Healthcare Report: Double-digit growth continues for the surging healthcare sector

Healthcare construction spending increased 14% over the last 12 months and is expected to continue expanding at the same pace through 2008. Healthcare starts, reported by Reed Construction Data, increased 16% in 2006 and are expanding at an 11% pace in 2007 through May.

Construction spending for hospitals jumped 23% in 2006. While spending is unchanged so far in 2007, it is expected to resume growing later this year with the rebounding economy. Spending for specialty medical buildings, such as offices and labs, dropped 11% in 2006, but has not fallen further so far in 2007.

Spending for nursing homes and other residential medical buildings increased 32% in 2006 and has continued to expand nearly as fast in early 2007. The recent surge in this market is expected to continue through next year, and is partly encroaching on the multifamily home market by offering a more attractive arrangement in a medical setting.

Firm Billings Source: 2007 Giants 300 survey
Note: This ranking is based on firms that made the Giants 300 list. 1. HDR Architecture 103.86 2. HKS 66.49 3. Cannon Design 58.66 4. Perkins+Will 53.55 5. HOK 52.62 6. Stantec 50.26 7. URS Corp. 49.40 8. PageSoutherlandPage 42.57 9. RTKL Associates 41.78 10. NBBJ 39.31 11. Anshen+Allen 38.52 12. Perkins Eastman 38.50 13. BSA LifeStructures 37.16 14. SmithGroup 34.22 15. FreemanWhite 34.00 16. Smith Seckman Reid 32.40 17. Gresham, Smith and Partners 31.42 18. Hammel, Green and Abrahamson 30.65 19. RBB Architects 27.80 20. Chong Partners Architecture 27.55 Firm Revenue Source: 2007 Giants 300 survey
Note: This ranking is based on firms that made the Giants 300 list. 1. The Turner Corp. 1,737.54 2. McCarthy Building Cos. 1,017.09 3. JE Dunn Construction Group 896.70 4. Bovis Lend Lease 835.03 5. Skanska USA Building 684.00 6. Robins & Morton 627.54 7. The Whiting-Turner Contracting Co. 447.86 8. M. A. Mortenson Co. 407.83 9. Hunt Construction Group 398.00 10. Swinerton Inc. 342.20 11. Balfour Beatty Construction 337.41 12. HBE 336.00 13. Hoffman Construction 329.40 14. DPR Construction 315.62 15. PCL Construction Enterprises 309.72 16. Gilbane Building Co. 247.18 17. Kitchell Contractors 230.47 18. Clark Group 227.43 19. William A. Berry & Son 193.00 20. The Flintco Cos. 191.80