The Houston healthcare real estate market continues to demonstrate solid fundamentals with job growth in the healthcare sector and steady construction and leasing activity. The Texas Medical Center is developing a new 30-acre research campus called TMC3 that is expected to begin construction in 2019 and be completed in 2022, adding 1.5 million square feet of research space. Healthcare employment in Houston rebounded in the second quarter of 2018 after a loss in 2017, adding 4,000 jobs. Investors view medical office buildings as an attractive investment due to their stable occupancy rates.
The Houston healthcare real estate market continued to expand in the suburbs in the first half of 2019. Major health systems are investing in expanding their suburban footprint through satellite campuses and outpatient centers to accommodate Houston's growing population. Outpatient clinics and services now account for almost half of hospital revenues. Several health systems completed expansions or announced new projects in the suburbs. The medical office market saw increased vacancy and lower investment sales volumes compared to previous years, though rental rates increased slightly. Overall, the outlook for Houston's healthcare real estate remains positive as the sector continues to be a major driver of the local economy and attracts further investment.
C&Wus2010 Medical Office Building Surveybarricade
The document discusses the potential impacts of healthcare reform and increasing insurance coverage on the medical office building (MOB) market. It notes that insuring 30 million new patients could drive demand for 60 million square feet of new MOB space. However, others argue existing patients will utilize new coverage, limiting new space needs. Separately, looming physician shortages may be a more significant factor, as the supply of new doctors will remain constrained in the short-to-mid term due to training timelines. Overall, the impacts of reform on MOB demand remain uncertain, as physician shortages pose real problems for serving growing patient numbers.
The document provides an overview of the Indian pharmaceutical market. It discusses key trends in the market including its size, growth drivers, segments and future scope. Some of the main points covered are:
- The Indian pharma market is the 3rd largest by volume and 10th by value, with domestic sales of $6 billion and exports of $6.3 billion. It is expected to grow at 14% annually to $47 billion by 2018.
- Branded generics dominate at 90% of the market. Chronic therapies are growing faster than acute therapies. Rural markets represent 20% of the market currently and are seen as the next growth frontier.
- Key growth drivers include population expansion, a growing middle class
India Pharmaceutical 2015 A McKinsey reportDevansh Doshi
The McKinsey report predicts that the Indian pharmaceutical market will triple in size by 2015, making India one of the top 10 pharmaceutical markets in the world. Rising incomes, expanded health insurance coverage, and growth in healthcare infrastructure will fuel a pharmaceutical market worth $20 billion by 2015, more than double its current size. Chronic diseases will also become more prevalent in India, increasing demand for pharmaceutical treatments. The report finds that rural and smaller city markets will account for almost half of the growth in the pharmaceutical industry by 2015.
1) By 2020, the Indian pharmaceutical industry is projected to grow to $50 billion and become one of the top 10 pharmaceutical markets globally, driven by strong domestic demand and increased exports.
2) Generics are expected to continue dominating the market, accounting for around 90% of the pharmaceutical formulation market. Patent-protected drugs will make up about 10% of the market.
3) Increased healthcare infrastructure investment, rising incomes, health insurance expansion, and government programs are expected to drive growth in domestic pharmaceutical demand and help increase accessibility of drugs across India. Chronic diseases will account for over half of the pharmaceutical market.
Industry Coverage Report on Indian Pharmaceuticals Sector which encapsulates the structure, drivers, key trends, concentration and current scenario. Prepared by me in association with the Alpha Investment & Research Club, FMS Delhi.
The document discusses projections for growth in the Indian pharmaceutical market from 2005 to 2015. Some key points:
1) The market is expected to triple in size, growing from $6.3 billion in 2005 to about $20 billion by 2015, making it one of the top 10 largest markets globally.
2) The incremental growth of $14 billion would make India the 3rd largest growth market after the US and China over this period.
3) Key drivers of growth are expected to be rising incomes, expansion of healthcare infrastructure, greater health insurance coverage, and increasing prevalence of chronic diseases.
The document provides an overview of the healthcare sector in India. Some key points:
- The Indian healthcare sector is expected to grow at a CAGR of 22% from 2016-2022 to reach $372 billion.
- Rising incomes, growing health awareness, and increasing access to insurance are driving growth in healthcare spending.
- Private sector participation is strong, accounting for around 74% of total healthcare expenditure.
- Government initiatives like increased FDI, tax benefits, and developing India as a medical tourism hub are supporting industry growth.
- Emerging trends include a shift to lifestyle diseases, expansion to tier 2/3 cities, growing telemedicine and home healthcare markets.
The Houston healthcare real estate market continued to expand in the suburbs in the first half of 2019. Major health systems are investing in expanding their suburban footprint through satellite campuses and outpatient centers to accommodate Houston's growing population. Outpatient clinics and services now account for almost half of hospital revenues. Several health systems completed expansions or announced new projects in the suburbs. The medical office market saw increased vacancy and lower investment sales volumes compared to previous years, though rental rates increased slightly. Overall, the outlook for Houston's healthcare real estate remains positive as the sector continues to be a major driver of the local economy and attracts further investment.
C&Wus2010 Medical Office Building Surveybarricade
The document discusses the potential impacts of healthcare reform and increasing insurance coverage on the medical office building (MOB) market. It notes that insuring 30 million new patients could drive demand for 60 million square feet of new MOB space. However, others argue existing patients will utilize new coverage, limiting new space needs. Separately, looming physician shortages may be a more significant factor, as the supply of new doctors will remain constrained in the short-to-mid term due to training timelines. Overall, the impacts of reform on MOB demand remain uncertain, as physician shortages pose real problems for serving growing patient numbers.
The document provides an overview of the Indian pharmaceutical market. It discusses key trends in the market including its size, growth drivers, segments and future scope. Some of the main points covered are:
- The Indian pharma market is the 3rd largest by volume and 10th by value, with domestic sales of $6 billion and exports of $6.3 billion. It is expected to grow at 14% annually to $47 billion by 2018.
- Branded generics dominate at 90% of the market. Chronic therapies are growing faster than acute therapies. Rural markets represent 20% of the market currently and are seen as the next growth frontier.
- Key growth drivers include population expansion, a growing middle class
India Pharmaceutical 2015 A McKinsey reportDevansh Doshi
The McKinsey report predicts that the Indian pharmaceutical market will triple in size by 2015, making India one of the top 10 pharmaceutical markets in the world. Rising incomes, expanded health insurance coverage, and growth in healthcare infrastructure will fuel a pharmaceutical market worth $20 billion by 2015, more than double its current size. Chronic diseases will also become more prevalent in India, increasing demand for pharmaceutical treatments. The report finds that rural and smaller city markets will account for almost half of the growth in the pharmaceutical industry by 2015.
1) By 2020, the Indian pharmaceutical industry is projected to grow to $50 billion and become one of the top 10 pharmaceutical markets globally, driven by strong domestic demand and increased exports.
2) Generics are expected to continue dominating the market, accounting for around 90% of the pharmaceutical formulation market. Patent-protected drugs will make up about 10% of the market.
3) Increased healthcare infrastructure investment, rising incomes, health insurance expansion, and government programs are expected to drive growth in domestic pharmaceutical demand and help increase accessibility of drugs across India. Chronic diseases will account for over half of the pharmaceutical market.
Industry Coverage Report on Indian Pharmaceuticals Sector which encapsulates the structure, drivers, key trends, concentration and current scenario. Prepared by me in association with the Alpha Investment & Research Club, FMS Delhi.
The document discusses projections for growth in the Indian pharmaceutical market from 2005 to 2015. Some key points:
1) The market is expected to triple in size, growing from $6.3 billion in 2005 to about $20 billion by 2015, making it one of the top 10 largest markets globally.
2) The incremental growth of $14 billion would make India the 3rd largest growth market after the US and China over this period.
3) Key drivers of growth are expected to be rising incomes, expansion of healthcare infrastructure, greater health insurance coverage, and increasing prevalence of chronic diseases.
The document provides an overview of the healthcare sector in India. Some key points:
- The Indian healthcare sector is expected to grow at a CAGR of 22% from 2016-2022 to reach $372 billion.
- Rising incomes, growing health awareness, and increasing access to insurance are driving growth in healthcare spending.
- Private sector participation is strong, accounting for around 74% of total healthcare expenditure.
- Government initiatives like increased FDI, tax benefits, and developing India as a medical tourism hub are supporting industry growth.
- Emerging trends include a shift to lifestyle diseases, expansion to tier 2/3 cities, growing telemedicine and home healthcare markets.
All eyes on pharmaceutical expenditures in the hospital sectorAxon Healthcare
Expensive hospital drugs have been the subject of a fierce public and political debate in The Netherlands for almost two years.
This whitepaper will delve deeper into this debate by providing an overview, relevant background information and a short analysis. This whitepaper will also explain which measures are being considered to curb pharmaceutical expenditures. These will likely focus on limiting open access in the hospital sector, stimulating the use of financial arrangements, and promoting joint procurement of medicines by small European countries.
Foreign investment in hospital sector in india by Dr.Mahboob ali khan MHA,CPH...Healthcare consultant
: This study examines the status of and trends in foreign investment inflow into the Indian hospital sector and highlights the emerging issues from 2000 to 2014, the era of liberalised foreign investment. During this period a significant number of multinational players focussed on the Indian hospital sector—expanding their presence through partnerships and investments in joint venture projects. Though foreign investment inflow to hospitals increased hundredfold during the period, an examination of selected major corporate hospitals of India, however, reflects that international investments constitute a small share within total financing; rather, it is the long‐term domestic borrowing that dominates.
The document provides an overview of the Indian healthcare industry and infrastructure. It notes that the industry is growing rapidly at 17% CAGR and is projected to reach $280 billion by 2020. Key drivers of growth include rising incomes, health awareness, lifestyle diseases, and insurance penetration. However, healthcare spending and infrastructure in India remains low compared to global standards. The private sector dominates healthcare delivery, accounting for around 80% of total spending. The government is taking initiatives to boost diagnostic infrastructure through public-private partnerships.
The document provides an overview of trends in the Indian healthcare sector. Some key trends include:
1) Telemedicine is emerging rapidly, with major hospitals adopting telemedicine services to bridge rural-urban divides. The telemedicine market is expected to grow at 20% annually.
2) Healthcare providers are expanding to tier 2 and 3 cities to boost access. The government is providing tax relief to encourage this.
3) There is a shift from communicable to lifestyle diseases as incomes rise and urbanization grows. Around 50% of inpatient spending is now for issues like high cholesterol.
4) Management contracts are becoming more common as hospitals seek additional revenue streams. Home healthcare is also growing to save costs.
The pharmaceutical industry will be characterised by heightened uncertainty in 2017, mainly due to inevitable changes to the politicised US health system.
Pricing is expected to remain the key issue, and providers of goods and services, especially those with questionable cost-benefit profiles, can expect further scrutiny. Emerging pharmaceutical markets are also in a cycle of under-performance compared with developed markets.
Despite all the challenges facing the healthcare sector, we nevertheless maintain a positive outlook. Investors will continue to be attracted to the robust fundamentals that support innovation and the consequential generation of high margins.
Indian Pharma Industry Presentation 010709Workosaur.com
- The Indian pharmaceutical market is worth $13 billion and expected to reach $12-13 billion by 2012, with the domestic retail market crossing $10 billion by 2010. Exports are projected to reach $22.2 billion by 2012.
- Anti-infectives are the largest therapeutic category, accounting for 19% of the domestic market. Acute therapy currently dominates sales but the chronic segment is expected to fuel future growth.
- Exports are a major growth driver and are projected to surpass the domestic market by 2010. Generics will be a key growth area, with Indian firms' US market share forecast to exceed 6% by 2011-2012. India also maintains a focus on bulk drug
COVID-19 and its Impact on the Biopharma Financing and Deal EnvironmentTim Opler
The document provides an overview of the impact of the COVID-19 pandemic on the biopharmaceutical sector. It discusses the direct impact on the pharmaceutical industry, including decreased healthcare utilization, clinical trial delays, supply chain issues, and decreased drug usage and revenue. It also covers the indirect effects, such as potential government budget constraints, drug price pressures, increased social division, and response from regulators to encourage testing and device approvals during the pandemic.
Trends in Oncology Pharmaceuticals Business DevelopmentTim Opler
This presentation provides an overview of the evolving marketplace for oncology transactions and is a summary of discussion materials shared by Torreya at the Sachs Conference on September 26, 2019 in Basel, Switzerland.
Indian pharmaceutical market outlook enhanced purchasing powerAnil Gangwar
The Indian pharmaceutical market is growing rapidly due to factors such as increased healthcare spending, rising incomes, and expansion of healthcare access in rural areas. Rural and tier 2/3 cities now account for a major share of sales and are attracting more investment from large pharmaceutical companies seeking future growth opportunities. The market is expected to continue growing strongly, with certain therapeutic segments such as diabetes drugs experiencing especially high growth. Government efforts to improve infrastructure and encourage public-private partnerships will further aid expansion of the sector.
Abstract: Medical tourism is a growing phenomenon with policy implications for health systems, particularly of destination countries. Private actors and governments in Southeast Asia are promoting the medical tourist industry. This article presents a conceptual framework that outlines the policy implications of medical tourism's growth for health systems, drawing on the cases of Thailand, Singapore and Malaysia and other hubs for medical tourism. Variables for further analysis of the potential impact of medical tourism on health systems are also identified. The framework can provide a basis for empirical, in country studies weighing the benefits and disadvantages of medical tourism for health systems. The policy implications described are of particular relevance for policymakers and industry practitioners in other Southeast Asian countries with similar health systems where governments have expressed interest in facilitating the growth of the medical tourist industry. This article calls for a universal definition of medical tourism and medical tourists to be enunciated, as well as concerted data collection efforts, to be undertaken prior to any meaningful empirical analysis of medical tourism's impact on health systems.
The document provides an overview of the pharmaceutical market in Pakistan. It includes key facts and figures on the size and growth of the Pakistani pharmaceutical market, which reached PKR 343 billion in 2017. It also details the country's healthcare system structure, leading therapeutic classes, and import/export partners. The top 100 pharmaceutical companies account for over 95% of the market by both value and units. The market is growing at a projected rate of 11.42% annually.
The summary provides the following key points in 3 sentences:
Houston's healthcare real estate market continued growing in 2019 with increasing demand for medical properties driven by population growth and aging demographics. While the total vacancy rate rose to 15% with new supply, average rental rates still increased from $24.09 to $24.57 per square foot. New hospitals, medical office buildings, and facilities such as urgent care centers were delivered to meet ongoing strong demand across various healthcare sectors in the Houston area.
The Houston healthcare real estate market continues to expand rapidly. The medical office sector is growing the fastest nationally, and Houston in particular benefits from population growth and an aging population driving increased healthcare needs. While some major healthcare REITs have slowed acquisitions due to interest rate concerns, private buyers are increasingly investing in medical office buildings and other healthcare properties due to their stability. Houston hospital systems are undertaking numerous expansion projects to increase capacity and improve access to healthcare across the greater metro region and nearby counties. Overall, the Houston healthcare industry is expected to add 9,000 new jobs in 2019 as growth and investment in the sector continues.
The document discusses how the COVID-19 pandemic has negatively impacted Houston's healthcare real estate market. Healthcare systems have seen their bottom lines impacted by the cancellation of profitable elective surgeries and costs associated with treating COVID-19 patients. As a result, previously planned expansions have been put on hold or scaled back as healthcare providers reduce expenses and medical office leasing activity has slowed. Some construction projects are still moving forward but larger, more ambitious capital projects have been delayed until the effects of the pandemic subside.
Houston Healthcare Real Estate Market Report - Year End 2015Coy Davidson
The Texas Medical Center in Houston announced plans to expand its life science research campus by 30 acres and $1.5 billion to establish Houston as a new life science hub. Additionally, Baylor College of Medicine and CHI St. Luke's Hospital plan to develop a $1.1 billion medical campus featuring a medical school, cardiovascular research institute, and nationally recognized hospital. The expansions aim to solidify Houston's position as a leader in human health and medical research.
Houston's medical office market saw positive absorption of 662,000 square feet in 2013, with most occurring in the first half of the year. The average vacancy rate decreased to 11.7% while average rental rates increased slightly. Class A properties saw the largest decrease in vacancy, falling to 7.1% from 8.3% the prior quarter. Absorption was positive across all classes in the second half of the year, led by Class A. Leasing activity reached 391,000 square feet, mostly in smaller transactions. Sales volume slowed but included the $15.2 million purchase of a 58,000 square foot hospital. The Texas Medical Center continues to be a major economic driver for the Houston area.
Houston Medical Office Report and Healthcare CommentaryCoy Davidson
This document summarizes healthcare real estate trends in the Houston area in 2014. It notes that the population is growing rapidly and demand for healthcare services is increasing. As a result, major hospital systems are expanding by constructing new facilities and medical office buildings in the suburbs to improve access. In the Texas Medical Center, several large hospital projects were underway or completed in 2014 that will add over a million square feet of new space. Freestanding emergency departments are also proliferating as another strategy to expand access and capture market share. Overall, the healthcare sector in Houston showed no signs of slowing down despite a downturn in the energy industry.
Houston's medical office market saw improving conditions in the first half of 2013, with vacancy dropping 160 basis points to 11.3% and net absorption of 467,000 square feet. Rental rates saw a slight decrease. Class A properties saw the largest decreases in vacancy and the most positive net absorption. The market is expected to continue benefiting from disciplined development and strong job and economic growth in the Houston region. The large Texas Medical Center anchors the market and continues to expand its facilities and institutions.
YE 2017 | Houston Healthcare | Research & Forecast ReportLisa Bridges
Healthcare providers in the Houston area are expanding to outer suburban markets while reducing the number of hospital beds. They are focusing on outpatient care and opening more ambulatory surgery centers, clinics, and freestanding emergency centers. Vacancy rates for medical offices increased slightly in 2017 while rents rose slightly and demand remained strong from investors.
The mid-Atlantic medical office market report summarizes economic and market conditions for the first half of 2014. Key points include: healthcare employment increased but at a slower pace than previous years; several significant medical office portfolio and building sales occurred; new construction deliveries included medical office and hospital space though leasing velocity was uneven; and demographic trends point to continued growth in the elderly population which will impact healthcare demand. Vacancy rates were highest in DC metro areas while net absorption was positive in suburban Maryland and Baltimore.
All eyes on pharmaceutical expenditures in the hospital sectorAxon Healthcare
Expensive hospital drugs have been the subject of a fierce public and political debate in The Netherlands for almost two years.
This whitepaper will delve deeper into this debate by providing an overview, relevant background information and a short analysis. This whitepaper will also explain which measures are being considered to curb pharmaceutical expenditures. These will likely focus on limiting open access in the hospital sector, stimulating the use of financial arrangements, and promoting joint procurement of medicines by small European countries.
Foreign investment in hospital sector in india by Dr.Mahboob ali khan MHA,CPH...Healthcare consultant
: This study examines the status of and trends in foreign investment inflow into the Indian hospital sector and highlights the emerging issues from 2000 to 2014, the era of liberalised foreign investment. During this period a significant number of multinational players focussed on the Indian hospital sector—expanding their presence through partnerships and investments in joint venture projects. Though foreign investment inflow to hospitals increased hundredfold during the period, an examination of selected major corporate hospitals of India, however, reflects that international investments constitute a small share within total financing; rather, it is the long‐term domestic borrowing that dominates.
The document provides an overview of the Indian healthcare industry and infrastructure. It notes that the industry is growing rapidly at 17% CAGR and is projected to reach $280 billion by 2020. Key drivers of growth include rising incomes, health awareness, lifestyle diseases, and insurance penetration. However, healthcare spending and infrastructure in India remains low compared to global standards. The private sector dominates healthcare delivery, accounting for around 80% of total spending. The government is taking initiatives to boost diagnostic infrastructure through public-private partnerships.
The document provides an overview of trends in the Indian healthcare sector. Some key trends include:
1) Telemedicine is emerging rapidly, with major hospitals adopting telemedicine services to bridge rural-urban divides. The telemedicine market is expected to grow at 20% annually.
2) Healthcare providers are expanding to tier 2 and 3 cities to boost access. The government is providing tax relief to encourage this.
3) There is a shift from communicable to lifestyle diseases as incomes rise and urbanization grows. Around 50% of inpatient spending is now for issues like high cholesterol.
4) Management contracts are becoming more common as hospitals seek additional revenue streams. Home healthcare is also growing to save costs.
The pharmaceutical industry will be characterised by heightened uncertainty in 2017, mainly due to inevitable changes to the politicised US health system.
Pricing is expected to remain the key issue, and providers of goods and services, especially those with questionable cost-benefit profiles, can expect further scrutiny. Emerging pharmaceutical markets are also in a cycle of under-performance compared with developed markets.
Despite all the challenges facing the healthcare sector, we nevertheless maintain a positive outlook. Investors will continue to be attracted to the robust fundamentals that support innovation and the consequential generation of high margins.
Indian Pharma Industry Presentation 010709Workosaur.com
- The Indian pharmaceutical market is worth $13 billion and expected to reach $12-13 billion by 2012, with the domestic retail market crossing $10 billion by 2010. Exports are projected to reach $22.2 billion by 2012.
- Anti-infectives are the largest therapeutic category, accounting for 19% of the domestic market. Acute therapy currently dominates sales but the chronic segment is expected to fuel future growth.
- Exports are a major growth driver and are projected to surpass the domestic market by 2010. Generics will be a key growth area, with Indian firms' US market share forecast to exceed 6% by 2011-2012. India also maintains a focus on bulk drug
COVID-19 and its Impact on the Biopharma Financing and Deal EnvironmentTim Opler
The document provides an overview of the impact of the COVID-19 pandemic on the biopharmaceutical sector. It discusses the direct impact on the pharmaceutical industry, including decreased healthcare utilization, clinical trial delays, supply chain issues, and decreased drug usage and revenue. It also covers the indirect effects, such as potential government budget constraints, drug price pressures, increased social division, and response from regulators to encourage testing and device approvals during the pandemic.
Trends in Oncology Pharmaceuticals Business DevelopmentTim Opler
This presentation provides an overview of the evolving marketplace for oncology transactions and is a summary of discussion materials shared by Torreya at the Sachs Conference on September 26, 2019 in Basel, Switzerland.
Indian pharmaceutical market outlook enhanced purchasing powerAnil Gangwar
The Indian pharmaceutical market is growing rapidly due to factors such as increased healthcare spending, rising incomes, and expansion of healthcare access in rural areas. Rural and tier 2/3 cities now account for a major share of sales and are attracting more investment from large pharmaceutical companies seeking future growth opportunities. The market is expected to continue growing strongly, with certain therapeutic segments such as diabetes drugs experiencing especially high growth. Government efforts to improve infrastructure and encourage public-private partnerships will further aid expansion of the sector.
Abstract: Medical tourism is a growing phenomenon with policy implications for health systems, particularly of destination countries. Private actors and governments in Southeast Asia are promoting the medical tourist industry. This article presents a conceptual framework that outlines the policy implications of medical tourism's growth for health systems, drawing on the cases of Thailand, Singapore and Malaysia and other hubs for medical tourism. Variables for further analysis of the potential impact of medical tourism on health systems are also identified. The framework can provide a basis for empirical, in country studies weighing the benefits and disadvantages of medical tourism for health systems. The policy implications described are of particular relevance for policymakers and industry practitioners in other Southeast Asian countries with similar health systems where governments have expressed interest in facilitating the growth of the medical tourist industry. This article calls for a universal definition of medical tourism and medical tourists to be enunciated, as well as concerted data collection efforts, to be undertaken prior to any meaningful empirical analysis of medical tourism's impact on health systems.
The document provides an overview of the pharmaceutical market in Pakistan. It includes key facts and figures on the size and growth of the Pakistani pharmaceutical market, which reached PKR 343 billion in 2017. It also details the country's healthcare system structure, leading therapeutic classes, and import/export partners. The top 100 pharmaceutical companies account for over 95% of the market by both value and units. The market is growing at a projected rate of 11.42% annually.
The summary provides the following key points in 3 sentences:
Houston's healthcare real estate market continued growing in 2019 with increasing demand for medical properties driven by population growth and aging demographics. While the total vacancy rate rose to 15% with new supply, average rental rates still increased from $24.09 to $24.57 per square foot. New hospitals, medical office buildings, and facilities such as urgent care centers were delivered to meet ongoing strong demand across various healthcare sectors in the Houston area.
The Houston healthcare real estate market continues to expand rapidly. The medical office sector is growing the fastest nationally, and Houston in particular benefits from population growth and an aging population driving increased healthcare needs. While some major healthcare REITs have slowed acquisitions due to interest rate concerns, private buyers are increasingly investing in medical office buildings and other healthcare properties due to their stability. Houston hospital systems are undertaking numerous expansion projects to increase capacity and improve access to healthcare across the greater metro region and nearby counties. Overall, the Houston healthcare industry is expected to add 9,000 new jobs in 2019 as growth and investment in the sector continues.
The document discusses how the COVID-19 pandemic has negatively impacted Houston's healthcare real estate market. Healthcare systems have seen their bottom lines impacted by the cancellation of profitable elective surgeries and costs associated with treating COVID-19 patients. As a result, previously planned expansions have been put on hold or scaled back as healthcare providers reduce expenses and medical office leasing activity has slowed. Some construction projects are still moving forward but larger, more ambitious capital projects have been delayed until the effects of the pandemic subside.
Houston Healthcare Real Estate Market Report - Year End 2015Coy Davidson
The Texas Medical Center in Houston announced plans to expand its life science research campus by 30 acres and $1.5 billion to establish Houston as a new life science hub. Additionally, Baylor College of Medicine and CHI St. Luke's Hospital plan to develop a $1.1 billion medical campus featuring a medical school, cardiovascular research institute, and nationally recognized hospital. The expansions aim to solidify Houston's position as a leader in human health and medical research.
Houston's medical office market saw positive absorption of 662,000 square feet in 2013, with most occurring in the first half of the year. The average vacancy rate decreased to 11.7% while average rental rates increased slightly. Class A properties saw the largest decrease in vacancy, falling to 7.1% from 8.3% the prior quarter. Absorption was positive across all classes in the second half of the year, led by Class A. Leasing activity reached 391,000 square feet, mostly in smaller transactions. Sales volume slowed but included the $15.2 million purchase of a 58,000 square foot hospital. The Texas Medical Center continues to be a major economic driver for the Houston area.
Houston Medical Office Report and Healthcare CommentaryCoy Davidson
This document summarizes healthcare real estate trends in the Houston area in 2014. It notes that the population is growing rapidly and demand for healthcare services is increasing. As a result, major hospital systems are expanding by constructing new facilities and medical office buildings in the suburbs to improve access. In the Texas Medical Center, several large hospital projects were underway or completed in 2014 that will add over a million square feet of new space. Freestanding emergency departments are also proliferating as another strategy to expand access and capture market share. Overall, the healthcare sector in Houston showed no signs of slowing down despite a downturn in the energy industry.
Houston's medical office market saw improving conditions in the first half of 2013, with vacancy dropping 160 basis points to 11.3% and net absorption of 467,000 square feet. Rental rates saw a slight decrease. Class A properties saw the largest decreases in vacancy and the most positive net absorption. The market is expected to continue benefiting from disciplined development and strong job and economic growth in the Houston region. The large Texas Medical Center anchors the market and continues to expand its facilities and institutions.
YE 2017 | Houston Healthcare | Research & Forecast ReportLisa Bridges
Healthcare providers in the Houston area are expanding to outer suburban markets while reducing the number of hospital beds. They are focusing on outpatient care and opening more ambulatory surgery centers, clinics, and freestanding emergency centers. Vacancy rates for medical offices increased slightly in 2017 while rents rose slightly and demand remained strong from investors.
The mid-Atlantic medical office market report summarizes economic and market conditions for the first half of 2014. Key points include: healthcare employment increased but at a slower pace than previous years; several significant medical office portfolio and building sales occurred; new construction deliveries included medical office and hospital space though leasing velocity was uneven; and demographic trends point to continued growth in the elderly population which will impact healthcare demand. Vacancy rates were highest in DC metro areas while net absorption was positive in suburban Maryland and Baltimore.
Houston's medical office market posted strong growth in 2012, with nearly 1 million square feet of positive net absorption. Vacancy rates declined slightly to 12.5% as new supply was limited. Class A properties accounted for the majority of absorption. Rental rates increased slightly, though landlords offered concessions. Transaction activity and leasing volume remained solid. The market is expected to continue benefiting from regional economic and job growth, as well as disciplined development. The large Texas Medical Center anchors the market and drives significant economic activity in the region.
The 10 Elements of Art1. Color2. Form3. Line4. Mass5. S.docxtodd801
The 10 Elements of Art:
1. Color
2. Form
3. Line
4. Mass
5. Shape
6. Space
7. Texture
8. Time and Motion
9. Value
10. Volume
The 10 Principles of Art:
1. Balance
2. Contrast
3. Emphasis
4. Focal Point
5. Pattern
6. Proportion
7. Rhythm
8. Scale
9. Unity
10. Variety
1
IN T R O D U C T I O N
This comprehensive case study serves as a basis for the exercises included throughout the
book.
Coastal Medical Center (CMC) is a licensed, 450-bed regional referral hospital
providing a full range of services. The primary service area is a coastal city and three coun-
ties, with a total population greater than 995,000, located in the Sunbelt. This tricounty
area has had one of the fastest population growth rates in the country for the past five
years. According to the local health planning council, the tricounty population is projected
to increase by 15 percent from 2015 to 2020. Appendix A, at the end of this case study,
provides detailed population statistics for the city and tricounty area.
The population growth rate for households (families) has been 1 to 2 percentage
points higher than the overall population growth. The growth rate of the population under
age 44 shows a young and growing community. Per capita (i.e., per person) income in the
tricounty area is high and increasing. As the population of the tricounty area increases, the
need for healthcare services is anticipated to increase. The area’s economy is largely supported
by manufacturing, with service companies and agriculture accounting for another 35 percent.
Unemployment is typically 6 percent. The overall poverty rate is 12.4 percent. A recent study
revealed that 40,000 city residents are below 125 percent of the established federal poverty level.
HE A LT H C A R E CO S T S
Healthcare costs in the region are high in comparison to healthcare costs in most other
areas in the state. In response to what they feel are excessively high healthcare costs, county
C O A S TA L M E D I C A L C E N T E R
C O M P R E H E N S I V E C A S E
S T U D Y
00_Harrison (2302).indb 1 2/18/16 4:12 PM10/12/2018 - RS0000000000000000000000574903 (Baylee Soper) - Essentials of Strategic Planning
in Healthcare
2 E s s e n t i a l s o f S t r a t e g i c P l a n n i n g i n H e a l t h c a r e
businesses recently formed a business coalition, hired a full-time executive, and publicly
stated their intent to achieve reduction in healthcare costs. The local press has expressed its
concern about the high cost of healthcare in the local community and consistently bashes
the area’s hospitals and physicians. The coalition refused to allow the three major medical
centers in the area to join, despite the fact that each is a major employer.
TH E CO M P E T I T I O N
CMC has two major competitors. Johnson Medical Center (JMC) is the larger of a two-
hospital for-profit healthcare system, and Lutheran Medical Center (LMC) is the larger of
a two-hospital, faith-based not-for-pro.
Despite strong demand and low vacancy rates in 2016, the healthcare industry faces uncertainties in 2017. The repeal of the Affordable Care Act and its replacement details are unknown, which may delay real estate decisions. Additionally, new Medicare reimbursement rules will challenge off-campus projects' viability and cause providers to reevaluate expansion plans. Rising costs are putting pressure on providers' operating margins as the aging population increases demand for healthcare. While fundamentals remain solid, the industry will need to make nuanced real estate decisions based on the changing policy and consumer landscape.
Houston's medical office market absorbed 662,000 square feet of space in 2013, with the majority occurring in the first half of the year. The citywide average vacancy rate decreased to 11.7% while average quoted rental rates increased slightly to $23.19 per square foot. Houston is expected to benefit from regional economic and employment growth, fueling continued absorption in the medical office sector despite disciplined development.
Mercer Capital's Value Focus: Healthcare Facilities | Year-End 2017Mercer Capital
Mercer Capital's Healthcare Facilities Industry newsletter provides perspective on valuation issues. Each newsletter also includes macroeconomic trends, industry trends, and guideline public company metrics.
Mercer Capital's Value Focus: Real Estate Industry | Q2 2016 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
The document provides an overview of the medical office building (MOB) market in the Houston metro area in Q1 2016. It finds that while the US economy continues expanding, GDP growth has slowed. Nationwide, hospital and MOB jobs are forecast to grow but MOB jobs in Houston are expected to remain flat in 2016 due to declines in the oil/gas industry. In Houston, MOB vacancy rose to 13.2% in Q1 2016 while average rent fell slightly. Overall, the MOB market is showing weakness due to slowing demand despite lower new construction levels.
This document provides an overview of the medical office building market in the Houston metro area in Q1 2016. It finds that while the US economy continues expanding, GDP growth has slowed. Nationwide, hospital and medical office building jobs are still forecast to grow. However, in Houston, medical office jobs are expected to remain flat throughout 2016 due to a slowdown in job growth resulting from declines in the local oil and gas industry, which has significantly impacted the broader Houston economy. The Houston MOB market saw higher vacancy and slightly lower rents in Q1 2016 compared to the previous year. Overall, the outlook for the Houston MOB market remains weak in the near term due to slowing demand, though long-term demand is still viewed positively
New Braunfels' population is growing nearly 4 times faster than Texas, attributed to its location on I-35 between Austin and San Antonio. The city saw 12.8% growth in property valuations in 2015, adding over $636 million. With nearly 1,000 new jobs added each year by major employers, the labor force has increased every month. Creekside Terrace is located in Creekside Village near I-35, directly across from a new hospital and near luxury apartments, poised to become a premier retail center for the growing region.
According to the document:
- Office activity has picked up significantly in the past quarter, with demand focused on newer Class A space in the CBD, South Central, and East areas of Austin. This has driven up rental rates in these core areas.
- Sublease space has received significant attention, with many subleases being occupied or nearing lease documentation. This allows tenants to avoid long construction timelines and realize substantial cost savings versus building out their own space.
- Overall vacancy remained at 19.3% as net absorption was negative, but delivery of new supply also slowed, suggesting continued strong demand. Rental rates across Austin increased slightly but remained flat in suburban areas.
The document summarizes commercial real estate market trends in Austin, TX in Q3 2021. Key points include:
- Vacancy rates decreased slightly to 19.2% while net absorption was positive at 705K SF
- Strong demand driven by corporate expansions and relocations is fueling investment in Austin commercial real estate
- Average citywide lease rates increased slightly to $46.16/SF, with higher rates in prime locations
- Over 4.5M SF of new construction is underway to meet continuing strong demand in the market
The industrial market in Austin, TX continued to experience tight supply and strong demand in the second quarter of 2021. Net absorption was 1,006,935 SF while vacancy dropped to 6.6%. However, the large development pipeline will not provide meaningful relief on vacancy until late 2021 and early 2022 as 2.3 million SF is currently under construction. With constrained supply across all size ranges, escalating rents and limited concessions are expected to continue through the rest of the year.
This document provides an overview of the industrial real estate market in Austin, TX for the first quarter of 2021. Key points include:
- Net absorption was 207K SF with vacancy at 7.9%, continuing the positive trends seen in late 2020.
- Population growth in Austin remains very strong at 184 people per day, fueling demand for industrial space from retailers, manufacturers, and logistics companies.
- Over 1.6M SF of new industrial space is under construction, but continued strong demand is expected to absorb space as it delivers through 2022.
The industrial real estate market in Austin saw tremendous growth and demand in 2020, driven primarily by e-commerce including Amazon expanding its footprint six-fold. Additionally, Tesla's announcement of a new gigafactory in Austin increased demand from suppliers. Available big box space over 100,000 SF became scarce as large requirements competed for limited supply. Developers responded by rapidly pursuing new developments to meet rising demand.
The Houston office market continued to contract in Q4 2020 with negative absorption of 836,140 square feet. Vacancy rates increased to 21.7% as the COVID pandemic continued to impact the market. Rental rates remained steady while landlord concessions became more aggressive. The outlook remains uncertain depending on vaccine distribution and return to office trends.
Austin's industrial market saw strong leasing activity and positive net absorption in Q3 2020 despite the effects of the COVID-19 pandemic. Net absorption was 887,476 square feet as large tenants occupied significant space. The vacancy rate decreased from 9.8% to 8.2% while average rental rates slightly decreased citywide. Construction activity also remained high with over 2.3 million square feet under construction across six projects.
The Woodlands office market posted negative net absorption of 130,960 SF in Q3 2020, pushing the year-to-date total to negative 915,333 SF. The average Class A rental rate decreased to $36.85 per SF while the Class B rate increased to $33.42 per SF. Sublease availability rose with 371,974 SF for Class A and 79,878 SF for Class B. Leasing activity declined 43% from the previous quarter.
The Fort Bend commercial real estate market saw modest improvements in the third quarter of 2020. The office vacancy rate declined slightly while absorption and rental rates decreased. Medical office vacancy rose slightly while rental rates increased. Industrial vacancy rose due to new inventory additions, though rental rates increased and absorption was positive. Retail vacancy and negative absorption increased while rental rates rose. Several new commercial projects are under construction.
The Austin office market saw negative net absorption in Q3 2020, with vacancy rates increasing to 15.2%. Rental rates remained relatively stable but concessions are increasing. While construction remains high and demand is decreasing in the short term, Austin is still attracting companies and is well positioned to recover more quickly than other markets due to its business environment and quality of life.
The Woodlands office submarket in Houston, Texas recorded negative net absorption of 129,342 square feet in the second quarter of 2020, pushing the mid-year 2020 total net absorption to negative 239,835 square feet. Specifically, Class A space saw negative absorption due to a tenant vacating 134,000 square feet, while Class B space recorded negative absorption of 46,053 square feet. Rental rates for both Class A and B space remained stable despite the increase in vacancy rates caused by the negative absorption.
The Fort Bend commercial real estate market saw declines across most sectors in Q2 2020. The office vacancy rate rose to 11.8% with negative absorption, while average rents fell slightly. Medical office vacancy increased to 15.3% while rents rose. Industrial vacancy remained at 9.4% despite positive absorption as new inventory was added. Retail vacancy increased to 6.9% with negative absorption, as average rents grew slightly. Several new commercial projects are under construction across sectors totaling over 1.2 million square feet.
Austin's office market saw a large increase in sublease space availability in Q2 2020, with over 100,000 square feet added from several large companies. The sublease availability increased over 40% compared to the start of Q2, reflecting the economic challenges brought on by the COVID-19 pandemic. However, construction continued on projects like Google and Indeed's downtown towers, and Tesla announced plans for a new factory in Austin, showing signs that Austin remains an attractive market. Vacancy rates increased overall to 13.6% as net absorption turned negative, but some submarkets did see positive absorption.
Austin's industrial market posted negative net absorption in Q1 2020 due to space coming online, including at NorthTech Business Center and Amazon leasing a large space. Rental rates increased across flex/R&D and warehouse/distribution spaces. Over 1 million square feet of industrial space remains under construction, with over 800,000 square feet scheduled for delivery in Q2 2020. Vacancy increased slightly to 8.6% as large blocks of space came to the market.
The Woodlands Class A office market recorded positive net absorption of 277,596 square feet in Q1 2020, while Class B properties saw negative net absorption of 391,360 square feet. Rental rates for Class A properties were $38.58 per square foot on average in Q1 2020 compared to $32.18 for Class B. Vacancy rates for Class A were 7.3% compared to 18.6% for Class B.
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Mid-Year 2018 | Houston Healthcare | Research & Forecast Report
1. Houston healthcare real estate market continues
to demonstrate solid market fundamentals
Research &
Forecast Report
HOUSTON | HEALTHCARE
Mid-Year 2018
Healthcare Trends Commentary by Coy Davidson
Despite the constant uncertainty associated with the healthcare
sector, the Houston healthcare real estate market continues to
demonstrate solid market fundamentals with resurgent job growth
in the healthcare sector. Houston’s robust construction activity
and steady leasing activity aids healthcare providers to continue
to implement strategies making patient care more convenient and
cost-effective.
Healthcare Employment Resumes Growth
Healthcare providers nationally remain under pressure to reduce
costs and as a result, staff reductions have been necessary. The
Houston healthcare sector posted a net loss of 1,400 jobs in 2017,
the only annual loss recorded in the last 25 years.
In May, Bay Area Regional Hospital located in Webster Texas,
ceased operations and filed for bankruptcy protection, laying off
900 employees.
However, Healthcare employment has rebounded in the Houston
MSA adding 3,400 jobs in the second quarter of 2018 pushing mid-
year employment growth to 4,000 jobs.
TMC3
The Texas Medical Center (TMC) in Houston is the largest medical
complex in the world at a total of 1,345 acres and 50 million square
feet of developed space and over 60-member institutions and it is
projected to get even bigger with a major life sciences initiative.
TMC is developing a new biomedical research hub that will cluster
researchers and industry experts together on a collaborative
30-acre campus. Groundbreaking for TMC3, the new campus, is
expected to begin in 2019 with completion slated for 2022 adding
approximately 1.5 million square feet of research space to the TMC
campus footprint.
Five institutions —Texas Medical Center, Baylor College of Medicine,
Texas A&M University Health Science Center, University of Texas
Lisa Bridges Director of Market Research | Houston
Summary Statistics
Houston Medical Office Market Q2 2017 Q1 2018 Q2 2018
Vacancy Rate 11.7% 12.1% 12.3%
Net Absorption 60,278 15,465 1,440
New Construction 282,224 86,595 103,020
Under Construction* 709,669 467,843 445,137
*Under Construction excludes hospitals, but includes the medical office buildings within the hospital
complex
Asking Rents
Per Square Foot Per Year
Average $24.70 $25.21 $24.96
Class A $28.71 $29.28 $29.07
Class B $24.16 $24.62 $24.83
.
Market Indicators
Relative to prior period
Annual
Change
Semi-Annual
Change
Semi-Annual
Forecast*
VACANCY
NET ABSORPTION
NEW CONSTRUCTION
UNDER CONSTRUCTION
*Projected
2. 0
100
200
300
400
500
600
700
800
900
1,000
Q2 '14 Q2 '15 Q2 '16 Q2 '17 Q2 '18
Millions
Rolling 12-mo. Total Quarterly Vol
0
100
200
300
400
500
600
Q2 '14 Q2 '15 Q2 '16 Q2 '17 Q2 '18
Houston U.S.
Q2 2018
NO. OF PROPERTIES: 22
TOTAL SF: 4.5M
AVERAGE $/SF: $81
AVERAGE CAP RATE: 6.0%
Sales By Total ($)
Average Price Per SF
Sales Activity
Source: Real Capital Analytics
2 Houston Research & Forecast Report | Mid-Year 2018 | Healthcare | Colliers International
Health Science Center at Houston and University of Texas MD
Anderson Cancer Center — are combining forces on the new TMC3.
The new campus alone is expected to have a 5.2 billion dollar
impact on the city of Houston and create a projected 30,000 new
jobs.
Investor Activity
Investors are increasingly viewing medical office buildings (MOB)
which have demonstrated more stable occupancy rates than other
real estate asset classes as an increasingly attractive investment
opportunity. Despite a complex and challenging healthcare
landscape, in the long-term, investors foresee a healthcare delivery
system in the U.S. that is going to continue its shift to outpatient
settings. 2017 was a record year for MOB investment volume
nationally and the momentum has continued into 2018.
Houston with its reputation as a dynamic healthcare city, with a
stable economy and growing population, remains a favored target
market among healthcare real estate investors.
Landmark Sale
In July, LaSalle Investment Management acquired The Memorial
Hermann Medical Plaza located at 7400 Fannin in the Texas
Medical Center from a joint venture comprised of Misher Healthcare
and Memorial Hermann Healthcare. The 28-story, 510,000
square-foot, Class A+ medical office building in the Texas Medical
Center reportedly traded for a record-setting $405 million, which
is believed to be the highest amount ever paid for a single medical
office building property in the U.S.
Other Notable Houston MOB Sales in the first half of 2018 include:
>> Heitman acquired a 17-building MOB portfolio from Bentall
Kennedy which included four Houston area medical office
buildings totaling 459,544 square feet, included in the sale were;
Memorial Hermann Katy Medical Plaza 1, Memorial Hermann Katy
Medical Plaza 2, Memorial Hermann Sugar Land Medical Plaza 1,
Memorial Hermann Sugar Land Medical Plaza 2.
>> Virtus Real Estate Capital based out of Austin acquired 251 &
253 Medical Center Blvd (86,297 SF) in Webster, Texas.
>> IRA Realty Capital acquired the 63,090 square foot, Katy Medical
Arts Center in Katy, Texas.
Expansions / Construction Activity
Healthcare providers are dealing with a myriad of challenges in
the face of softening admissions, changing consumer expectations
about healthcare, tight operating margins, shrinking budgets and
shifting policies. While facing these challenges many health systems
are looking to expand their access points to capture more patients
and drive referrals.
Outpatient clinics are more important than ever before as they
become the primary delivery vehicle for care. The traditional hub
3. Job Growth & Unemployment
(not seasonally adjusted)
UNEMPLOYMENT 5/17 5/18
HOUSTON 4.8% 4.2%
TEXAS 4.1% 3.7%
U.S. 4.1% 3.6%
JOB GROWTH
Annual
Change
# of Jobs
Added
HOUSTON 2.6% 79.2K
TEXAS 2.8% 344.7K
U.S. 1.6% 2.4M
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
$24.00
$25.00
$26.00
$27.00
$28.00
$29.00
$30.00
Class A Rents Class A Vacancy
*Vacancy percentage includes direct and sublease space.
10.00%
11.00%
12.00%
13.00%
14.00%
15.00%
$20.00
$22.00
$24.00
$26.00
Class B Rents Class B Vacancy
*Vacancy percentage includes direct and sublease space.
Medical Office
CLASS A RENTS AND VACANCY
CLASS B RENTS AND VACANCY
3 Houston Research & Forecast Report | Mid-Year 2018 | Healthcare | Colliers International3
and spoke model in healthcare, which puts hospitals at the center
of care delivery, is changing to focus more on ambulatory care.
The ambulatory network of the future is the hub of a care delivery
system and the health care system’s real estate footprint of the
future will include regional acute care hospitals paired with a
constellation of ambulatory facilities and medical office buildings
to include a mix of community-based comprehensive care centers
with a mixture of services, micro-hospitals, ambulatory surgery
centers, free-standing emergency departments, imaging centers,
primary care clinics and urgent care clinics.
In addition to major expansions in the Texas Medical Center,
Houston area healthcare providers continue to expand their
presence in suburban markets which are driving construction
activity from both healthcare providers themselves as well as third-
party developers.
Healthcare construction projects total over 4.8 million square feet
in the Houston area with approximately 4.3 million square feet
of new hospital space under construction. The bulk of the new
hospital construction comprises major expansion projects in the
Texas Medical Center by member institutions. However, Houston
Methodist Hospital is expanding their suburban campuses in Sugar
Land and Baytown. UTMB is expanding their campus in League
City by 300,000 square feet and MD Anderson Cancer Center is
building a new 208,000 square foot Hospital in The Woodlands.
New Medical Office Building development totals approximately
500,000 square feet comprised of nine (9) projects dispersed
throughout several suburban submarkets. The largest medical office
building currently under construction is Hedwig Place expected
to deliver 102,000 square feet to the in early 2019. The five-story
Class-A medical office in West Houston building broke ground 65%
pre-leased.
Houston based developer Wile Interests recently announced plans
to break ground in the first quarter of 2019 on Medical Plaza
West, a new 70,000 story Class-A Medical Office Building in West
Houston.
Leasing Trends
The bulk of leasing activity is coming from Hospital systems and
large physician practice groups as physicians continue to migrate
towards hospital system employment versus independent practice
and as a result, the size of a typical medical office lease is trending
upwards. However, healthcare leasing activity is not restricted
solely to medical office buildings as healthcare providers are
increasingly opting for retail centers to establish outpatient clinics,
particularly in the faster-growing suburbs.
4. Texas Medical Center
>> World’s Largest Medical Complex (1,300 Acres)
>> 54 Member Institutions
>> 10M Patients Annually
>> 106,000 Employees
>> 5,000 Physicians
>> 49,000 Life Science Students
>> $960 Million in Charity Care
Houston MSA Health Care
>> 128 Hospitals
>> 18,681 Hospital Beds
>> 16,070 Licensed Physicians
>> 299,600 Health Care & Social Assistance Jobs
>> 3.9% Annual Employment Growth
4 Houston Research & Forecast Report | Mid-Year 2018 | Healthcare | Colliers International
Galveston
Bay
225Bellaire
The Woodlands
Humble
Pasadena
IAH
EFD
HOUSugar Land
Cypress
Tomball
Katy
rookshire
Lake
Houston
La Porte
146
League City
Kingwood
Atascocita
Spring
Pearland
35
35
Richmond
aller
Hockley
242
1488
1488
Conroe
Magnolia
Willis
Lake
Conroe
Crosby
CBD
Ship
Channel
Texas Medical
Center
Clear Lake
Baytown
Mont Belvieu
Dayton
149
149
Cleveland
105
105
105
321
330
Alvin
Hitchcock
Texas
City
Houston Area Hospital Locations
Texas Medical Center Map
5. 55 Houston Research & Forecast Report | Mid-Year 2018 | Healthcare | Colliers International
Texas Medical Center Update
The Texas Medical Center Corp, the operator of the largest medical center in the world, announced plans for TMC3, a $1.5 billion
expansion. Ground breaking of the collaborative research campus is expected to begin in 2019 with a 2022 estimated completion date,
and involve five founding institutions seeking collaboration between major corporations and research universities. The campus is expected
to create 30,000 new jobs and has an estimated economic impact of 5.2 billion dollars annually.
TMC is home to
the World’s Largest
Children’s Hospital,
Texas Children’s
Hospital & the
World’s Largest
Cancer Hospital,
MD Anderson
Cancer Center.
Texas Medical Center Member Institutions
Baylor College of Medicine Nora’s Home
CHI St. Luke’s Health Prairie View A&M University
Children’s Memorial Hermann Rice University
City of Houston Department of Health and Human Services Ronald McDonald House Houston
Coleman HCC College for Health Services Sabin Vaccine Institute
DePelchin Children’s Center Shriners Hospital for Children – Galveston
Gulf Coast Regional Blood Center Shriners Hospital for Children – Houston
Harris County Institute of Forensic Sciences St. Dominic Village
Harris County Medical Society Texas Children’s Hospital - Largest U.S. Children’s Hospital
Harris County Public Health and Environmental Services Texas Heart Institute
Harris Health System Texas Medical Center Hospital Laundry Cooperative Association
Health Science Center Texas A&M University Texas Medical Center YMCA
Houston Academy of Medicine Texas Southern University
Houston Hospice Texas Women’s University
Houston Methodist The Health Museum: John P. McGovern Museum of Health and Medical Science
Institute for Spirituality and Health The Texas Medical Center Library
LIfeGift Thermal Energy Corporation (TECO)
MD Anderson Cancer Center - World’s Largest Cancer Hospital TIRR Memorial Hermann
Memorial Hermann University of Houston
Menninger Clinic University of St. Thomas
Michael E. Debakey High School for Health Professions UT Health
Michael E. Debakey Veterans Affairs Medical Center UTMB Health