RIVERSIDE, Calif., Aug. 16, 2016 /PRNewswire/ -- Cobalt Medical Development is the most recent company to join March LifeCare in Riverside County, signing an agreement to purchase four acres on the growing medical campus. Cobalt, a real estate developer and owner/operator of healthcare facilities, plans to construct a state-of-the-art post-acute medical and rehabilitation hospital that will house 70 private inpatient beds, inpatient and outpatient programs, and provide upscale hotel-like amenities. The facility will be used to treat traumatic brain injuries, concussions, and Parkinson's disease, in addition to providing other in- and out-patient services.
"We are bringing a whole new level of medical service to the community," Richard Fiske, Cobalt's Chief Executive Officer said in making the announcement. "Our advanced rehabilitation center will specialize in treating traumatic brain injuries of military veterans, first responders, athletes, and the general public. We look at a rehabilitation patient as one who is not sick, but broken and our job is to get them mended." Fiske, along with Erik de Vries, Principal and Founder, have together participated in the development of nearly 25 percent of all the rehabilitation hospitals in the United States.
"Cobalt's hospital and rehabilitation services will be an integral part of the specialized medical services provided at the March LifeCare Medical Campus," said Donald Ecker of March Healthcare Development. Dr. Danielle Wheeler, March Joint Powers Authority Executive Director added, "Cobalt's rehabilitation center exemplifies the type of high quality, specialized medical facility the Joint Powers Commission envisioned would serve the surrounding communities of Moreno Valley, Riverside and Perris when they approved the March LifeCare Medical Campus."
The project will create over 100 construction jobs and joins other development already underway on the March LifeCare campus including the erection of a 150-bed behavioral health hospital, infrastructure expansion of new gas and water lines and roadway resurfacing, and construction of the US Vets housing facility. Once the hospital is constructed, Cobalt will be hiring physical therapists, speech therapists, nurses, nurse assistants, and workers in the food service industries as well grounds maintenance.
"We are excited about this development because Cobalt will be bringing services to the Riverside area that are currently unavailable," said Dr. Steven Larson, Chairman of the Riverside Medical Clinic. Dr. Thomas Haider, chief of the Spine Division for Riverside County Regional Medical Center agrees. "I look forward to utilizing Cobalt's state-of-the-art rehabilitation facility, there is such a severe need for post-acute care in Riverside County," he said.
Cobalt Medical Development, based in Dallas, Texas, is a real estate development and an owner/operator company providing exceptional patient care in state of the art facilities that promote improved patient outcomes. As experienced healthcare developers, Cobalt supplies its investors and healthcare providers with a sharp focus on strategy and developing real estate in rapid growth sectors. For more information, visit cobaltmedicaldevelopment.com.
About March Healthcare Development
March Healthcare Development is the master developer of March LifeCare, a medical city on approximately 236 acres of surplus land on the former March Air Force Base in Riverside County, California. For more information regarding March Healthcare Development, visit marchlifeusa.com.
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SOURCE March Healthcare Development