Catalyst Healthcare Real Estate

What Catalyst Healthcare Real Estate does

Catalyst Healthcare Real Estate is a private, for-profit healthcare real estate development and investment firm founded by Chad Henderson in 2011/2012 and headquartered in Pensacola, Florida, with additional offices in Milwaukee, Dallas, and Central Florida. The firm concentrates exclusively on healthcare real estate, delivering all development and acquisition work in-house and serving integrated health systems, physician groups, academic medical systems, and hospitals. Over roughly 13 years it has developed and invested in approximately 4 million square feet across 21 states, with a portfolio that includes inpatient rehabilitation hospitals, medical office buildings, ambulatory surgery centers, freestanding emergency departments, and specialty athletic/sports-medicine facilities.

The company's offering is structured as a unified platform of five core services — Development, Acquisition, Strategy, Leasing, and Asset & Property Management — all provided on an in-house basis. It executes both ground-up development (e.g., a programmatic pipeline of PAM Health inpatient rehabilitation hospitals, the $138M FSU Dunlap Football Center, and MUSC/Intuitive Health hybrid ER-urgent care facilities) and portfolio acquisitions (e.g., a 21-property, 8-state, 530,182 SF portfolio for roughly $150 million in 2018). There is no proprietary software or AI component; the business is a specialized, relationship- and capital-driven real estate operator.

Catalyst monetizes through development fees and professional services, acquisition activity, asset/property management, leasing, and strategic advisory, and holds equity in developed and acquired healthcare assets. Its go-to-market is direct enterprise engagement with health systems and providers, executed largely through joint ventures and programmatic partnerships with capital providers — including a $1.5 billion strategic partnership with National Real Estate Advisors, a $300 million joint venture with Heitman (~$50B AUM), and prior work with Physicians Realty Trust, HRE Capital, and Capital One. Pricing is project-specific and not publicly disclosed.

Name

Catalyst Healthcare Real Estate

Legal name

Catalyst Healthcare Real Estate

Website

https://catalysthre.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

Catalyst Healthcare Real Estate is a private, nationwide healthcare real estate development and investment firm providing in-house development, acquisition, leasing, strategy, and property management to health systems, physician groups, academic medical centers, and hospitals across 21 states.

Ownership category

akta.pro rank

Product category

Healthcare Real Estate Services

NAICS

Other Activities Related to Real Estate (531390), Offices of Real Estate Agents and Brokers (53121)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate (6500)

akta.pro primary industry

Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH)

akta.pro secondary industries

Healthcare & Medical Office Property Management (BPAJAGAF), Healthcare & Medical Office Brokerage (BPAJABAF)

Keywords

• Healthcare real estate development
• Medical office buildings
• Healthcare property acquisitions
• Healthcare facility management
• Inpatient rehabilitation hospitals

Headquarters

HQ city

Pensacola

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Development Services: Provides 100% in-house development services for healthcare facilities including inpatient rehabilitation hospitals, medical office buildings, and ambulatory surgery centers
2. Acquisition Services: Acquires healthcare real estate assets for investment portfolios
3. Asset & Property Management: Ongoing management of healthcare properties
4. Strategy Services: Strategic advisory services for healthcare real estate navigation

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Catalyst Healthcare Real Estate is a nationwide full-service healthcare real estate firm that delivers 100% in-house development, acquisition, strategy, leasing, and asset & property management services. The firm concentrates exclusively on healthcare real estate, building and investing in inpatient rehabilitation hospitals, medical office buildings, ambulatory surgery centers, freestanding emergency departments, and specialty athletic/sports medicine facilities for integrated health systems, physician groups, academic medical systems, and hospitals across 21+ U.S. states.

Product overview

Catalyst Healthcare Real Estate is a nationwide full-service healthcare real estate firm offering a unified platform of integrated real estate services. The company's core offerings include Development Services, Acquisition Services, Strategy Services, Leasing Services, and Asset & Property Management - all provided 100% in-house. Their specialized facility development includes inpatient rehabilitation hospitals (for partners like PAM Health), medical office buildings, freestanding emergency departments with urgent care, and athletic healthcare/sports medicine facilities. The company focuses exclusively on healthcare real estate, providing comprehensive solutions for integrated health systems, physician groups, academic medical systems, and hospitals across 21+ states.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Services

Quantifiable outcome

• Delivered 6+ inpatient rehabilitation hospitals nationwide for PAM Health with 5 completed, 4 under construction, and 3 in development
• +2 more outcomes

Named customers17 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

18 partnerships are on record, tiered major and core.

• MUSC HealthmajorStrategic or Co-development Partner · 30 October 2025MUSC is South Carolina's only comprehensive academic health system with a mission to preserve and optimize human life through education, research and patient care. Partnership with Catalyst and Intuitive Health for hybrid freestanding ER & urgent care facilities in South Carolina, expanding MUSC Health's ambulatory footprint.
• Intuitive HealthmajorStrategic or Co-development Partner · 30 October 2025Founded in 2008, Intuitive Health pioneered the combined emergency room and urgent care model. Partners with established health systems nationwide including Arizona, Delaware, Florida, Kentucky, Indiana, New Mexico, Ohio, Oklahoma, Texas, Virginia and Washington. Columbia, SC location marks entry into South Carolina.
• Jackson Heart ClinicmajorStrategic or Co-development Partner · 15 August 2025Renowned cardiology practice with more than 40 years of service. Occupies space in the 80,000 SF medical office building developed by Catalyst in Ridgeland, Mississippi alongside anchor tenant UMMC.
• Andrews MedicinemajorStrategic or Co-development Partner · 9 August 2022Dr. James Andrews founded Andrews Medicine to ensure world-class orthopedic and sports medicine care is accessible to communities. Strategic partnership established in 2022 to bring Andrews Medicine's expertise to facilities developed by Catalyst. Partnership focused on orthopedics and sports medicine facilities including Lafayette project.
• MedProperties Realty Advisors LLCmajorStrategic or Co-development Partner · 12 August 2020MedProperties is a Dallas-based healthcare real estate private equity firm that invests in development of new, value-add, and stabilized healthcare real estate. Multiple joint ventures with Catalyst including Fort Wayne OPS North wellness/sports medicine MOB and Founders Square MOB in Naples, FL. Partnership through MedProperties Fund III LP.
• PAM HealthcoreStrategic or Co-development PartnerPAM Health provides post-acute healthcare services through more than 100 long-term acute care hospitals, medical rehabilitation hospitals, behavioral health hospitals, wound care clinics and outpatient physical therapy locations in 22 states. Catalytic has developed 6+ inpatient rehabilitation hospitals for PAM Health with a programmatic partnership established in 2021. PAM Health leases and operates facilities developed by Catalyst.
• Lafayette General HealthmajorStrategic or Co-development PartnerLafayette General Health is a non-profit, community-owned regional healthcare system serving south-central Louisiana. Catalyst acquired Lafayette General Orthopaedic Hospital's MOB and formed ongoing real estate partnership including Lafayette General Foundation. Partnership included analytics to validate transformation to first hospital dedicated to orthopaedics in Louisiana.
• Great Falls ClinicmajorStrategic or Co-development PartnerGreat Falls Clinic is a market-leading healthcare provider in Montana. Catalyst and National acquired the 244,500 SF Great Falls Clinic Campus including surgical hospital, ASC, and MOB. All three assets are master leased to Great Falls Clinic with a $63 million expansion project underway.
• Vanderbilt University Medical CentermajorStrategic or Co-development PartnerVanderbilt University Medical Center operates Vanderbilt Health with 18 primary care patient access points. Vanderbilt Health is a tenant in the Spring Hill, TN medical office building acquired by Catalyst. Services include family medicine, general walk-in clinic, and primary care.
• Physicians Realty TrustmajorStrategic or Co-development PartnerPublicly traded healthcare REIT (NYSE: DOC) that has partnered with Catalyst on numerous projects since 2015. 17 of the 21 properties in the $150 million portfolio acquisition were purchased directly from Physicians Realty Trust.
• Texas Health Presbyterian HospitalmajorStrategic or Co-development PartnerTexas Health Presbyterian is the second largest hospital in the Dallas/Ft. Worth region and holds over 50% market share of inpatient cases. Located adjacent to Greenville Medical Tower acquired by Catalyst in Dallas, TX. Provides cardiovascular groups, imaging center, and surgery centers.
• Florida State UniversitymajorStrategic or Co-development PartnerCollaborative project with FSU Athletic Department and Seminole Boosters for a 150,000 SF specialty facility encompassing healthcare, human performance, skills training, and wellness. The Dunlap Football Center provides world-class training, recovery, and performance facilities for FSU football program.
• BayhealthmajorStrategic or Co-development PartnerBayhealth is central and southern Delaware's largest healthcare system with Bayhealth Hospital Kent Campus, Bayhealth Hospital Sussex Campus, freestanding Emergency Department, and numerous satellite facilities. Catalyst and Bayhealth established a real estate joint venture for the PAM Health Rehabilitation Hospital of Sussex project.
• Ochsner HealthmajorStrategic or Co-development PartnerLouisiana-based not-for-profit health system consistently ranked among top hospitals and children's hospitals in Louisiana. Catalyst and Heitman announced $19 million renovation and expansion of Ochsner Lafayette General Orthopedics & Sports Medicine Institute. Ochsner is a member of the Ochsner Health Network.
• Baptist Health CaremajorStrategic or Co-development PartnerBaptist Health Care is a not-for-profit health care organization based in Northwest Florida committed to helping people throughout life's journey. Long-standing partnership with Catalyst for medical office building developments including on new hospital campus. Baptist is one of the largest non-governmental employers in Northwest Florida.
• Lutheran Health NetworkmajorStrategic or Co-development PartnerLutheran Health Network has nine hospitals throughout Indiana. Catalyst developed Fort Wayne OPS North wellness/sports medicine MOB on Dupont Hospital campus (part of Lutheran Health Network). Also developed freestanding emergency department in Fort Wayne community.
• Kettering HealthmajorStrategic or Co-development PartnerKettering Health is a partner with PAM Health in the joint venture operating the Miamisburg, Ohio inpatient rehabilitation hospital. The 62-bed facility serves patients needing complex care with in-house physical, occupational, and speech therapy services.
• Ocala EyemajorStrategic or Co-development PartnerOcala Eye is the largest, most experienced eye care practice in North Central Florida with over 50 years of service. Largest ophthalmologic physician group within 25 miles. Catalyst and National developed 22,382 SF medical office building and ASC for Ocala Eye in Wildwood, FL (seventh location).

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Healthpeak Properties: Public REIT (absorbed Physicians Realty Trust in 2024) focused on outpatient medical and lab/research facilities; competes with Catalyst for MOB acquisitions and to anchor healthcare development deals.
• Ventas: Large diversified healthcare REIT with a meaningful medical office portfolio; competes with Catalyst for stabilized MOBs and large healthcare development mandates.
• Welltower: Largest publicly traded healthcare REIT, focused on senior housing, outpatient medical, and post-acute properties. A broad incumbent in the same asset classes where Catalyst develops and competes for portfolio acquisitions.
• Medical Properties Trust: Public REIT focused on acute care and post-acute hospitals; the most direct incumbent in the inpatient rehab and specialty hospital asset class where Catalyst builds for PAM Health.

Direct peers

• Anchor Health Properties: Private, healthcare-focused real estate investment, development, and management firm that acquires, develops, and owns MOBs and specialty medical facilities for health systems — directly comparable to Catalyst's vertically integrated business model.
• NexCore Group: National, privately held healthcare real estate developer that delivers MOBs, ambulatory care, and specialty facilities through integrated development, acquisition, and asset management — closely aligned with Catalyst's full-service platform.
• Rendina Companies: Private healthcare real estate developer specializing in MOBs, medical plazas, and inpatient facilities for hospitals and health systems; similar asset mix and customer base to Catalyst.
• Flagship Healthcare Properties: Private healthcare-only real estate investment and management firm focused on medical office and outpatient facilities; comparable in exclusive healthcare focus and asset-management orientation to Catalyst.
• MedProperties Realty Advisors: Dallas-based private equity healthcare real estate firm that funds development of MOBs, ambulatory, and specialty assets — already a JV partner of Catalyst on multiple projects, but operates as a competing capital and development platform in the same niche.
• Caddis: Private healthcare real estate developer (formerly Caddis Partners) focused on MOBs, surgery centers, and post-acute facilities developed for hospital and physician clients — directly comparable specialty healthcare RE operator.

Market position

Strengths4 records

Weaknesses5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/catalyst-healthcare-real-estate

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Catalyst Healthcare Real Estate