Hospitals Repurposing Real Estate for Innovation Hubs

Commentary by: Todd Perman, CCIM, Vice Chairman Global Healthcare Services

A recent article from Advisory Board found that as hospitals and health systems refocus on optimizing their real estate footprint in a post-pandemic environment, several companies have been repurposing old facilities and investing in new opportunities to create hospital innovation hubs. Health systems are transforming clinical, administrative, or even outdated, underperforming higher-acuity spaces into Silicon Valley-inspired incubators. Purposes for the innovation hubs vary; a collaboration space for health startups, a lab space dedicated to creating new products or a space to evaluate digital tools and solve health system problems.

A variety of health systems in the country, such as Cedars-Sinai, have established innovation hubs in place.

To read the full Advisory Board article about creative repurposing of non-core real estate space or investments into new facilities, click here.

These 4 health systems are betting big on innovation.” (2022, May 11). Advisory Board.

All information contained in this publication is derived from sources that are deemed to be reliable. However, Newmark has not verified any such information, and the same constitutes the statements and representations only of the source thereof, and not of Newmark. Any recipient of this publication should independently verify such information and all other information that may be material to any decision that recipient may make in response to this publication, and should consult with professionals of the recipient's choice with regard to all aspects of that decision, including its legal, financial, and tax aspects and implications. Any recipient of this publication may not, without the prior written approval of Newmark, distribute, disseminate, publish, transmit, copy, broadcast, upload, download, or in any other way reproduce this publication or any of the information it contains. This document is intended for informational purposes only and none of the content is intended to advise or otherwise recommend a specific strategy. It is not to be relied upon in any way to predict market movement, investment in securities, transactions, investment strategies or any other matter.

Download Our

Sign Up for Our Newsletter