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| The Sterling Medical Center in Waltham, Mass. |
 hildren's
Hospital Boston is adding another location to its network with the
purchase of Sterling Medical Center in Waltham; a purchase that
represents a key effort in the hospital’s quest to deliver
better services to patients throughout Eastern Massachusetts.
Sterling Medical Center, located at the former
Waltham Hospital site, includes over 400,000 gross square feet of
space on an 11-acre site within minutes of I-95 and the Mass Pike.
Approximately 120,000 square feet of the space is currently used
for an array of health care services.
"This is a terrific opportunity for
Children's," says Chief Operating Officer Sandra Fenwick.
"Because of the site's location, strong base of existing tenants
and potential for leasing, the property represents a good investment—both
financially and in terms of our flexibility to expand services as
appropriate in the Waltham area."
The purchase of the Waltham site is expected
to be completed over the next several months, after which the hospital
will maintain current leases and undertake a strategic planning
process to determine which hospital services can successfully move
to Waltham.
"By providing more secondary and ambulatory
care in the community, we will free up our Longwood campus for more
intense tertiary and quaternary services for the region and continue
to meet the medical needs of the children of Boston," says
James
Mandell, MD, president and CEO. "As
a result, patients, their families and referring physicians will
have more timely and convenient access to our services."
The purchase includes a generous $2.5 million
gift from Roy MacDowell, head of Sterling Center LLC, from whom
Children’s is acquiring the property, and his family. "I
am very excited about selling Sterling Medical Center to Children’s
Hospital Boston," says MacDowell. "I also hope my family’s
gift to the hospital is seen as evidence of my sincere support of
Children's mission, which is pursued by a legion of caring and talented
health care professionals that we are so privileged to host in our
community."
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