Top health systems account for $21.8b of U.S. construction projects
Ten U.S. health systems account for more than $21.8 billion of current and upcoming U.S. construction projects, according to a report from BuildCentral.
“The healthcare sector continues to drive a major part of the construction market,” said Rick Kang, CEO at BuildCentral. “The top health systems have more than $12.2 billion in active projects plus another $9 billion in the planning stages.”
According to the report, three health systems each have active projects totaling at least $2 billion in value. Sutter Health, with its $2.1 billion California Pacific Medical Center Cathedral Hill Campus project in San Francisco, leads the list. New York Presbyterian Healthcare System has four major active projects in the New York City area. Scripps Health is currently replacing its Scripps Memorial Hospital in La Jolla, Calif., to the tune of $2 billion.
Health systems with major planned projects include the University of Maryland Medical System with multiple projects with combined estimated value of $1.6 billion, Virtua Health with $1.5 billion, and Kaiser Permanente with $1.4 billion.
BuildCentral, Inc., is the leading provider of U.S. construction project data and analytics with a specialization in medical, hospitality, and multifamily projects. The full report can be downloaded here.