Boston Medical Center Health System and
Omicelo partner to develop a new sustainability management and real
estate optimization firm
BOSTON, July 9, 2024
/PRNewswire/ -- Oakwell is a comprehensive solution for health
system sustainability management and real estate optimization. The
new company partners with hospitals and health systems to develop
custom energy efficiency and consumption reduction programs that
reduce spend, improve balance sheets, and free up capital that can
be reinvested in patient care. Oakwell was founded by healthcare
visionary leaders at Boston Medical Center Health System (BMCHS), a
nationally recognized leader in healthcare sustainability and
environmental excellence, and Omicelo, a sustainability-focused
investment group.
Healthcare organizations are spending $60
billion annually on construction costs to meet patient
demands, preserve fiscal wellbeing, increase real estate portfolio
sustainability, and mitigate environmental hazards. Additionally,
government regulations continue to evolve, and health systems are
being challenged to find solutions that reduce their environmental
footprint and enhance operational efficiency. However, many health
systems struggle with knowing where to start on their
sustainability and real estate optimization journey, or how
sustainability can strengthen their balance sheet.
Oakwell offers health systems custom sustainability and real
estate strategies that reduce energy consumption and yield value
and significant cost savings, freeing up capital that can be
reinvested in clinical care and health system operations. Oakwell's
offerings can help mitigate challenges currently facing health
systems, including patient access and capacity constraints. By
2035, Oakwell aims to create pathways for one million more people
to gain access to quality care with the savings that the company
will have produced for clients.
Oakwell's founding board members include seasoned executives
from Omicelo and BMCHS: Bob Biggio,
managing partner and senior vice president and chief sustainability
and real estate officer of BMCHS; Joshua
Pollard, managing partner and chief executive officer of
Omicelo; and Kathy Feeney, managing
partner and chief operating officer of Omicelo. Daily operations
will be led by Jack Nelson, head of
engineering; Shane Dunne, head of
sustainability management and Justina
Hierta, director of sustainability research.
The team will leverage proven methods to empower health systems
to conceptualize, implement, and meet climate and fiscal goals by
leveraging BMCHS' extensive experience and Omicelo's data-driven
approach to financial sustainability.
"Sustainability and real estate optimization are essential to
achieving long term financial success," said Bob Biggio, Oakwell board member and senior vice
president and chief sustainability and real estate officer of
BMCHS. "Oakwell takes a systems approach to improve efficiencies,
reduce waste, and enhance collaboration. The venture offers client
health systems integrated expertise across engineering, finance,
real estate, sustainability, technology, and healthcare."
Oakwell will leverage key learnings from BMCHS and industry
experts to create innovative models for sustainability. To date,
BMCHS' sustainability-focused efforts have resulted in over
$500 million in reduced costs and
averted capital spending. Oakwell can support health systems in
replicating this model.
"Oakwell is poised to revolutionize the healthcare landscape by
forging strategic partnerships with health systems and delivering
financially viable environmental and real estate optimization
solutions," said Joshua Pollard,
Oakwell board member and chief executive officer of Omicelo.
"Oakwell's approach not only prioritizes expanding access long-term
but also ensuring financial success for healthcare institutions. By
aligning financial success with environmental stewardship and
operational efficiency, Oakwell is leading the way towards a future
where healthcare systems thrive economically while preserving the
planet."
To learn more about Oakwell's innovative approach to healthcare
sustainability, visit oakwellteam.com.
About Oakwell
Oakwell is a comprehensive solution for health system
sustainability management and real estate optimization. Oakwell
offers real estate optimization services and holistic
sustainability management services across six key areas including:
energy, climate resilience, water, waste, food, and sustainable
procurement. Environmental initiatives are not only critical to
improving patient and community health, but innovative
sustainability planning is vital to long-term financial health.
Developed by Boston Medical Center Health System and Omicelo,
Oakwell partners with health systems to develop custom energy
efficiency and reduced consumption programs that reduce costs and
free up capital that can be reinvested in patient care.
Media Contact: media@oakwellteam.com
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SOURCE Oakwell