53-bed facility will help meet growing needs for locally based long-term acute care and rehabilitation services.
LOUISVILLE, Ky., Nov. 18, 2022 /PRNewswire/ -- ScionHealth today announced the signing of an agreement with Upshot Capital Advisors (Upshot) to lease land at 9278 Turkey Lake Road ? in the heart of the Orlando, Florida tourism district ? to build and operate a 53-bed long-term acute care hospital (LTACH) featuring a rehabilitation unit.
The three-story, approximately 70,000-square-foot facility is expected to offer 25 long-term acute care beds and a rehabilitation unit with approximately 28 beds. The new hospital will be ScionHealth's second specialty hospital in Orlando, complementing the 64-bed hospital now under construction at the Upshot Medical Center at Mills Park location. ScionHealth currently operates 10 additional specialty hospitals in Florida under the Kindred Hospitals brand.
Construction on the Turkey Lake location is expected to start in 2023, and the new facility is expected to begin operations in the first half of 2025.
"We are thrilled to announce what will be our second specialty hospital in the Orlando market and twelfth in the state of Florida," said Rob Jay, chief executive officer of ScionHealth. "This investment provides yet another opportunity to bring our expertise in post-acute care to medically complex patients in the communities we serve. We are excited to grow our ScionHealth portfolio of specialty hospitals and further demonstrate our commitment to delivering high-quality patient care and outcomes in Florida and across the country."
"With the inclusion of a dedicated rehabilitation unit inside our long-term acute care hospital, we believe we can better meet the needs of Orlando-area patients," said Danny Brywczynski, president of ScionHealth's Specialty Hospital division. "By offering these complementary services under one roof, we are able to provide a more comprehensive range of physician-led rehabilitation care while avoiding the disruption of transferring a patient to a separate rehab facility. Patients requiring specialty hospital services benefit from this enhanced clinical integration."
The Orlando hospital is the second new-construction growth project to be announced by ScionHealth since it launched in December 2021. The company currently operates 61 specialty hospitals and 18 community hospital campuses and associated health systems across the country. It has also reached a definitive agreement to acquire Dallas-based Cornerstone Healthcare Group, a transaction that is expected to close later this year, pending completion of regulatory approvals and satisfaction of customary closing conditions. Upon closing of the Cornerstone transaction that will include the addition of 15 specialty hospitals, the total number of hospitals operated by ScionHealth will stand at 94.
ScionHealth strives to provide high-quality, patient-centered acute and post-acute hospital solutions. The health system is focused on driving innovation, serving its communities, and investing in people and technology to deliver compassionate patient care and excellent health outcomes. Based in Louisville, ScionHealth operates 79 hospital campuses in 25 states ? 61 long-term acute care hospitals and 18 community hospital campuses and associated health systems. For more information, please visit www.scionhealth.com.
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Upshot is a vertically integrated private equity real estate platform with business-units focused on the management of its discretionary funds, real estate development and construction operations, and its asset management and property management operations. With over 20 years in the medical and healthcare industry, Upshot uses its sector expertise to deliver its best-in-class healthcare projects by partnering with national healthcare systems and other healthcare related companies. For more information, please visit www.upshotca.com.
Upshot Capital Advisors
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