With Houston-area healthcare systems under financial strain, their real estate projects have taken a hit from the coronavirus, according to a new report.
The economic impact on Houston healthcare providers comes from a double whammy of higher COVID-19 expenses, and lower revenues from the state's orders pausing elective surgeries, said the "Houston Healthcare Mid-Year 2020 Research and Forecast Report," by Colliers International.
"With pressure to reduce expenses and a stagnant local economy, healthcare systems are tapping the brakes on previously planned expansions," wrote report author Lisa Bridges, the company's director of market research in Houston. "Some pre-pandemic planned construction projects and lease transactions are moving forward. The more ambitious capital projects have been put on hold."
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Angela Morris
Angela Morris is ALM Media's Texas litigation reporter. She covers lawsuits in all levels of Texas state and federal courts. Based in Austin, Morris earned journalism and government degrees from the University of Texas at Austin in 2006, and since then, has worked primarily as a reporter and writer, but also has skills in videography, photography and podcasts. Follow her on Twitter at @AMorrisReports.
