PANAMA CITY, Fla. (July 7, 2026) – Ryan Companies US, Inc., in partnership with Exalt Health, announces the groundbreaking milestone of a high-performance inpatient rehabilitation hospital in Panama City, Florida. The hospital is scheduled to open late summer 2027.
The inpatient rehabilitation hospital is strategically located near several major healthcare facilities, including Ascension Sacred Heart Bay and HCA Florida Gulf Coast Hospital and will meet the demand for post-acute care in a rapidly growing retirement area. Ryan formed a joint venture with Exalt Health to finance, develop and own the hospital. Ryan will also serve as the general contractor and property manager.
The 39,093-square-foot, 40-bed hospital continues a strategic partnership between Ryan and Exalt Health, which began at One Scottsdale Medical in Scottsdale, Arizona. Ryan is also developing an inpatient rehabilitation hospital in Riverview, Florida, in partnership with Exalt Health.
“Our team is thrilled to continue our robust partnership with Exalt Health as we bring this landmark inpatient rehabilitation hospital to Panama City,” said Jaime Northam, senior vice president of healthcare development, Ryan Companies. “This project affirms our commitment to delivering critical post-acute care infrastructure in communities where patients need these medical services most.”
Exalt Health is known for its team-based approach to treating individuals with neurological, musculoskeletal, rheumatic, cardiovascular and other complex conditions. Its inpatient rehabilitation programs include joint replacement therapy, arthritis care, stroke recovery, pain management, wound care and more, each tailored to the unique needs of the patient.
“At Exalt Health, our mission is to help patients regain independence and return to the life they love,” said Jeff Crawford, chief development officer of Exalt Health. “We are excited to bring our specialized inpatient rehabilitation services to the Panama City community and expand access to the high-quality, compassionate care our patients deserve. Through our continued partnership with Ryan Companies, we are creating a hospital designed to support exceptional clinical outcomes while serving as a trusted healthcare resource for patients, families, physicians, and the communities we serve.”
The project team includes E4H Architecture as the architect and Panhandle Engineering as the civil engineer.
The Panama City project is part of Ryan’s growing national healthcare portfolio and marks a continued presence in the Florida market, where the company has successfully delivered numerous projects over the past two decades.
About Ryan Companies
Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, designer, builder, capital markets advisor and real estate manager, with a focus on creating places for people to thrive. Ryan’s work spans a wide range of sectors and product types, including healthcare, housing, industrial, mission critical, mixed-use, office, and retail. Built on the foundation of integrity, honesty and community, Ryan has grown to over 1,600 team members in 16 offices and has completed projects in nearly every state. For more information, visit ryancompanies.com.
About Exalt Health
Exalt Health is headquartered in Garland, Texas. Backed by Nautic Partners and the founding management team, Exalt Health was formed to build a best-in-class inpatient rehabilitation platform that consistently delivers industry leading patient outcomes via a proven operational playbook based on efficiency and flexibility. Exalt Health hospitals are designed to treat patients with complex physical and cognitive problems. Our hospitals operate a full range of inpatient programs delivered by a multidisciplinary team of highly trained professionals. Our hospitals are accredited by CIHQ.
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