MedCore Partners Completes Sale of PAM Rehabilitation Hospital of Dover

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Jun 17, 2020, 12:37 ET

DOVER, Del., June 17, 2020 /PRNewswire/ -- MedCore Partners and The National Realty Group are pleased to announce the sale of PAM Rehabilitation Hospital of Dover. Operated by Post Acute Medical (PAM), this state-of-the art 42,000-square-foot acute inpatient rehabilitation hospital provides comprehensive inpatient rehabilitation and outpatient therapy services for families in Dover, DE, and surrounding communities.

PAM Rehabilitation Hospital of Dover is only the second inpatient rehabilitation hospital (IRF) built in the State of Delaware and required a multi-year approval process in order to be granted a Certificate of Public Review (CPR) from the state. This required a joint effort on the part of MedCore and Post Acute Medical to justify the necessity of developing such a facility.

MedCore conducted extensive nationwide research to identify the markets within the State of Delaware (among many other states) in which there was a prevalent need for inpatient rehabilitation beds. Once the patient base of the Dover market proved to be in high demand, MedCore searched for and acquired an optimal site on which to develop the new hospital.

Groundbreaking commenced in January of 2018 and construction was completed and the hospital was ready for patients by the beginning of 2019. Located near the intersection of McKee Road and College Road, the 34 bed hospital was the first of its kind in the region. Featuring modern design and luxurious finishes, the 2-story hospital includes an inpatient rehab gym, outpatient rehab gym, radiology and laboratory services, a full dietary department and many other support and ancillary services.

The facility has been acquired by an institutional investor to add to its nationwide portfolio of healthcare assets.

Michael Graham, Partner at MedCore added, "We have been thrilled to see this project progress through approval, development, and subsequent outstanding occupancy achievement. We are now excited to see a successful sale to a fantastic buyer with whom we've enjoyed working."

PAM Rehabilitation Hospital of Delaware is the second collaboration between MedCore Partners and Post Acute Medical. The companies previously completed an inpatient rehabilitation hospital in Kyle, TX.

ABOUT

POST ACUTE MEDICAL, LLC, (PAM), based in Enola, PA, provides post-acute healthcare services through 30 long-term acute care hospitals, medical rehabilitation hospitals, surgical hospitals, and 40 outpatient therapy clinics in eight states. PAM is committed to providing high-quality patient care and outstanding customer service, coupled with loyalty and dedication of highly trained staff, to be the most trusted source for post-acute services in every community it serves. PAM's mission is to serve people by providing compassionate, expert care and to support recovery through education and research. Learn more at www.postacutemedical.com.

MEDCORE PARTNERS is a unique and innovative full-service real estate company dedicated exclusively to the healthcare and senior living industries. By leveraging off both its intimate knowledge of the dynamics of the medical sector and its comprehensive platform of real estate services, MedCore is uniquely qualified to identify and capitalize on healthcare projects around the nation. For more information visit www.medcorepartners.com.

SOURCE MedCore Partners