Rochester, Minn.-based health care provider Mayo Clinic plans to spend $700 million annually on renovations and new construction through 2017. That’s nearly double the $415 million it spent last year. About 60% of the capital spending will go toward replacing and renewing facilities, equipment, and information technology.
Among the projects will be a $300 million investment for three collaborative centers started in recent years to turn medical discoveries into therapies. These include ways to grow or regenerate tissues and organs from patients’ own cells, methods to tailor treatments to fit specific genetic backgrounds, and exploration of health care redesign.