Hospital CEO's Plans Give Community a Jolt
Saint Anthony reported a roughly $3 million net margin on total revenue of about $103.5 million in 2010, the latest period for which information is available.
But Saint Anthony needs a replacement hospital. There's money and vision to do that by 2016, says Medaglia, but the new facility will contain a lot more than a hospital, thanks to his enterprising vision and the cooperation of city officials.
In fact, it will contain one million square feet, retail tenants, a hospitality center available for community groups to rent, a day care center, an outpatient and specialty clinic, an education center, a recreation center, a variety of wellness programs aimed at the community, and a charter school.
And, oh yes, that new hospital.
"We really don't want to make this strictly a hospital project. It truly is a community campus initiative," says Medaglia, whose entrepreneurial vision was developed earlier in his career as an executive at Sara Lee, and later as a consultant at FTI Consulting.
It all sounds great for a new hospital campus in, say, Beverly Hills, or maybe Scottsdale. But maybe not the South Side of Chicago.
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