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UT Regents Approve $293M Hospital, Medical Office Partnership
The University of Texas board of regents approved a partnership between University of Texas Southwestern Medical Center and Texas Health Resources for a 140-bed hospital and 120,000-square-foot medical office in Frisco, TX, a suburb of Dallas. Under the agreement, UTSMC will kick in $139.7 million of the total $292.5 million for development and operation of the facilities.
The hospital, which is scheduled to open in 2019, will be situated on 20 acres and be jointly owned by UTSMC and Texas Health Resources. Meanwhile, UTSMC will fully own and operate the medical office building, which will include a 90,000-square-foot, multi-specialty clinic. Texas Health will manage construction.
UTSMC President Daniel Podolsky told Community Impact that going it alone could have cost the university system approximately $5.7 billion over five years.
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