Los Angeles, CA – September 21, 2009 — CB Richard Ellis Group, Inc. (NYSE:CBG) today announced it has entered into an agreement to provide real estate outsourcing services for West Penn Allegheny Health System (WPAHS), one of the premier healthcare organizations in Western Pennsylvania.
CB Richard Ellis will provide a full range of services for WPAHS, including facilities, project and transaction management, lease administration and strategic planning. WPAHS operates two tertiary and four community hospitals, comprising nearly 2,000 beds, in the greater Pittsburgh region. This is the first time that WPAHS has contracted with a third-party service provider to manage its real estate.
WPAHS occupies approximately 6.0 million sq ft in 250 buildings, including acute and out-patient facilities. In addition to providing healthcare services, WPAHS is also extensively involved in medical research and education. Its largest properties are Allegheny General Hospital and The Western Pennsylvania Hospital, both academic medical centers.
"Our decision to partner with CB Richard Ellis was based upon our continued efforts to improve our patients’ experience, as well as reduce the cost structure at our facilities," said Roy Santarella, WPAHS’ executive vice president and chief administrative officer.
WPAHS adds to a growing roster of healthcare organizations that have outsourced the management of their facilities and real estate needs to CB Richard Ellis. Some of these include: The Cleveland Clinic, Baylor Health Care System, HCA, Inc., Group Health, Partners Health, and MultiCare.
"Our deep experience in the healthcare sector and broad service offering enable us to advance WPAHS’ quality and cost-control mission and further its strategic goals," said Dan Dolsen, managing director in CBRE’s National Healthcare Services Group. "We are especially excited to be providing our full offering of facilities and project management, portfolio strategy and transaction services to all of the organization’s patient environments."
"WPAHS is a pillar of our local community, and we are very pleased to be selected to work with this prestigious institution. We are confident that we will add significant value to their operating model," said Jack Norris, Managing Director of CB Richard Ellis’ Pittsburgh office.
About West Penn Allegheny Health System
West Penn Allegheny Health System is a physician led healthcare organization based in Pittsburgh, Pennsylvania. Recognized as the healthcare quality and personalized service leader in its market, WPAHS’ sole purpose and mission is to improve the health of the people in the western Pennsylvania region. Offering a comprehensive range of advanced medical and surgical services, the System consists of two tertiary academic medical centers in Allegheny General Hospital and The Western Pennsylvania Hospital, and four community hospitals; Allegheny General Hospital Suburban Campus in Bellevue, PA, Alle-Kiski Medical Center in Natrona Heights, PA, Canonsburg General Hospital in Canonsburg, PA and The Western Pennsylvania Hospital Forbes Regional Campus in Monroeville, PA. Allegheny General Hospital is the western Pennsylvania campus of Drexel University College of Medicine and The Western Pennsylvania Hospital serves as a campus of the Temple University School of Medicine.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2008 revenue). The Company has approximately 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 "best in class" company and Fortune 100 fastest growing company two years in a row. Please visit our Web site at www.cbre.com.