Physicians group says it still wants to buy old Woman’s Hospital

The physicians group that entered into a purchase agreement in May to buy the former Woman’s Hospital campus on Airline Highway is still interested in acquiring the facility, according to a spokesperson representing the group, despite troubles the group is having in getting financing for the deal. Glen Duncan says The Physicians Alliance Corp.—which describes itself as “a private, mostly physician-owned organization working to improve healthcare delivery systems for the benefit of patients and providers”—is working to find new investors after its initial financing deal fell through. “They were unable to put together financing in the way they wanted it before the purchase agreement expired,” Duncan explains, adding that he does not have any additional details. Woman’s announced on May 29 that it had reached an agreement with TPAC to sell the 24-acre campus at Airline Highway and Goodwood Boulevard, which was vacated earlier this month when the hospital moved into a new campus further south on Airline Highway. The deal was expected to close on July 11. A purchase price was never disclosed, but the 300-bed hospital campus had once been listed for $19 million. Beau Box Commercial Real Estate has the listing, the details of which you can see here. While many details were yet to be nailed down, TPAC had said they envisioned turning the campus into a specialty hospital. —Stephanie Riegel