The Sanders Trust Developing $23 Million Freestanding Rehabilitation Hospital In Iowa City
Birmingham, Ala. – The Sanders Trust, one of the nation’s leading healthcare real estate investment companies, is pleased to announce they have been selected as the developer to finance, construct and own the freestanding rehabilitation hospital, Mercy Iowa City Rehabilitation Hospital in Coralville, just outside of Iowa City, Iowa.
The joint venture between Catholic Health Initiatives – Iowa Corp., an Iowa non-profit corporation doing business as Mercy Hospital – Iowa City and Kindred Healthcare Operating, Inc. selected The Sanders Trust as their development partner of the inpatient rehabilitation facility. The Sanders Trust will own the real estate and the Rehabilitation Hospital will be operated by the Mercy/Kindred joint venture.
A formal groundbreaking ceremony at the construction site took place in April. Located at 2801 Heartland Drive, the facility is expected to open by the second quarter of 2020 and will provide care for patients recovering from stroke, traumatic brain injury, spinal cord injury, amputation and other conditions.
The 54,000-square-foot facility will feature 40 patient beds, along with gymnasiums outfitted for high-tech therapy devices and treatments. Mercy Iowa City Rehabilitation Hospital will provide nursing care, physical therapy, occupational therapy, speech pathology, and related services to post-acute patients for whom the average stay is approximately 13 days.
“Mercy Iowa City Rehabilitation Hospital will provide state-of-the-art technology and treatment for patients needing comprehensive rehabilitation. Our team is extremely proud to be working with Mercy and Kindred, again, on the state’s second freestanding rehabilitation facility,” stated Rance M. Sanders, President and CEO of The Sanders Trust.
Last year, The Sanders Trust (with Mercy and Kindred) opened Iowa’s first freestanding rehabilitation hospital, Mercy Rehabilitation Hospital in Des Moines, Iowa.
ABOUT THE SANDERS TRUST
The Sanders Trust develops and acquires medical office buildings, inpatient rehabilitation hospitals and specialty hospitals nationwide. Headquartered in Birmingham, Alabama, The Sanders Trust has been a recognized leader in the investment community for healthcare clients since its inception in 1989 and has developed or acquired medical properties in 27 states.
For more information on The Sanders Trust, visit www.SandersTrust.com.
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