Woman’s Hospital and The Physicians Alliance Corporation, of Baton Rouge, announced that they have signed a sales agreement of the 24-acre campus located at Goodwood and Airline Highway. The sale to the Physicians Alliance Corporation, which is being handled by Beau Box Commercial Realty and One Source Commercial, is still subject to the completion of due diligence. The sale will include the hospital building, medical office building, support services building, materials management building, parking garage and all surface parking.
“Woman’s has always strived to be a good neighbor, and we are pleased that this location will remain a medical facility,” said Teri Fontenot, President and CEO of Woman’s. According to the agreement, The Physicians Alliance Corporation will take possession of the property through an affiliated corporation called TPAC Holding, LLC, once Woman’s fully vacates the campus this summer. Woman’s new address is 100 Woman’s Way, which is six miles south on Airline Highway at the corner of Pecue Lane.
The Physician’s Alliance Corporation, also referred to as TPAC, is a private, mostly physician owned organization working to improve healthcare delivery systems for the benefit of patients and providers. TPAC consists of more than 3,000 physician providers, some of whom are shareholders.
“TPAC functions like an interactive, multi-specialty medical clinic with our members located in their own separate offices,” said Glen Duncan, spokesperson for the company. “We are pleased to be able to assume ownership of a well-maintained, modern property and preserve it as a hospital and healthcare facility.” Joining TPAC in the purchase will also be private investors.
Duncan said the focus of the facility will be excellent health care. Details on specific services to be offered are not final, except that OB/GYN, newborn, and breast care services will not be offered at the site.
Seller: Woman’s Hospital Foundation
Purchaser: The Physicians Alliance Corporation, through its affiliated company TPAC Holding, LLC.
Anticipated date to finalize the sale and transfer ownership: July 11, 2012
Located: Baton Rouge, Louisiana
Purchase consists of: Woman’s Hospital complex at Goodwood Boulevard and Airline Highway, which includes:
- Woman’s Hospital building
- Medical office building
- Support services building
- Materials management building
- 700 vehicle garage and surface parking area
- 24 acres of land
About The Physician’s Alliance Corporation (TPAC): TPAC is a private, physician owned organization focused on improving our healthcare delivery systems and consists of more than 3,000 physician providers. This network of physicians functions much like an inter-active multi-specialty clinic, even though each provider remains in their respective medical offices. TPAC is located in Baton Rouge, is dedicated to patient-centered physician directed healthcare, and has providers located throughout south Louisiana.