Bremner & Wiley Accelerates National Growth Plan
Released: 11/4/2004
Indianapolis (For Immediate Release) – In an effort to capitalize on the nationwide growth in healthcare, Bremner & Wiley has created a joint venture with Duke Realty, allowing Bremner & Wiley to accelerate their growth into several regional markets.
“We created this venture to couple our expertise in the healthcare development and management fields, with Duke’s tremendous development and construction infrastructure in several cities throughout the United States. Duke’s National Development and Construction division resources will allow us to continue providing hospitals and physicians with our comprehensive and compliance-driven development and management services, while adding Duke’s high-quality and cost-effective construction models and local market expertise,” states James Bremner, President and Chief Executive Officer, Bremner & Wiley.
U.S. healthcare construction expenditures are expected to top $33 billion by 2010, up over 50% from 2002. Almost 35% of these expenditures will be for outpatient facilities including medical office buildings, surgery centers, and clinics.
“Healthcare is now the nation’s largest industry, currently representing over 14% of the GDP and it is predicted to exceed 20% by 2020,” states Donald Dunbar, Executive Vice President and Chief Operating Officer, Bremner & Wiley. “This growth, in conjunction with patient demand for convenience, physicians’ interest in joint venture arrangements with the hospitals, and the aging of the baby boom generation, are all placing capital pressures on healthcare systems to develop new facilities. These enormous capital pressures are causing many hospital systems to rely on third-party healthcare development and management firms to bring a design/build model with capital/ownership for their medical office building and outpatient facility projects.“
The Bremner-Duke joint venture will allow Bremner & Wiley to utilize a flexible construction approach for hospital system projects. “Certain hospital systems will have a strong relationship with a general contractor, while others will suggest we issue a Request for Proposal to select the right general contractor,” states Charles Vogt, Chief Strategy Officer, Bremner & Wiley. “Our joint venture arrangement with Duke creates the ultimate flexible model for hospital systems. The Bremner-Duke design/build model will be utilized for many projects, while we will continue to utilize other general contractor firms when the hospital desires that process. With our healthcare expertise, Duke’s regional market infrastructure, and our flexible approach, we will have a competitive, flexible, and creative solution for each hospital system.”
Bremner & Wiley Inc is one of the nation’s leading developers and managers of healthcare facilities for hospital systems. Focused on a comprehensive and compliance-driven approach, Bremner & Wiley has developed over $500 million in healthcare facilities, and currently manages over 3,000,000 square feet of healthcare facilities.
Duke Realty Corporation is one of the largest real estate companies in the United States with a total market capitalization approaching $8 billion. Duke provides nationwide real estate solutions through its National Development and Construction division.
Contact: Chuck Vogt | Email