Wall Street firms aren’t the only ones heading to Florida.
In the midst of the pandemic, several orthopedic practices decided to open up shop in the Sunshine state.
A trade publication for news related to spine surgery, Becker’s Spine Review, cited all the common reasons for businesses moving to the state in a recent article — Florida’s demographics, lifestyle and tax-friendliness. It also pointed out Florida was among the first states to loosen restrictions on recreational and youth activities, which, according to Becker’s, adds to the appeal for orthopedic practices.
Becker’s reported, “two major orthopedic groups based in the Northeast recently expanded into the Sunshine State, with more expected to follow in the coming years, as Florida is expected to become arguably the biggest territory for orthopedic care.”
Philadelphia-based Rothman Orthopaedics partnered with Altamonte Springs-based AdventHealth and is developing a $100 million headquarters in Orlando, according to the article. Additionally, New York City-based Hospital for Special Surgery opened a 60,000-square-foot hospital in West Palm Beach, Fla., through a partnership with Dallas-based Tenet Healthcare during 2020.
Florida-based orthopedic groups are also growing. Becker’s reported Florida Orthopaedic Institute in Tampa merged with Clearwater-based OrthoCare Florida in March to include 150 providers across 17 locations and became the biggest orthopedic group in the state.
One of the biggest orthopedic hospitals in the country, Orlando Health’s Jewett Orthopedic Institute, broke ground in Orlando last year. This $189 million project will reportedly have 75 beds, 10 operating rooms and an outpatient surgery center with an additional 10 ORs.
“As a warm-weather state, Florida has a big recreational community and a lot of sports-related injuries,” the Becker’s article said. “It also has a lot of people with aging orthopedic problems such as total joint replacement and spinal stenosis.”
“Floridians, as they age, stay as active as they were when they were younger,” Martin Roche, MD, director of hip and knee arthroplasty at HSS Florida in West Palm Beach told the trade publication. “I’m doing knee surgeries for people in their 80s that are playing pickleball, tennis and golf.
“The weather promotes a more active lifestyle, which their social bond with their friends and family is built around,” he said. “It’s also a much more tax-friendly state.”