With a 40-year history and 45 physicians, Wellmont CVA Heart Institute is nationally ranked in cardiac medicine and is the Tri-Cities’ largest and most experienced group of heart and vascular experts. Its Kingsport, TN, location draws patients from a 50-mile radius, of which approximately 21% (192,000 residents) are above the age of 65. The practice has approximately 85,000 active patients and serves more than 300 patients a day in its heart rehab center. The 57,512 square foot facility features six echocardiography bays, four nuclear stress tests, and a PET scanner.
Wellmont Health System merged with Mountain States Health Alliance in 2018 to form Ballad Health. Remedy acquired the building from a group of physician investors, some of whom were leaving the practice. By divesting their real estate holdings, the physicians gained career options and flexibility. As property manager, Remedy oversaw a full roof replacement and HVAC repair. The practice appreciates not having to focus on building operations so its physicians can concentrate on saving lives.
Transaction Date: September 2017