Company works to keeps physicians in ToledoWritten by Brandi Barhite | Associate Editor | firstname.lastname@example.org
Don Helvey wants to make sure the best medical doctors remain in Northwest Ohio.
His company, NuEquity Development, specializes in the design, development and building of medical offices and gives physicians the opportunity to co-own their space.
“That is all we do is medical buildings,” Helvey said. “I have a model put together that offers ownership to physicians. Let’s say a doctor wants to go out and own his space, we find a location, a new or existing building, and depending on how much money he wants to invest, will dictate how much he will own.”
Helvey can offer ownership with no out-of-pocket money as well. If someone wants to own in the future, he can work with that, too.
“I recognize there is a need to retain kids out of school … if you stay in Toledo, here is an opportunity for ownership. I know you have serious debt right now and you do not have any money to invest and I can help you with that.”
Helvey said NuEquity enables doctors to secure and maintain ownership positions in premier medical offices without sacrificing their medical practices.
“It is hard for a doctor to stay focused on real estate when he is busy with being a doctor — we are going to be partners — I will keep you apprised of what is going on,” he said.
“If the doctors say, ‘I do not want to own,’ we can take them as a tenant — if someone came to me and said, ‘I have a group of doctors; we want to do our own deal,’ I will work with them.”
The buildings are generally 10,000 square feet and up. If a group of doctors want only 5,000, he would find someone else to go on the other side. The idea is to fill a building with doctors who can feed each other recommendations.
“We are really flexible … I grew up with a lot of the guys. I watched what has happened in the industry. The doctors who have committed to staying in Toledo [or anywhere] are getting hit with higher malpractice insurances, and doctors are looking at other areas of revenue. Owning real estate is good to invest in. If you are going to be somewhere for 20 years, why not invest in yourself?”
Helvey grew up in the Old West End, graduating from Central Catholic High School and UT. He worked at St. Vincent’s Medical Center, moving his way up from housekeeping to administrative director of support services. While at St. Vincent’s, he attended UT over a series of years, graduating with a bachelor’s in liberal arts in 1984.
During his time at St. Vincent’s, he got his real estate license, eventually leaving St. Vincent’s and overseeing property management for the hospital via contract. When that ended, he decided to stay in real estate and got his brokerage license.
“This isn’t about what hospital system you favor, this is all about retaining physicians in this area,” Helvey said of his development company.
Not only does Helvey believe Toledo is a great place to live, but he believes in the health care system. Keeping physicians in the area is imperative to correcting the brain drain.
“There is something about Toledo,” he said. “I have lot of friends I graduated with from Central Catholic; five or six moved out to San Diego. It is great out there and I always think, ‘what a great place to live.’ But every time we get into a car to go somewhere, it takes 40 minutes to get anywhere. Quite frankly, I do not think I could do that. I am used to getting in my car at anytime of the day and getting there in 20 minutes.”