In addition to the well-being center, Dole says, the development will include medical facilities where doctors will provide diagnostic and outpatient recuperation services, along with a fitness center, a conference center and a television-production facility to focus on health and well-being programming. According to Dole's recently filed 10K report, the company executed a credit agreement in February 2004 that wouldprovide up to $250 million for development of the property.
One of the investors and operators of Dole's Westlake Wellbeing affiliate isArcus Enterprises Inc., a newly formed company owned by health-care providerWellPoint Inc. Arcus is building a similar well-being center on the Islandof Lana'i, Hawaii in connection with two hotels and golf resorts owned byCastle & Cooke Resorts LLC, a Dole affiliate. The Hawaii properties will also be managed by Four Seasons.
The well-being centers connect two of the biggest players in theirrespective industries. Dole Food Co. Inc. reported 2004 revenues of $5.3billion and lists itself as the world's largest producer and marketer offresh fruit, vegetables and flowers. Dole's chairman and CEO, David Murdock, is a perennial member on lists of the nation's richest individuals, who made his initial fortune in home-building and has since diversified into a wide range of property holdings and business ventures. Arcus parent WellPoint Inc. calls itself the largest health-benefits company in the US in terms of membership, with approximately 28 million members.
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