Birmingham-based Sanders Trust has just broken ground on a $24 million rehabilitation hospital in Fort Smith, Arkansas, adding a 28th state to the spread of its portfolio of health care real estate.
Sanders Trust is one of the country’s largest real estate investment trusts specializing in health care. It builds, buys and renovates medical properties across the country.
Mercy Hospital in Fort Smith will be owned by Sanders Trust and will be managed and operated as a joint venture of the Mercy Health System in St. Louis and Kindred Healthcare. Mercy and Kindred selected The Sanders Trust as the developer to finance, construct and own the 40-bed, 53,000-square-foot hospital.
The hospital will serve patients who require rehabilitation following a stroke, traumatic brain injury, spinal cord injury or similar medical problems. Patients will be provided with nursing care, physical therapy, occupational therapy, speech pathology, and related services to post-acute patients for whom the average stay is approximately 13 days.
“The Sanders Trust is pleased to collaborate with the Mercy Health System and Kindred Healthcare in bringing a state-of-the-art rehabilitation hospital to the Fort Smith area,” said Rance Sanders, president and CEO of The Sanders Trust.
Sanders formed Sanders Trust in 1997, a company that evolved from Starr Sanders Properties, which was formed in 1989 by Sanders and the late Bart Starr, who served for many years as Sanders Trust vice chairman.