Sunday, October 30, 2011

Rothman Institute expands in South Jersey

"When Dr. Richard Rothman started the Rothman Institute in Philadelphia in 1970, he had nine doctors.

Today, it has become the region’s largest orthopedic practice, with 83 doctors, 14 offices and a specialty hospital in Bucks County, Pa., according to Rothman CEO Mike West.

The Rothman Institute has bought a 70,000-square-foot, four-story building on Route 73 and Greentree Road in Evesham for $5.8 million to house a medical facility. The seller was regional commercial real estate company Brandywine Realty Trust, based in Radnor, Pa. The building formerly housed a law office.

The facility will feature 45 exam rooms, three X-ray rooms and epidural injection suites.

“Our team is thrilled about this additional expansion into New Jersey,” West said. “We are especially grateful for the leadership of Mayor Randy Brown and the support of the community for their cooperation in the development of our new facility.”

Brown said he’s “overwhelmed and overjoyed” that Rothman has chosen the township as home to a large new medical facility.

“To have such a prestigious name on Route 73 in our town ... it opens the door for more businesses to want to relocate to Marlton,” Brown said Friday.

As towns fight to attract ratables, Brown said, Evesham is showing it’s a destination for shopping, dining and other attractions — and it continues to lure business in a sluggish economy.

“The demographics are outstanding, and the ease of access is the main reason we’re moving there,” West said. It will also be more convenient for patients coming from the Trenton area.

He said Rothman was outgrowing its facilities in nearby Voorhees and that was affecting patient volume. Rothman will take the top two floors of the new building, which should open in February or March, West said.

“We anticipate leasing out the other 25,000 square feet,” he said. “We had to basically gut it. We are rebuilding it.”

He said the Evesham site will employ 40 full-time employees; 20 doctors will rotate through the office.

Rothman has specialty-trained physicians in every orthopedic area, including hip and knee, spine, sports medicine, shoulder and elbow, foot and ankle, hand and wrist and physical medicine and rehabilitation.

It’s the company’s second big investment in the region in two years.

In September 2009, Rothman opened its first private specialty hospital in the building that once housed Pennsylvania’s first breast care hospital. Rothman moved into the Bensalem property formerly occupied by the for-profit Comprehensive Breast Care Institute of DSI.

The hospital was a first for the Rothman group, which is headquartered at Thomas Jefferson University Hospital in Philadelphia. Rothman wanted to open its own medical center for some time, but proposed congressional health care reforms that would restrict or prohibit the doctor ownership of hospitals fast-tracked those plans, West said."

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