Leaders from Realty Trust Group, University of Tennessee Medical Center and OrthoTennessee broke ground Oct. 26 for a freestanding orthopedic ambulatory surgery center with physicians and team members committed to providing outstanding patient care and advancing orthopedic research.
UT Medical Center’s Advanced Orthopaedic Institute will be located at UT Research Park at Cherokee Farm across Alcoa Highway from the main campus of UT Medical Center. The project will include an ambulatory surgery center and large-scale clinic space for OrthoTennessee, as well as designated research space for UT Medical Center and its partners. Construction is expected to take about 18 months with an estimated opening date in the spring of 2022.
“This groundbreaking is the culmination of a trusted partnership between our firm, healthcare leaders in our community and the University of Tennessee,” said Chad Simpson, executive vice president for Realty Trust Group. “UT Medical Center’s Advanced Orthopaedic Institute will be a best-in-class, destination location for patients and families across our region. Realty Trust Group welcomed the opportunity to be a part of this project, and we look forward to seeing its completion.”
Realty Trust Group (RTG) is the real estate development partner for the project. The facility was designed by BarberMcMurry Architects, and The Christman Company is the general contractor. Financing is provided by First Horizon.
“The UT Medical Center Advanced Orthopaedic Institute will serve our patients with high-quality care delivered by experts in orthopaedics in a convenient location,” said Joe Landsman, president and CEO of The University of Tennessee Medical Center. “This partnership with OrthoTennessee/University Orthopedic Surgeons combines outstanding orthopaedic clinical and surgical knowledge with a research collaboration to address the growing needs of our community.”
Project leaders expect to have approximately 150 employees, including 14 orthopedic surgeons, when the center opens. That total number of employees could expand to 180 with growth of the facility. Team members at the 91,000-square-foot center will care for around 225-275 patients a day for surgery, clinic, imaging and therapy.
“With this groundbreaking, the UT Research Park is expanding in an exciting new direction that will provide opportunities for collaboration with our renowned researchers and students,” UT President Randy Boyd said. “We look forward to how this project will impact the lives who come before the center seeking help and researchers and students who seek to contribute to the latest in medical technology and practices.”
About Realty Trust Group
Realty Trust Group, LLC (“RTG”) is a real estate advisory and services firm offering a full spectrum of real estate services including advisory, development, transactions, operations and compliance.
Since 1998, RTG has helped hospitals, physician groups, and property owners navigate the rapidly changing industry with growth strategies that gain market leadership as well as enhance patient and physician experiences for better delivery of care. Our philosophy is to provide innovative solutions to the complex and challenging issues found in today’s healthcare real estate market. These solutions include strategic campus and facility planning, portfolio optimization, portfolio monetization, project development, leasing, acquisition and disposition services, portfolio management, regulatory compliance and many other ideas and services. For more information about RTG and our innovative healthcare real estate services, visit www.realtytrustgroup.com, Facebook, LinkedIn, Twitter, or call 865-521-0630.