After health care in Colorado Springs hit a blip in early September with the sudden closure of the Vascular Surgery Center inside Penrose Hospital, a new, independent medical office building is rising on the city's north side.
Construction began this week on a 35,000-square-foot, two-story building that will offer vascular and cardiology care and an ambulatory surgery center that will include the area's first standalone cardiac catheterization lab.
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The decision to build the new center was not related to the closure of the Penrose Hospital facility, said Peter Burd, chief operating officer of Heart & Vascular Partners.
"This has been part of the plan for Colorado Springs Cardiology, in the name of expanding access for patients for cardiology, ambulatory surgery and outpatient cardiac procedures," he said. "It will be a full clinic that includes diagnostic imaging and also serve patients for routine exams."
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Remedy Medical Properties owns and is developing the 3.1-acre site in the Interquest commercial district. As a real estate investment firm, Kayne Anderson Real Estate also is involved with the project, and when combined, the two companies comprise the nation's largest private owners of healthcare real estate.
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Heart & Vascular Partners, a nationwide managed-services organization, last year became the operating partner for Colorado Springs Cardiology, an independent practice that had been located inside St. Francis Hospital until it moved out in November 2023, Burd said.
The cardiologists' group set up shop at two outpatient clinics of Heart & Vascular Partners and Remedy Medical Properties: at Union Medical Campus, 1625 Medical Center Point; and across from St. Francis Hospital at the Woodmen Medical Center, 7435 Sister's Grove.
Heart & Vascular Partners helped the cardiovascular clinic "in standing up newly independent operations, facilities and staff with scalable business operations, while investing to grow through expansion of services offered and increased access to outpatient modalities," according to its website.
Burd said Heart & Vascular Partners now is helping finance the current expansion for Colorado Springs Cardiology, which will be the tenant and operator of the new center. He declined to disclose the cost of the project.
Colorado Springs Cardiology has and will continue to be affiliated with Penrose and St. Francis hospitals in the CommonSpirit network, Burd said.
The new medical office building, at 10600 White Diamond Point, is scheduled to open in November 2025.
"We're excited to locate north where there continues to be population growth, and to reduce wait times for patients," Burd said. "We hope to be able to see patients within a couple of weeks within their time of scheduling."