even with deals involving organizations in different markets, regulators are taking a closer look.”

Nelson expects to see more hospitals teaming with other health systems or other partners on certain service lines to keep patients in their network.

“With hospitals that have assets that may not be as profitable as they should be, they may look for partners that might unlock revenue or cost synergies and they can share in the cumulative or combined bottom line,” Nelson says.

KPMG expects some of the economic pressures on merger activity to ease, leading to some increased deal-making.

“There is a lot of money on the sidelines that needs to be deployed,” Nelson says.

Some health systems could be looking at selling some hospitals in markets where they don’t have a commanding presence. Steward Health Care agreed to sell five hospitals in Utah to CommonSpirit Health earlier this year. In June, Ascension agreed to transfer Our Lady of Lourdes Memorial Hospital in Binghamton, N.Y., along with its physician practices, to the Guthrie Clinic of Sayre, Pa.

‘Unlock Value Creation’

As more care shifts outside the hospital, organizations could be looking to acquire more outpatient and ambulatory surgical centers. Investors could find opportunities in markets where the bulk of services are still being done inside the hospital, KPMG projects.

“Healthcare organizations considering mergers and acquisitions should think strategically,” Nelson says. “I think they should be continuously giving their portfolio a review of what’s kind of a core and non-core asset, or a performing or non-performing asset, within the existing portfolio.”

Organizations should stay disciplined about the thesis of their deals and valuations.

“You’ll get your chance to buy the right asset at the right price,” Nelson says. “For those that are buying assets, I would constantly look at how to unlock value creation or continue  do integration activities to unlock as much synergies and value as possible.”

Anu Singh, managing director and leader of partnerships, mergers and acquisitions at Kaufman Hall, told Chief Healthcare Executive in July that he expects to see more hospitals making deals in the months ahead.

“There are organizations that are looking for complementary resources and capabilities …  there are ones in the middle who have maybe some increased concerns about their long-term viability of remaining independent,” Singh said.

 

Source: Chief Healthcare Executive

Denver-Based Senior Living Developer Confluent Plans $500M Pipeline

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Confluent Development is expanding its presence in senior living despite persistent headwinds facing new development growth as construction starts remain at historic lows.

The Denver, Colorado-based real estate investment and development firm is gearing up for continued growth with a large pipeline, and recently promoted Matt Derrick to managing director of the firm’s senior living development division.

Since joining in 2016, Derrick has led the development team through the completion of $600 million in senior living projects across 14 projects. Under Derrick’s leadership, Confluent is now developing a $500 million pipeline for active adult and senior housing projects. The senior living team identified opportunities with lower-acuity projects like IL and active adult.

Amid this year’s tough inflationary climate and tough capital and lending ecosystem, Confluent Development worked with land owners to temporarily postpone land closings on certain sites, while still retaining control of the properties. Derrick expects those challenges to remain in place for the “rest of 2023 and for at least the first-half of 2024.”

“Sitting on the sidelines is not in our nature, so we are going to be focused on sourcing new, A-plus development sites in great markets. This will put us and our operating partners in a superior position for the anticipated recovery in 2025 and beyond,” Derrick said.

The company has partnered with MorningStar Senior Living and Harbor Retirement Associates (HRA) to handle management of the new communities, having worked with MorningStar on 14 ventures across six states and HRA on nine properties in six states.

“We are currently working with several additional operators in both the senior and active adult spaces and we are excited to share more details on those partnerships and ground breaks in the near future,” Derrick told SHN.

Pipeline Remains Strong

This year, Confluent marked the opening of MorningStar of Mission Viejo in California, HarborChase of Shaker Heights in Ohio and MorningStar at Observatory Park in Colorado, all projects that were started in 2021.

Even amid the tough climate, Confluent has active projects in the works, including: MorningStar Senior Living at The Canyons, which is under construction and is its first joint venture in Nevada and design and entitlements phase for a Kansas City, Kansas-based project with MorningStar.

“With a robust pipeline of more than $500 million, Confluent is poised to add to its growing senior living portfolio,” Derrick said. “That pipeline includes sites that are irreplaceable in high barrier to entry markets, with projects still needing design, entitlements and later construction, something that will take many years aiming to capitalize on demand for senior living in 2026 and 2027 for the pipeline’s projects to open their doors. Our new mantra is: ‘Capital and courage.’ and it is going to take a healthy amount of both to navigate the process.”

With innovation in mind, Confluent Development introduced a “Whole Health Standard” that was implemented at existing communities amid the Covid-19 pandemic, and will guide future development standards as resident safety was considered in greater detail following the pandemic. That means crafting designs that are sustainable, holistic and incorporates the latest protections for resident health while advancing amenities geared for mental health.

With health of the pipeline top of mind, Derrick said he anticipates the company returning to its aggressive development strategy for the anticipated recovery “in 2025 and beyond.” But that doesn’t mean the company is resting on its laurels in the meantime waiting for better market conditions.

“We are and will continue to pursue value-add acquisitions to add to our growing portfolio,” Derrick said. “The near term still looks challenging, but we are confident that the industry’s brightest days are right around the corner.”

 

Source: Senior Housing News