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Regional Medical Center San Jose has submitted a two-phase master plan to the city for a new east side campus that includes hospital construction and new medical office buildings during the next nine years.
The first phase of the project includes a $109 million expansion of the hospital to make room for a consolidation of San Jose Medical Center once it closes in 2007. A San Jose City Council vote on the master plan has not been scheduled since more work has to be done, such as traffic studies, but hospital officials are hoping for approval in early 2004.
Phase two would replace the main patient tower, which does not meet earthquake standards. But phase two hinges on whether or not the hospital can be financially successful after phase one is completed.
For years Regional Medical Center has been losing millions of dollars. The hospital hasn't turned a profit since FICA Inc. of Nashville, Tenn., purchased it about seven years ago, and doesn't expect to be out of the red this year, says Bill Gilbert, chief executive officer of Regional Medical Center San Jose.
In 2002, Regional had a net loss of $16.5 million, compared to a net loss of $7.6 million a year earlier, according to reports filed with the state. San Jose...