Deal repositions 40-bed inpatient rehabilitation facility
MIAMI (Nov. 22, 2024) — Pioneering public health investment firm SPHERE Investments (Strategic Public Health Equities and Real Estate) announced today the acquisition of PAM Health Rehabilitation Hospital of Greater Indiana — South Campus, an inpatient rehabilitation facility. The 66,143-square-foot asset is located at 3104 Blackiston Blvd. in New Albany, Indiana, and marks SPHERE’s first investment in the state.
Previously operating under Southern Indiana Rehabilitation Hospital, the asset sits on 6.92 acres and includes 40 inpatient beds. Under PAM Health’s (PAM) management, the hospital will offer comprehensive recovery services for patients with serious injuries, surgeries, chronic conditions, and interdisciplinary care, including physical, occupational, and speech therapy.
SPHERE’s involvement will further bolster PAM’s long-term market leadership.
“This acquisition strategically enhances PAM’s regional presence by establishing a South Campus that complements the thriving North Campus. This integration optimizes patient access and operational efficiency, reinforcing our commitment to delivering high-quality, comprehensive healthcare services.,” said Eli H. Karlin M.D., SPHERE’s Managing Partner.
“Expanding our portfolio with this acquisition is a strategic step forward in addressing the public need for viable healthcare infrastructure and reinforces our commitment to supporting PAM with facilities that enable optimal patient care,” said David Egozi Choukroun, SPHERE’s VP of Investments.
The Seller originally purchased the property in 2018 for $23.4 million.
With over a decade of experience, SPHERE Investments’ portfolio — valued at over $1 billion — includes Medical Office Buildings, Outpatient Surgery Centers, Special Surgical centers, and Post-Acute Care Hospitals. Their innovative approach to healthcare investments and public health ensures that communities benefit from high-quality care environments and a holistic focus on well-being.
About SPHERE Investments
Headquartered in Miami with a European presence, SPHERE (Strategic Public Health Equities and Real Estate) is a pioneering force at the intersection of public health equities and real estate investment. With a mission to improve global public health, SPHERE represents an evolutionary approach that goes beyond traditional healthcare infrastructure, reimagining the built environment to improve the wellbeing of communities. Capitalizing on proprietary data analytics and a diverse team of professionals, SPHERE is uniquely positioned to drive innovative solutions and create spaces that not only treat illness but promote holistic health and prevent disease. For more information, visit www.sphereinvestments.com.
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