Florida Atlantic University and Boca Raton (Fla.) Community Hospital signed a letter of understanding for a land swap enabling the hospital to build a 550-bed replacement on the university's campus. The university agreed to transfer at least 38 acres on its campus to the hospital, while the hospital agreed to locate and buy land to transfer to the university. Paul Risner, the hospital's vice president and general counsel, said the estimated $300 million to $500 million cost for the replacement hospital would be financed through bonds, operating revenue and donations. Boca Raton Community's current facility is 43-years old and has a capacity for 400 beds. A university spokeswoman said the addition of an on-campus teaching hospital would support efforts to expand the university's two-year medical school, operated with the University of Miami's Miller School of Medicine, to a four-year school with residencies. -- by Melanie Evans
Fla. hospital, school agree on 550-bed replacement
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