NexCore Group And HCA Healthcare Break Ground On New Ambulatory Surgery Center In Orem, Utah

The joint venture ASC will help meet the need for increased surgical support in the rapidly growing Central Utah Valley.

Denver, CO /PRNewswire-PRWeb/ - NexCore Group, a leading healthcare real estate development, investment, and management company, has partnered with one of the nation's leading providers of healthcare service, HCA Healthcare, to celebrate the groundbreaking of a new ambulatory surgery center (ASC) in Orem, Utah. The ceremony took place on April 16, 2024.

The new ASC will span 41,000 square feet and include 10 operating rooms, making it one of the largest surgery centers in HCA Healthcare's nationwide portfolio. This facility is designed to support the growth of HCA Timpanogos Regional Hospital and its medical providers in the rapidly expanding Central Utah Valley. The ASC joint venture includes HCA's Surgery Ventures Group, and Central Utah Surgical Center (CUSC), an independent surgical group based in nearby Provo.

This collaboration marks another project in a series of successful partnerships between NexCore and HCA. Austin Manning, CEO of HCA Timpanogos Regional Hospital, noted, "NexCore's involvement in markets such as Denver and Houston has been beneficial. They were instrumental in addressing initial challenges with this project and have worked diligently to create a plan that aligns with the needs of the ASC's physicians."

Incorporating CUSC into the building not only accommodates the group's growth but also establishes the ASC as a premier surgical center in the intermountain region. Dr. Rob Faux, a CUSC surgeon, expressed enthusiasm about the expansion: "Our high patient volumes mean we're constantly at capacity. This new facility will allow us to expand and nearly double our current capacity."

Scheduled to open in the second quarter of 2025, the ASC represents Phase 1 of a two-part development plan on a 6-acre parcel adjacent to Timpanogos Regional Hospital. Later this year, construction will begin on a 54,000 square-foot medical outpatient building (MOB) featuring outpatient services and offices for HCA providers as well as independent medical practices. NexCore is the developer for the MOB and has started pre-leasing for the space.

Teaming with NexCore to deliver the project are architect Boulder Associates and general contractor Layton Construction. Debt financing is being handled by Wintrust Bank, with equity provided by a joint venture with NexCore's co-GP Fund and physician tenants.

NexCore President Jarrod Daddis remarked, "The Utah Central Valley is one of the fastest-growing regions in the country. This new surgery center, a collaborative effort between NexCore Group, HCA Healthcare, and Central Utah Surgical Center, will cater to the community's present and future healthcare needs. I'd like to extend my gratitude to the entire team for their dedication in launching the first phase, with a new adjacent medical outpatient building to follow shortly."

To view a video of the groundbreaking ceremony, visit this link: https://vimeo.com/936735502

About NexCore Group LLC
NexCore Group LLC is a national healthcare real estate investment and development company that focuses on acquiring, developing, owning, and managing purpose-built facilities for medical, science and technology, and senior living. Since its founding in 2004, NexCore has successfully completed over $5.7 billion in real estate transactions throughout 29 states, developed and acquired over 16 million square feet of medical, science, and senior living communities, and currently manages over $3.3 billion in assets spanning 7.6 million square feet. NexCore is headquartered in Denver, with regional offices in Dallas, Phoenix and Los Angeles.