"Novant land sale nets $120M for expansion plans"

Nexsen Pruet health care attorney Joe Kahn is quoted in a July 24th article in The Triad Business Journal entitled "Novant land sale nets $120M for expansion plans."

Steve Ivey reported on a deal in which Winston-Salem's Novant Health Inc. recently sold 22 buildings for more than $120 million dollars and other similar real estate transactions in the health care industry.

Kahn told Ivey that the recent increase in such deals is not “necessarily specific to health care, just typical of what’s going on in the economy.  Rather than have that money tied up in real estate, they can go ahead and sell it to get the revenue. Just like everybody lately, hospitals have taken a beating on their investments. This deal may have made sense in a great economy, but it’s certainly not unusual in the current environment.”

Joe Kahn regularly advises hospitals and physicians both in an outside general counsel capacity and on specific matters.  His practice focuses on assisting clients with strategic development and the implementation of goals within the regulatory framework applicable to health care entities and practitioners.