Friday, February 23, 2018

Downtown Dallas' newest office building attracts Boston health care firm rumored to be eyeing move


A Boston-based health care company that operates three dozen hospitals in 10 states could be setting the stage for a relocation to Dallas.
Steward Health Care System, which describes itself as the country’s largest private hospital operator, has leased 18,000 square feet of office space in a downtown office building, according to city of Dallas building permits.
The 25-story building at  1900 Pearl St. is Dallas’ newest downtown office tower, with 260,000 square feet of office space built by Lincoln Property Co. The building’s first tenant, Baker McKenzie, opened its office today.
Rumors have swirled in recent months  that Steward was looking to move out of Massachusetts, and The Boston Globe reported in November that Dallas was the likely spot for the new headquarters.
Officials with Steward could not be reached for comment Wednesday.
On Tuesday, Steward Health received approval of a building permit for $3.25 million worth of construction on the 23rd floor of the office tower, records show.
In The Boston Globe report, the company’s chief executive, Dr. Ralph de la Torre, was said to be planning to move some top management jobs.
It also noted that most health care companies in Massachusetts are run as nonprofits, and Steward has bristled at state laws that require it to disclose financial information.  
The company has racked up $300,000 in fines and is suing the state, saying it has no right to information Steward considers proprietary, according to the newspaper.
The company has rapidly expanded its national footprint, moving into Texas last year.
In September, it completed a $2 billion merger agreement in which it took over six hospitals in Texas, as well as several in other states. Earlier in 2017, it acquired eight hospitals from Tennessee-based Community Health Systems.
Steward Health now operates 36 community hospitals and has about 37,000 employees on staff, the website says. 

https://www.dallasnews.com/business/health-care/2018/02/21/large-boston-based-health-care-firm-rumored-eyeing-moveleases-space-downtown-dallas?itx[idio]=8812325&ito=792&itq=c23fbe62-a5f0-4939-a020-9f866fa92ab1

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