St. Francis Prepares to Sell Former Hawaii Medical Center West
- Jul 12, 2012
by Adriana Pop, Associate Editor
St. Francis Healthcare System of Hawaii expects to sell Hawaii Medical Center West to Queen’s Health Systems.
“Preparing the West Oahu hospital for sale is one of our top priorities in the next few months,” St. Francis President and CEO Jerry Correa told the Pacific Business News.
In May, Queen’s Health Systems, owner of The Queen’s Medical Center in Honolulu, signed a letter of intent and confidentiality agreement with St. Francis to explore the possibility of acquiring and reopening the Ewa facility.
The Hawaii Medical Center West and the Hawaii Medical Center East in Honolulu closed in December 2011, as part of Hawaii Medical Center’s lengthy bankruptcy process. In April, both facilities were returned to their former owner St. Francis, the company’s largest secured creditor.
In other news, Hawaiian Island Homes Ltd. president Peter Savio has closed on the $15 million acquisition of the 61,690-square-foot Newtown Square office complex in Aiea. Savio acquired the property from Kamehameha Schools and plans to convert it into medical condominiums.
According to the Pacific Business News, doctors have renamed the building The Mary Savio Medical Plaza at Newtown, after Peter Savio’s mother. Mary Savio was the first woman president of the Honolulu Board of Realtors and a member of the state Real Estate Commission.
The developer plans to add 45,000 square feet of office space and a four or five-story parking garage on top of the additional health-care floors. Upon completion The Mary Savio Medical Plaza at Newtown will comprise 106,000 square feet of tenant space, the newspaper reports. Honolulu-based Hawaiian Dredging Construction Co. Inc. will serve as lead contractor for the expansion. Construction is scheduled to start in early 2013.
Photo credits: hano-hawaii.org