BETHESDA, Md.--(BUSINESS WIRE)--Global Medical REIT Inc. (NYSE:GMRE) (“Global Medical” or the “Company”), a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to leading clinical operators with dominant market share, announced today that it has further expanded the Company’s business development team with the appointment of Mark Kennedy as a Senior Vice President of Business Development.
The appointment of Mr. Kennedy follows the recent addition of Mr. Frank Wilich, Jr. in a similar role as the Company continues to build out its business development and acquisition functions. Mr. Kennedy brings additional experience in healthcare real estate and will help to lead the Company’s efforts in the southern US from the Dallas office. As a Senior Vice President of Business Development, Mr. Kennedy will focus on growing Global Medical’s strategic relationships with leading clinical operators with dominant market share. Mr. Kennedy, along with Mr. Wilich, report to the Company’s Chief Executive Officer, who, along with the Company’s Chief Investment Officer, lead the Company’s business development and acquisition efforts.
David Young, Chief Executive Officer of Global Medical REIT, stated, “We are excited to add Mark to our growing business development team and are confident his background and expertise will serve the company well as we focus on the growth of our property portfolio. Mark’s extensive experience and relationships in the healthcare industry will be an asset to our company and the operators with whom we partner. We are confident that he can effectively communicate Global Medical’s unique value proposition to clinical operators seeking to monetize or upgrade their facilities.”
Background on Mark Kennedy
Mark Kennedy brings extensive healthcare industry experience to Global Medical REIT. Prior to joining the company, Mr. Kennedy was Chief Development Officer for a Dallas-based physician-owned hospital corporation and also served as the Chief Executive Officer of its first surgical hospital located in Plano, Texas. In 1999 he co-founded Rockwall Hospital Corporation and served as its President and Chief Executive Officer until 2010.
Mr. Kennedy led Rockwall in its creation of two acute care physician joint ventured hospitals, netting approximately $325 million in patient gross revenues in the hospital’s first 18-24 months of operations. In the late 1990’s Mr. Kennedy was the Chief Operating Officer of Cornerstone Health Management, a $100 million Dallas-based hospital contract service company. He also served as Vice President of Development for Brim Healthcare of Portland, Oregon, and while responsible for covering roughly half of the United States, Mr. Kennedy developed approximately $200 million in managed revenues for the corporation.
Prior to that, he co-founded and served as Senior Vice President of Dallas-based Epic Healthcare Services, Inc., helping to grow this enterprise to the third largest U.S. for-profit hospital management company in less than three years, managing over $1.2 billion in gross revenues. He began his healthcare career with Baxter/American Hospital Supply Corporation and later with General Medical Corporation. Mr. Kennedy received his Bachelor of Business Administration in Management from Stephen F. Austin State University, and is currently completing his MBA, Healthcare Management at Western Governors University. He is a Founding Member of Physician Hospitals of America and is a retired Major, United States Marine Corps.
About Global Medical REIT Inc.
Global Medical REIT Inc. is a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to leading clinical operators with dominant market share. The Company intends to produce increasing, reliable rental revenue by expanding its portfolio, and leasing each of its healthcare facilities to a single market-leading operator under a long-term triple-net lease. The Company’s management team has significant healthcare, real estate and public real estate investment trust, or REIT, experience and has long-established relationships with a wide range of healthcare providers. The Company intends to elect to be taxed as a REIT for U.S. federal income tax purposes commencing with our taxable year ended December 31, 2016.