COLUMBUS, Ohio—Construction on a $1.1 billion, 20-story expansion is well under way at Ohio State University and the school has renamed its medical center in honor of an alumnus who donated $100 million for the project.
Regional News/Midwest: Ohio State University alum donates $100 million for medical center expansion, and other news
University officials in Columbus announced the Ohio State University Medical Center is now the Wexner Medical Center at Ohio State University.
Billionaire Leslie Wexner graduated from the school in 1959 and is the founder and current chairman and CEO of Limited Brands. He's also a former chairman of the school's board of trustees. The Ohio State University Health System includes the 976-bed medical center and 202-bed James Cancer Hospital and Solove Research Institute. OSU President Gordon Gee said the school's financial outlook is positive with its credit rating holding steady. Strong financials and donations such as Wexner's allowed the project—scheduled for completion in 2014—to happen. Construction started in 2010, but the idea for the project has been around for a decade, said Dr. Steven Gabbe, CEO of the medical center and senior vice president for health sciences.
CHICAGO—Presence Health is the name of the new 12-hospital organization formed from the November merger between Provena Health, Mokena, Ill., and Resurrection Health Care in Chicago. “The sisters chose a name that respects the legacies of the founding health systems, while also advancing the new organization in a way that balances innovation with the mission and values of Catholic healthcare,” Sandra Bruce, president and CEO of the new system, said in a news release. “Presence Health embodies the act of being present in every moment we share with those we serve and is the cornerstone of an effective patient, resident and family-centered care environment. It also signifies a spiritual connection, as we believe we are called to serve with a spirit of hope and healing.” Bruce is Resurrection's former president and CEO. Financial details weren't disclosed when the deal closed in November. The merger created Illinois' largest Catholic healthcare group with Provena's six hospitals combining with Resurrection's six hospitals. The name will be added to the hospitals in the coming months, and officials have yet to release a new logo.
OAKBROOK TERRACE, Ill.—Midwest Heart Specialists, a cardiac specialty group based in Oakbrook Terrace, has formally integrated with Advocate Medical Group of Oak Brook, Ill. The organization is now known as Midwest Heart Specialists-Advocate Medical Group. The parties signed a letter of intent in June 2011. Financial details of the integration were not disclosed. Midwest Heart Specialists was established in 1973, and its 50 doctors practice in clinics in the Chicago suburbs and in Rockford, Ill. The doctors will continue to provide services in their current locations, according to an Advocate Medical news release. “Midwest Heart Specialists-Advocate Medical Group is poised to expand cardiology services for our patients in northern and central Illinois,” Dr. James Dan, president of Advocate Medical Group, said in the release. Advocate Medical Group includes more than 800 physicians and is part of nine-hospital Advocate Health Care, also based in Oak Brook.
CHICAGO—A joint venture is going forward with plans to build a landing facility in the Illinois Medical District for helicopters and vertical-takeoff aircraft. Afco Nighthawk Vertiport—a combined venture of Afco of Dulles, Va., and Hoffman Estates, Ill.-based Nighthawk Services—told the Illinois Medical District Commission it intends to finance and build a “vertiport” on a 10-acre parcel, Afco CEO Charles Stipancic said in an e-mail. The facility will be free for medical use by the four hospitals in the district—Rush University Medical Center, the University of Illinois Medical Center, Stroger Hospital of Cook County and the Jesse Brown VA Medical Center—and earn revenue from corporate, private and commercial customers, Sam Pruett, the commission's executive director, has said. The commission will lease the land for the facility, which would include storage areas for aircraft, fueling equipment and parking. The landing area will be designed for helicopters and vertical-takeoff planes such as the Bell/Agusta BA609 Tiltrotor. The vertiport project is one of four properties the medical district commission hopes will generate enough lease revenue to service $40 million in debt it issued in 2006. The commission, which is charged with promoting health- and medical-related development in the 560-acre district on the city's West Side, had to scrap two projects for financial reasons and another due to community objections.
—Crain's Chicago Business
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