The expansion includes three new clinical buildings, which will result in the hospital growing to 745 beds and more than 100 private rooms. It is estimated the project will take a decade to complete.
Construction of the first building is set to begin in 2023, and the new building is designated for clinical care and education. Additional details like the cost of the first building were not provided by Cooper Health.
“Not only does this announcement represent the culmination of Cooper’s amazing turnaround since it faced bankruptcy at the turn of the century, but it is also a sign of our commitment to and faith in Camden, its residents, and our shared future,” Cooper chairman George E. Norcross III told The Philadelphia Inquirer.
Cooper University Hospital’s last major expansion was a decade ago when it opened the $220 million Roberts Pavilion.
In 2021 Cooper recorded an operating profit of $159.6 million on $1.8 billion in revenue. At the end of June, it had $858 million in cash relative to its $270 million in long-term debt.
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