St.Vincent Health

"Lillibridge helps attracts physicians who deliver key services."
 
Vincent Caponi
CEO
St.Vincent Health
Indianapolis, IN

ST.VINCENT RELIES ON LILLIBRIDGE TO HELP ACHIEVE AMBITIOUS GROWTH

In the hyper-competitive Indianapolis healthcare market, St.Vincent Health counts Lillibridge as a key partner in meeting its strategic objectives. The collaboration began several years ago when St.Vincent sold 11 medical office buildings to Lillibridge, allowing the health system to raise needed capital to finance its acquisition of Saint John's Hospital in Anderson, Indiana.
 
The close relationship since then has helped fuel St.Vincent's ongoing expansion. To support St.Vincent's major growth initiatives in such areas as cardiology, pediatrics, bariatrics and obstetrics, "Lillibridge works with each of our hospital administrators to help them attract physicians who deliver key services to our communities," says Vincent Caponi, chief executive officer of 16-hospital St.Vincent Health, a member of Ascension Health.
 
Before acquiring the St.Vincent buildings through a competitive bidding process, Lillibridge worked with Ascension Health, the largest U.S. non-profit healthcare system with 78 hospitals in 20 states. Lillibridge inventoried Ascension Health's medical office buildings system-wide and evaluated its strategic options for the real estate. Lillibridge's assessment led St.Vincent management to sell the physician buildings so it could focus on its core mission. "When you form a true partnership like this, it works really well," notes Caponi.
 
Premier Facilities
 
After acquiring the medical office buildings, which add up to nearly 900,000 square feet of space, Lillibridge surveyed tenants to identify any concerns. As a result, it developed a multi-year action plan for upgrades and improvements to address top issues, including cleanliness, temperature problems and overall appearance. In some of the older buildings, Lillibridge has replaced HVAC systems and other mechanicals. It consolidated janitorial services with one firm and also is refurbishing public spaces in the buildings as needed.
 
"It is absolutely critical that we have first-class office space, and Lillibridge delivers that," explains Caponi.