QUEEN CREEK, Ariz.Phoenix-based Banner Health has broken ground on its newest hospital facility: Banner Ironwood Medical Center near Queen Creek. The 24-bed hospital is scheduled to open in fall 2009 and will have a full-service emergency department and 19 private treatment areas. The 220,000-square-foot facility also includes four operating suites for inpatient and outpatient surgery. The cost of the first phase of construction is $128 million, according to Banner. Future construction will allow the facility to have capacity for up to 500 beds on the 80-acre site.
RIVERSIDE, Calif.Kaiser Permanente has closed on its purchase of Moreno Valley Community Hospital in Riverside, for $53 million. Kaiser intends to operate the 72-bed hospital to serve the local community while investing in new technology and other improvements. The sale is part of a four-party transaction that includes Select Healthcare, a private group of investors based in Del Mar, Calif., and Valley Health System bondholders. Fred Harder, Valley Healths chief executive officer, said the sale begins a new chapter in our efforts to lead Valley Health System back to financial health. The public healthcare district declared Chapter 9 bankruptcy last December.