Mayo Clinic is investing nearly $1.9 billion in its Phoenix campus as part of the Bold. Forward. Unbound. strategy being implemented across the system's multistate footprint.
The project covers 1.2 million square feet, including a new procedural building, an expanded specialty care building, 11 new operating rooms and two new patient units that support 48 beds, according to a Monday news release.
Related: Mayo Clinic announces redevelopment at main campus
A two-story indoor promenade will wrap around the front of the campus, and complementary clinical services will be clustered together in so-called care neighborhoods, according to the release. Mayo Clinic is starting the design phase this year and expects to complete the project in 2031.
The project will increase the campus' clinical space by nearly 60%, Dr. Richard Gray, CEO of Mayo Clinic in Arizona, said in the release.
Mayo Clinic President and CEO Dr. Gianrico Farrugia said the Arizona investment is the last major piece of the Bold. Forward. Unbound. strategy. Mayo announced in 2022 a $432 million hospital expansion at its Jacksonville, Florida, campus, followed by a $5 billion redevelopment plan at its main campus in Rochester, Minnesota, announced in 2023.
In 2024, Mayo Clinic completed a $155 million bed tower expansion in Mankato, Minnesota, and opened a new $215 million hospital in La Crosse, Wisconsin.
Mayo Clinic reported net income of $2.38 billion in the first nine months of 2024, compared with $1.26 billion in the year-ago period. The system is expected to release its full-year 2024 results this month.
