Here are our picks for this year’s healthcare influencers.
By: Erika Morphy | GlobeSt.
The last twelve months have proven to be a roller coaster ride for the healthcare real estate industry sector. Like office, medical office buildings lost tenants as physicians closed operations and reduced their space. Unlike office, this niche then rebounded admirably not long after the pandemic began. It quickly became clear that medical office buildings were a solid investment that would withstand the vagrancies of the pandemic. Kudos must go to the men and women who navigated this minefield. On the following pages you will read about these experts we have selected based on a range of criteria, most fundamentally the impact they have made in their industry in the last twelve months.
BILL COLGAN Throughout his more than 25-year career, Bill Colgan has emphasized the importance of preserving and developing community-based healthcare facilities as a means to improve access and quality of patient care as well as create jobs and tax ratables. Colgan is a founding member and managing partner of CHA Partners, where he directs all business development, strategic planning and financial operations. He has grown the firm’s portfolio, which currently includes more than three million square feet of owned and under development properties, the majority of which are healthcare-focused. In recent years, Colgan has spearheaded the acquisition and repurposing of four former acute care hospitals in New Jersey, including the former Barnert Hospital, the former Greenville Hospital, the former William B. Kessler Memorial Hospital and the former Muhlenberg Hospital. In each case, CHA Partners transformed vacant, abandoned structures into vibrant providers of local, regional and national healthcare services in the areas of women’s health, urgent care, subacute, behavioral health, adult medical daycare, ophthalmology, dialysis and more. In addition, Colgan has developed several ambulatory surgical centers in each of these facilities, navigating the areas of group formation, licensure and construction. Among his achievements are the acquisition and repurposing of numerous closed or bankrupt acute care hospitals, the development of new medical programs through physician recruitment and regulatory approvals, and the management of numerous ground-up development projects, such as the under-construction 140,000-square-foot ambulatory care center in Totowa, NJ and the recently completed Rockaway Beach Medical Arts Complex. Most recently, Colgan spearheaded the launch of LIVIA, an upscale wellness-focused senior living community that will offer assisted living, memory care, post-acute care, long-term care, rehabilitation and skilled nursing care.