Penn State Milton S. Hershey Medical Center

"The new facility will enhance collaboration between many of our clinical services."
 
Wayne W. Zolko
Campus CFO
Penn State Milton S. Hershey Medical Center
Hershey, PA

LILLIBRIDGE EXPEDITES MEDICAL CENTER COMPLETION

In order to meet the growing healthcare needs of the Central Pennsylvania region, Penn State Milton S. Hershey Medical Center plans to develop its East Campus into a unified sub-district that is a more accessible, consumer-friendly environment for outpatient services.  Center Campus, where the main hospital is located, will continue as an inpatient and emergency services location, while the West Campus will focus on research and academic functions.
 
While long-term plans include a cancer institute and children's hospital on the East Campus — the Medical Center had a more immediate need for a 2-story, 164,000 square foot "big-box" multidisciplinary outpatient facility. In an effort to avoid excessive delays associated with traditional, non-profit hospital financing, the Medical Center sought a partner with extensive healthcare real estate experience that could provide initial development capital. Lillibridge was proud to have been selected to be the hospital's partner after an exhaustive search of 20 potential firms.
 
Speed to Market
 
Armed with substantial experience in the healthcare real estate capital markets, Lillibridge secured solid financing for both construction and permanent loans. Penn State's Board of Trustees leased 23 acres to Lillibridge for the state-of-the-art facility.  Upon completion, Lillibridge will lease the facility back to the Medical Center, which has periodic purchase options throughout the 30-year lease term.
 
Measurable Results
 
When complete, the medical center will be home to integrated outpatient services for neurology, neurosurgery and orthopaedics; outpatient physical, occupational and speech therapy services, rehabilitation and sports medicine; the Penn State Hershey Breast Program — a comprehensive breast care center; and modern imaging services including MRI, CT and digital radiography.
 
"The new facility will enhance collaboration between many of our clinical services, providing our patients with comprehensive multi-disciplinary care from some of the nation's finest physicians, all in a single location," explained Wayne W. Zolko, campus CFO.