Cone Health announced that it is expanding its Greensboro, North Carolina presence. The company has plans to add a new practice after buying a building less than a mile away from its flagship hospital, Moses H. Cone Memorial Hospital. Cone Health paid $1.7 million to acquire all but one unit in a Greensboro medical outpatient building (MOB), according to a filing with the Guilford County Register of Deeds Office.
Founded in 1953, Cone Health is a not-for-profit healthcare network serving more than half a million people in the Piedmont Triad of North Carolina. Cone Health has more than 13,000 employees and more than 700 physicians, along with 1,800 partner physicians. The health system includes a network of four acute care hospitals, a behavioral health facility, an accountable care organization and a health plan. Cone Health treats patients covered by a wide range of commercial health insurance, individual and family plans, Medicare and Medicaid. Cone Health’s Triad HealthCare Network is a doctor-led accountable care organization, managing and coordinating care for nearly 200,000 patients in Alamance, Guilford, Randolph, Rockingham and part of Forsyth counties.
The sale includes four of the five units in the MOB, comprising about 8,400 square feet. Cone Health plans to open a to-be-determined specialty practice in the building before the end of 2025.
The seller was Ganji Properties, a commercial property LLC owned by Dr. Jagadeesh ‘Jay’ Ganji, a cardiologist with Cone Health. His practice, Piedmont Cardiovascular, had previously occupied one of the Greensboro MOB units purchased by Cone Health. Cone Health said the practice will not remain in the building and a sign on the door referred patients to Cone Health’s cardiovascular services.
The remaining unit, #1E, is owned by Jumbo Properties LLC, which purchased the 9,382-square-foot space in 2007 according to county tax records. Unit #1E is occupied by the Piedmont Communities Spay/Neuter & Wellness Clinic. It is listed for sale by Brown Investment Properties.
In 2024, Cone Health spent more than $42 million on approximately 70 acres throughout the Greensboro and High Point areas. This purchase marks its first of 2025.
According to data in the LevinPro HC database, this transaction represents the 24th MOB deal of 2025, as well as the second in North Carolina. There were 213 MOB deals announced in 2024, 199 announced in 2023 and 217 announced in 2022.
