RehabCare and St. Luke's Hospital to Develop New Rehabilitation Hospital Smart Multimedia Gallery
ST. LOUIS, (BUSINESS WIRE), October 15, 2006 - RehabCare Group, Inc. and St. Luke's Hospital in Chesterfield, Mo., have announced their intention to form a joint venture and file a state Certificate of Need (CON) that will enable them to develop, own and operate a new physical rehabilitation hospital.
The hospital will be located on the campus of Surrey Place, a skilled nursing facility owned by St. Luke's located three miles west of St. Luke's main facility. Construction is expected to be complete by late 2008, pending both CON and City of Chesterfield approvals. Financial terms of the joint venture were not disclosed.
The new 35-bed, approximately 35,000-square-foot facility will provide medical and therapy services for residents of St. Louis County, who are in need of inpatient physical rehabilitation. Under the joint venture agreement, RehabCare and St. Luke's will collaborate to provide management and staffing services for the rehabilitation hospital, including certain ancillary needs, laboratory and diagnostic services and support services, such as dietary and housekeeping.
Gary Olson, St. Luke's President and Chief Executive Officer, said the agreement with RehabCare follows several months of investigating solutions for a patient population that continues to grow in the hospital's existing 16-bed acute rehabilitation unit (ARU).
"This is a partnership that will continue to enhance the quality of our patient care and respond to a growing need for intensive inpatient rehabilitation services in the community," said Mr. Olson. "We selected RehabCare as our partner in this endeavor because of their experience developing rehabilitation programs in conjunction with hospital partners, their state-of-the-art capabilities and nearly 25-year commitment to excellence in post-acute care."
John H. Short, Ph.D., RehabCare President and CEO, said the agreement is of significant importance on many levels. "First and foremost, it provides us the opportunity to partner with a local healthcare provider steeped in a tradition of quality, compassionate care and to align our missions of helping people regain their lives," said Dr. Short.
"The new rehabilitation hospital also will add a critical element to our continuum of care in the greater St. Louis market," he continued. A continuum of care can be defined as the various clinical settings that provide services for patients in their transition from an injury or illness to home. RehabCare's St. Louis metropolitan market currently comprises management of two inpatient rehabilitation units in Madison County, Ill., four outpatient therapy clinics, one home health agency and nearly 60 skilled nursing facility programs.
"From a strategic standpoint, it represents a milestone in our freestanding operations as our tenth hospital nationwide and second in the state of Missouri," he added. In November, the company will break ground on a new long-term acute care hospital it is building just north of Kansas City in cooperation with North Kansas City and Liberty Hospitals. This hospital is expected to open spring 2007.
Dr. Short said that the rehabilitation hospital in West St. Louis County will employ medical and physical rehabilitation professionals, as well as support personnel, including staff from St. Luke's existing ARU. Patients will consist of those who have experienced a traumatic brain injury, stroke, burns, amputation, spinal cord injury, neurological disorder and other debilitating conditions.
Vatterott College Will Build $15 Million National Headquarters, St. Louis Campus at NorthPark
ST. LOUIS, (SLFP.com), October 15, 2006 - NorthPark Partners, LLC recently broke ground on the history-making NorthPark project and announced NorthPark's first tenant, Vatterott College. A $15 million, 90,000-sqare-foot project, Vatterott's new national headquarters and main St. Louis campus will open in October 2007. Vatterott's presence will bring approximately 150 jobs to the area, and 500 to 600 students will attend school on the campus at NorthPark.
The result of the largest reinvestment project in St. Louis County history, NorthPark stands to become the center for regional development and excellence. The much anticipated ceremony included St. Louis County Executive Charlie Dooley, St. Louis Mayor Francis Slay, and the mayors of the three municipalities within the boundaries of the project: Kinloch, Berkeley and Ferguson.
"Today is an excellent example of what happens when forward-thinking people unite and let the goal of positively impacting the community guide their decisions," said Dooley. "NorthPark isn't just the greatest reinvestment project in St. Louis County history - it represents a new day for North County and the entire St. Louis region."
Dooley added, "Vatterott's announcement to build their national headquarters here reinforces the very reason for creating NorthPark - to attract and retain businesses that will create good jobs and enhance
the quality of life for everyone who lives and works in St. Louis County."
The 550-acre business community is anticipated to create approximately 12,000 jobs with an estimated $7 billion impact on the regional economy. Aside from the economic impact, NorthPark will transform land that has been largely uninhabited since the 1980s, improving public infrastructures, reshaping the landscape, providing security, and creating cultural activities and experiences never before seen in the area.
"NorthPark is more than 5 million square feet of prime location," said Larry Chapman, NorthPark's director of development. "Combined with the existing unparalleled technology infrastructure, revitalization of the community, and the other exciting amenities involved, NorthPark is a thriving community that will attract attention from across the nation."
Located east of Lambert-St. Louis International Airport, NorthPark will be the only mixed-use business community of its kind in the United States next to a major airport, while also conveniently located near highways I-70 and I-170. Its 550 acres of office, retail and industrial space offer a unique mix of urban accessibility and suburban amenities, designed for growing companies looking for a Midwestern development that will suit their unique needs.
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