Mayor Karl Dean, state ECD Commissioner Bill Hagerty and others joined together today, just inside the Davidson County line, to announce the relocation of LifePoint Hospitals' home office.
LifePoint will take up residence in the fledgling Seven Springs development owned by Highwoods Properties near the intersection of Old Hickory Blvd and Interstate 65. The yet-to-be-built facility will contain approximately 203,000 square feet and is slated for completion in late 2013.
Highwoods said today that it expects to break ground next year on the building, which will be known as the LifePoint Hospitals Support Center. Additionally, that company is hoping that landing an anchor tenant like LifePoint will spur the continued development of the Seven Springs project, which has sat largely vacant for years.
“LifePoint strives to be the most exceptional hospital system in the country. Our Hospital Support Center is a natural extension of this goal,” said LifePoint Chairman, President and CEO Bill Carpenter. “By consolidating our corporate team into one location, we can better serve our hospitals in Tennessee and across the nation, strengthening their ability to provide the best possible care to their communities. We are proud to be a part of this region’s vibrant healthcare industry and look forward to continuing to expand our team, particularly in vital areas such as information technology.”
The relocation of a company the size of LifePoint is a significant boon for the Davidson County tax base, which in recent years has been on the losing end of corporate relocations as many companies fled for the suburbs.
In geographical terms, however, the move is far less significant. The hospital operator's new home will be a scant three miles from its current offices in Maryland Farms and will still technically be located in Brentwood. What a difference a short distance makes.
LifePoint has been performing well compared to its fellow hospital operators during the down economy. The company’s stock (Ticker: LPNT) has risen nicely since 2009 and its joint venture with Duke University Health System seems to be paying off, helping to drive expansion.