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Cushman & Wakefield launches healthcare practice

Real Estate Weekly, April 16, 2008

In response to the evolving landscape of one of the world's largest and fastest growing industries, Cushman & Wakefield today announced the launch of its Healthcare Practice Group.

The Practice brings together the experience of existing Cushman & Wakefield professionals from a variety of service disciplines who specialize in the various sectors of the healthcare industry.

North American in scope, the Practice is led by an executive committee representing a cross-section of these sectors. The eight-member committee is comprised of Michael Berne, New York; Mark Gallagher, Vancouver; Gary Glatter and Richard Taylor, McLean, Va.; Gary Hooper, Richmond, Va.; Bryan Johnson, Phoenix, Az.; Norman LeZotte, Atlanta; and Frank Nelson, Boston.

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Trends in life expectancy, consumerism, and regulation are, in fact, forcing healthcare organizations to explore new avenues for cost containment. Whether it be the exponential growth in senior housing, the shift from hospital to ambulatory care, or the increasing pressure on payors to reduce the cost of care without compromising the quality of outcomes, the challenges facing healthcare organizations are growing more complex by the year.

"When a $2.2 trillion industry experiences this degree of upheaval, the players are challenged to maximize all economic and operational efficiencies," said Mr. Taylor, who is based in McLean, Va. "When properly aligned with a healthcare client's business goals and requirements, real estate can be very effective in mitigating some of the pressures associated with such changes."

Many of Cushman & Wakefield's Healthcare Practice Group professionals are recognized authorities on healthcare real estate regionally and throughout the United States and Canada. The firm's healthcare valuation team performed more than 1,200 valuation and consulting assignments in 2007 for property totaling more than $2 billion in value.

"The healtheare expertise at Cushman & Wakefield is both broad and deep," said Mr. LeZotte, who is based in Atlanta. "Working together, we offer clients an integrated and comprehensive approach to optimizing their real estate. They want to focus on their daily operations, on making their business successful. We simply ensure they can do so with the confidence in knowing their real estate assets are supporting and furthering their goals and efforts." Mr. LeZotte added.

The Healthcare Practice Group draws from numerous service disciplines, including business consulting, valuation, investment sales, capital markets, property management and brokerage. To address the breadth of the healthcare industry, Cushman & Wakefield has structured the Practice as an association of four client service areas:

Senior housing and healthcare investments; Hospitals and healthcare practice groups; Healthcare payors, plans, and specialty services; Medical/academic properties.

Each of these service areas are represented in the Practice's Executive Committee, a cross-section of the firm's most experienced transaction and advisory professionals in each healthcare specialization.

Together, they address issues such as raising cost effective capital, improving the patient-physician experience, effectively planning for growth and the future, reducing administrative expenses, improving return on invested capital, and improving the performance of real estate assets.

"As real estate professionals, the vehicle of our service delivery is real estate," said Mr. Taylor. "But as Healthcare Practice Group specialists, we approach service delivery with a business and operations perspective--specific to healthcare--that is very unique in the real estate industry. Many of our Practice members have worked directly in the field of healthcare. For our clients, the difference is tangible."

Business Services Industry

Cushman & Wakefield launches healthcare practice

Real Estate Weekly, April 16, 2008

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