Hospitals seek funds for expansion, retrofitting: Tri-City, Palomar Pomerado, Sharp, Scripps systems have ambitious plans.
Publication:
San Diego Business Journal
Publication Date: 27-FEB-06 |
Format: Online Delivery: Immediate Online Access |
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Full Article Title: Hospitals seek funds for expansion, retrofitting: Tri-City, Palomar Pomerado, Sharp, Scripps systems have ambitious plans.(Health Care)(Palomar Pomerado Health)(Scripps Health) |
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Article Excerpt Hospitals countywide will collectively spend at least $2 billion to meet state earthquake building codes, but that isn't stopping them from planning unprecedented facilities expansion projects--some as high as $1 billion.
Public and private hospitals are seeking funds, including property tax increases, loans and private donations, to carry out these projects
Palomar Pomerado Health, or PPH, and Scripps Health each has a $1 billion expansion plan, and Tri-City Medical Center and Sharp Grossmont will decide in the coming weeks if they'll ask the public for hundreds of millions of dollars to complete a $400 million and $225 million plan, respectively.
La Mesa's Sharp Grossmont, with 481 beds, is owned by the public Grossmont Healthcare District, but leased to Sharp HealthCare, a private group of four hospitals.
While PPH, which serves inland North County, recently struck a deal with Escondido city officials, agreeing to pay $19 million in infrastructure improvements to build a new hospital on its preferred site, Tri-City and Sharp Grossmont are spending big bucks on public relations campaigns to ready voters for the possibility of bond measures that would pay for seismic updates and building...
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