Healthcare Report: Double-digit growth continues for the surging healthcare sector
Jim Haughey, Director, Research and Analytics, Reed Construction Data -- Building Design & Construction, 7/1/2007 12:00:00 AM
Healthcare construction spending increased 14% over the last 12 months and is expected to continue expanding at the same pace through 2008. Healthcare starts, reported by Reed Construction Data, increased 16% in 2006 and are expanding at an 11% pace in 2007 through May.
Construction spending for hospitals jumped 23% in 2006. While spending is unchanged so far in 2007, it is expected to resume growing later this year with the rebounding economy. Spending for specialty medical buildings, such as offices and labs, dropped 11% in 2006, but has not fallen further so far in 2007.
Spending for nursing homes and other residential medical buildings increased 32% in 2006 and has continued to expand nearly as fast in early 2007. The recent surge in this market is expected to continue through next year, and is partly encroaching on the multifamily home market by offering a more attractive arrangement in a medical setting.
| Firm | Billings |
| Source: 2007 Giants 300 survey Note: This ranking is based on firms that made the Giants 300 list. |
|
| 1. HDR Architecture | 103.86 |
| 2. HKS | 66.49 |
| 3. Cannon Design | 58.66 |
| 4. Perkins+Will | 53.55 |
| 5. HOK | 52.62 |
| 6. Stantec | 50.26 |
| 7. URS Corp. | 49.40 |
| 8. PageSoutherlandPage | 42.57 |
| 9. RTKL Associates | 41.78 |
| 10. NBBJ | 39.31 |
| 11. Anshen+Allen | 38.52 |
| 12. Perkins Eastman | 38.50 |
| 13. BSA LifeStructures | 37.16 |
| 14. SmithGroup | 34.22 |
| 15. FreemanWhite | 34.00 |
| 16. Smith Seckman Reid | 32.40 |
| 17. Gresham, Smith and Partners | 31.42 |
| 18. Hammel, Green and Abrahamson | 30.65 |
| 19. RBB Architects | 27.80 |
| 20. Chong Partners Architecture | 27.55 |
| Firm | Revenue |
| Source: 2007 Giants 300 survey Note: This ranking is based on firms that made the Giants 300 list. |
|
| 1. The Turner Corp. | 1,737.54 |
| 2. McCarthy Building Cos. | 1,017.09 |
| 3. JE Dunn Construction Group | 896.70 |
| 4. Bovis Lend Lease | 835.03 |
| 5. Skanska USA Building | 684.00 |
| 6. Robins & Morton | 627.54 |
| 7. The Whiting-Turner Contracting Co. | 447.86 |
| 8. M. A. Mortenson Co. | 407.83 |
| 9. Hunt Construction Group | 398.00 |
| 10. Swinerton Inc. | 342.20 |
| 11. Balfour Beatty Construction | 337.41 |
| 12. HBE | 336.00 |
| 13. Hoffman Construction | 329.40 |
| 14. DPR Construction | 315.62 |
| 15. PCL Construction Enterprises | 309.72 |
| 16. Gilbane Building Co. | 247.18 |
| 17. Kitchell Contractors | 230.47 |
| 18. Clark Group | 227.43 |
| 19. William A. Berry & Son | 193.00 |
| 20. The Flintco Cos. | 191.80 |
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