"College Street Partners has a uniquely creative, thoughtful and strategic approach to real estate. They are always concerned about balancing quality care with our financial constraints. After 3 years of working with them, I view them as an invaluable resource."

- Stephen Laverty, President & CEO, Northeast Health System

Background
Northeast Health Systems (NHS) is an independent network of four community hospitals that draw from and serve patients across 16 suburban Boston communities. For over 100 years, NHS has held a dominant market share with its flagship 227 bed, acute care Beverly Hospital. Rapidly shifting demographics, however, and the encroachment of large city hospitals into its traditional markets compelled NHS to re-assess its competitive position.

Problem & Opportunity
Northeast Health System’s ambulatory care center was outdated and needed extensive capital improvements. At the same time, outpatient demand was growing.

Solution
NHS hired College Street Partners (CSP) to analyze the viability of rehabbing its existing center to accommodate growth, and the potential for a replacement facility. CSP performed a utilization analysis of the existing real estate, determined financial feasibility of several adaptive re-use/ modernization plans, and did cost/benefit scenarios for new construction.

NHS decided to develop an all-new, state-of-the-art outpatient care and day surgery center. College Street Partners was tasked with finding a new site that was conveniently accessible for current patient markets, and strategically located for tapping new geographic markets. CSP identified a site, hired and collaborated with a nationally recognized healthcare design firm and fast-track commercial contractor to design and build a striking, new ambulatory care center.

Result
NHS arrived first to market and years ahead of the large city hospital networks with its new, 100,000 square foot center. The new outpatient & day surgery center affords:

• Optimal efficiencies in patient flow
• Better integration of care
• Cutting edge diagnostics
• 4 fully equipped surgical suites
• PACS in all patient care areas
• Electronic medical records
• Flexible planned space for easy response to changing service trends
• Privacy, comfort and convenience for patients, doctors and medical staff
• Leasable office space for select groups of physician practices
• The ability to deliver excellent patient care within a lower cost structure