Trustees of RowanUniversity in Glassboro, N.J., agreed Tuesday to sell 100 acres of undeveloped land to Woodbury, N.J.-based Inspira Health Network for $11.5 million, enabling the health system to build a hospital just west of the university's main campus, reports Philly News.
Owing to a new property appraisal, the land sold for $2 million more than what was first proposed to university trustees two months ago. Inspira plans to build a 350,000-square-foot hospital facility on the plot.
Before the deal closes May 6, Rowan and Inspira plan to form an affiliation agreement to formalize partnership opportunities for faculty, staff and students, including research and internships.
"Inspira's new medical center will provide us with a wide range of educational opportunities, and it will act as an anchor that will attract healthcare providers, researchers and business to the area," Rowan President Ali Houshman said in a prepared statement.
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