The Sanders Trust $21M Development Breaks Ground in Iowa6/7/2017
BIRMINGHAM, Ala. – The Sanders Trust, a Birmingham-based healthcare real estate and development firm, has broken ground on a $21 million rehabilitation hospital in Des Moines, Iowa. The Mercy Rehabilitation Hospital is a joint venture between Mercy Medical Center, a nonprofit corporation managed by Catholic Heath Initiatives of Iowa, and Kindred Healthcare (NYSE: KND).
The Sanders Trust was selected to finance, construct, and own this 50-bed specialty hospital to serve stroke, traumatic brain injury, spinal cord injury, and similar patients. When completed, it will be the first freestanding rehabilitation facility in Iowa. The 58,000-square-foot two-story facility will sit on five acres at the corner of N.W. 114th Street and Campus Drive, with construction scheduled to be completed in summer 2018.
“Mercy Rehabilitation Hospital will be the first facility of its kind in Iowa,” stated Rance Sanders, president and CEO of The Sanders Trust. “Patients will now be able to transition out of hospitals sooner and recover in comfort at a specialized rehabilitation hospital. The Sanders Trust is pleased to be leading the development of such a momentous improvement to the care of Iowans.”
Kindred will manage the day-to-day operations of the new facility. Features will include a therapy gym with a brain injury therapy section and a therapy courtyard with transitional therapy surfaces. The average length of stay will be 13 days.
ABOUT THE SANDERS TRUST
The Sanders Trust develops and acquires medical office buildings, inpatient rehabilitation hospitals and specialty hospitals nationwide. Headquartered in Birmingham, Alabama, The Sanders Trust has been a recognized leader in the investment community for healthcare clients since its inception in 1989 and has developed or acquired medical properties in 23 states valued at more than $1 billion.
For more information on The Sanders Trust, visit www.SandersTrust.com.