Catalyst and Heitman Break Ground on a New Inpatient Rehabilitation Hospital in Ohio
September 23, 2024
PENSACOLA, FL – Catalyst Healthcare Real Estate (Catalyst), a full-service healthcare real estate development and investment firm, and Heitman, a $50 Billion global real estate investment management firm, has officially broken ground on a new 51,000-square-foot inpatient rehabilitation hospital (IRH) in South Point, Ohio.
"Over the past five years, we have built a strong partnership with PAM Health, focusing on the development and construction of inpatient rehabilitation facilities nationwide," said Alex Stacy, President & Chief Operating Officer of Catalyst. "We are thrilled to address the unmet demand in South Point and the surrounding communities with this new hospital."
This new IRH will be the ninth hospital Catalyst has delivered for PAM Health, and the second in Ohio. The location was strategically chosen due to its convenient placement along Highway 52 and its proximity to several local hospitals, serving as the only IRH within a 50-mile radius.
“Through this development, we are capitalizing on a unique opportunity to meet growing demand for accessible rehabilitative services in the South Point community. We have a strong partner in Catalyst in developing this specialized health care center in the community,” said Brian Pieracci, Head of Private Equity – North America at Heitman.
The new IRH will feature 42 beds and will be 100% leased and operated by PAM Health. It will provide on-site, inpatient and outpatient physical, occupational, and speech therapy services, offering comprehensive and individualized treatment aimed at enhancing patient recovery and outcomes.
“With our new location in South Point, we will be able to bring quality rehabilitation services to residents of the tri-state region of Ohio, West Virginia, and Kentucky,” said Anthony Misitano, Founder and CEO of PAM Health. “In addition, our hospital will also add close to 200 jobs to the area.”
Catalyst has successfully completed five PAM Health inpatient rehabilitation hospitals, is actively constructing four more, including South Point, and has three additional projects in development. Catalyst is excited to expand its geographic presence in Ohio and further enhance access to post-acute care across the country.
ABOUT CATALYST HEALTHCARE REAL ESTATE
Catalyst is a national, full-service healthcare real estate investment firm. Our platform of integrated real estate deliverables is specifically designed for the ever-evolving landscape of healthcare. Our team seeks to positively impact healthcare with strategic investment in development, acquisition, and strategy services. For more information, please visit catalysthre.com.
Contact: Bella Costa, Marketing Coordinator bcosta@catalysthre.com | 252-675-3465
ABOUT PAM HEALTH
PAM Health, based in Enola, Pennsylvania, provides post-acute healthcare services through more than 100 long-term acute care hospitals, medical rehabilitation hospitals, behavioral health hospitals, as well as wound care clinics and outpatient physical therapy locations, in 22 states. PAM Health is committed to providing high-quality patient care and outstanding customer service, coupled with loyal, dedicated, and highly trained staff, to be the most trusted and impactful source for healthcare services in every community it serves. Learn more at PAMHealth.com.
Contact: Lisa MacLean, Sr. EVP and Chief Government Relations Officer| 717-731-9660
ABOUT HEITMAN
Heitman is a global real estate investment management firm with nearly $50 billion in assets under management as of June 30, 2024. Founded in 1966 and headquartered in Chicago, Heitman has 10 offices worldwide and is an active participant in the global real estate property and capital markets. Heitman makes real estate investments through private equity, debt, and publicly traded real estate securities.
Contact: pro-Heitman@prosek.com