Mayo Clinic to spend $700 million per year on renovations, new construction through 2017

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.
Feb. 29, 2012

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.
(http://finance-commerce.com/2012/02/mayo-clinic-to-spend-billions-on-capital-projects/

About the Author

Drew Ballensky

Drew Ballensky is general manager of Duro-Last Roofing, Inc.’s central U.S. facility in Iowa and company spokesman for Duro-Last’s cool roofing, sustainability and architectural education programs. He is past-president of the Chemical Fabrics and Film Association and chairman of CFFA’s Vinyl Roofing Division. Drew earned his bachelor’s degree in industrial technology from the University of Northern Iowa and master’s degree in business administration from Florida State University. Drew has over 29 years experience in business and industry in various engineering and managerial capacities. He has worked in the U.S. and Canadian operations for a major international manufacturer of pre-engineered steel buildings, was a financial analyst with a major athletic apparel manufacturer and was an owner of a general contracting company.
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