Partnership with ACCESS Medical Development will Result in 80,000 Square Foot Expansion

RALEIGH, N.C. (July 27, 2005) - On the heels of opening the new Emergency Department at WakeMed North Healthplex, WakeMed has entered into a business partnership with ACCESS Medical Development to build an 80,000 square foot Physicians Office Pavilion and a 400-space parking garage.

PlansIn order to develop the facilities, WakeMed leased a portion of land on its North Healthplex campus to ACCESS. The Physician Office Pavilion will be located adjacent to the existing building and is slated to open in October 2006. ACCESS will be responsible for the design, construction, financing, leasing and management of the building.

WakeMed is confident with the decision to have ACCESS lead this endeavor. Their local relationships and experience in developing medical office complexes made ACCESS the logical partner in this growth project for WakeMed,” explained Kathleen Gormley, executive vice president of ambulatory services.

The Physicians Office Pavilion has been designed to suit the needs of physicians and medical practices and will offer both leasing and ownership opportunities. To accommodate the growth on the North campus, 519 new parking spaces will be added via a combination of structured and surface parking spaces. The new parking structure will be located adjacent to the Physician Office Pavilion.

"The construction of this new facility presents a mutually beneficial opportunity for both WakeMed and the physician community. For WakeMed, the additional physician and specialists will compliment the services already offered. In return, physicians will have convenient access to WakeMed's day surgery center, radiology, laboratory, rehab and emergency services," added Carolyn Knaup, executive director of WakeMed North Healthplex.

This venture is yet another example of WakeMed commitment to meet the needs of the growing Northern Wake County community. This facility will allow WakeMed to offer an even broader scope of services on the WakeMed North Healthplex campus.

About WakeMed North Healthplex
WakeMed North Healthplex, located in North Raleigh, is a state-of-the-art medical complex that offers convenient access to a variety of outpatient, diagnostic and treatment options. Services at WakeMed North Healthplex include radiology, laboratory services, outpatient surgery and endoscopy, outpatient rehabilitation, physician offices and a recently added 24-hour emergency department.

About WakeMed
WakeMed Health & Hospitals, one of the first hospital systems in the country, is a private, not-for-profit health care organization based in Raleigh, N.C. The system comprises a network of health care facilities throughout Wake and Johnston Counties, including a 515-bed tertiary referral hospital, a 114-bed full-service hospital, a 68-bed rehabilitation hospital, two full-service clinics as well as two short-term, skilled-nursing and outpatient facilities. Specialty service areas include cardiac care, women’s and children’s services, physical rehab, emergency and trauma, orthopaedics, neurosciences and home care. WakeMed’s team of 7,000 nurses, technologists and medical support staff and more than 1,000 affiliated physicians serve the residents of North Carolina using the most advanced technologies and facilities to ensure the finest in health care. For more information, visit www.wakemed.org.

About ACCESS Medical Development
ACCESS Medical Development is a privately held regional real estate development firm, headquartered in Raleigh, North Carolina, that focuses on the development of Class A medical office buildings and medical office parks. ACCESS is enlisted by numerous hospital systems to assist in campus-wide master plans, to act as a consultant with regard to long and short term strategic planning of medical real estate needs, and to provide off balance sheet ownership of new and existing facilities. ACCESS also works with medical practitioners on all phases of design/build development, from initial consultation and site selection through project completion. In conjunction with development, ACCESS also provides a full range of medical leasing, property management, and asset management services. ACCESS is committed to building quality relationships, with business partners as well as its employees. As a testament to its commitment, ACCESS was recently awarded one of the “Best Places to Work” in the Triangle.


For Additional Information:
Heather Monackey
WakeMed Health & Hospitals
Phone (919) 350-7975

 

ACCESS Medical Development, 3230 Birnamwood, Raleigh, NC 27607
Phone: 919.828.1515, Fax: 919.828.1518