St. Louis-based SSM Health will spend $500 million to replace Saint Louis University Hospital within the next five years, according to a St. Louis Business Journal report.
SLU Hospital officially became part of SSM Health on Tuesday after Saint Louis University contributed the facility to SSM Health in exchange for a minority financial interest and governance rights in SSM Health.
Along with making capital investments in the current facility, SSM Health plans to build a replacement hospital and an outpatient care center in the immediate vicinity of the current hospital by 2020, according to the report.
As of Tuesday, details on the size of the new facilities were not yet available.
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