New Healthcare Property Firm Instant Leader
The company's project management revenue is expected to reach $25 million this year, but its principals won't disclose facility management revenues. Oman and Gibson say they'd like to see the company grow by 20 percent a year by increasing efficiency and providing best-in-class technology to projects and clients.
Eddie Alexander, a founder of Surgical Development Partners, says that he had considered opening a similar business that focused solely on the construction and project management end, overseeing all facets of a building project from negotiating contracts to opening the facility.
"There is a continuing growing market for those kinds of services," he says.
And there are a growing number of players to serve that market. Locally, real estate firm Colliers Turley Martin Tucker has a health and medical real estate division that provides consulting, engineering and design, portfolio management, research and transaction management for medical offices, user-occupied facilities, clinical space and a surgery center.
Similarly, CB Richard Ellis has a national specialty health care group that works with Iasis Healthcare Corp., LifePoint Hospitals Inc. and other hospitals and chains on transactional, planning and management services. Attempts to reach officials at both firms were unsuccessful.
And Healthcare Realty Services, a subsidiary of real estate investment trust Healthcare Realty Trust, provides project development, property management and governance oversight to health systems.
Though the health care real estate market has historically been more stable than real estate as a whole, the sector is now dealing with some issues.
In a June report, Wachovia Securities analyst Stephen Swett wrote that, while overall health care fundamentals are showing modest signs of improvement, lower Medicare/Medicaid reimbursements and higher liability insurance haven't fully impacted the operating margins of tenants and lessees yet.
Shrinking margins are likely to be a short-term problem, though, and Gibson points out that the long-term outlook is bright.
"The demographics in the health care industry are very good," he says.
OGA News
- Nashville Business Journal: New health care property firm instant leader
- Nashville Business Journal: Curing a headache: Facility management firms can help
- The Tennessean Business: Movers and Shakers - Bond Oman and Tom Gibson start company
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