As you may have heard, HonorHealth acquired a large parcel of land in North Scottsdale that was being auctioned by the State of Arizona.

We believe the property has great long-term value, and are committed to working with the City of Scottsdale to make sure that the healthcare needs of the Northeast Valley are responsibly developed, whether it be through expansion of our existing facilities or developing something on the newly acquired property.

We were able to acquire the land through a competitive bid process, because we were able to convert assets in our balance sheet for long-term strategic needs. This balance sheet also allows us to fund other large growth projects, including, but not limited to, the Deer Valley expansion and the Sonoran Crossing campus development.

The funds used to purchase the North Scottsdale land parcel are not “operating funds,” and thus the purchase of that land does not divert funds that would have otherwise been spent on health system operations (e.g. salaries, benefits, physician stipends,  etc.).