Emory puts $1.5B in new construction on hold

Struggling with the slow economy, Atlanta's Emory HealthCare has put several construction projects on hold, including a new hospital, deferring work valued at a total of about $1.5 billion.

In doing so, it's become part of a not-so-surprising trend. Not only did many hospitals and health systems postpone or cancel capital investments in 2008, many are expected to do so this year as well.

Emory officials originally intended to spend about $1.1 billion for new hospitals that would add about 300 combined beds and clinic facilities, with the remaining $400 million earmarked for medical research facilities.

Instead, Emory officials say that they'll work on smaller, incremental improvements to the center's existing facilities, as well as supporting smaller construction projects already under way.

To learn more about Emory's plans:
- read this Modern Healthcare article (reg. req.)

Related Articles:
Study: Medical facilities to defer projects in '09
For hospitals, something's gotta give
Trend: Hospital investment returns still looking shaky
Painful cash crunch leaves few good options