Just seven weeks after breaking ground on a $60 million expansion, Peconic Bay Medical Center announced plans to expand to downtown Riverhead by purchasing space at the former Suffolk County National Bank campus on Second Street and Griffing Avenue.
The new location will provide nearly 60,000 square feet of space for the medical center, which is part of the Northwell Health network.
PBMC is purchasing the space from People’s United Bank, which formally acquired Suffolk County National Bank earlier this year. The transaction is expected to close by the end of the year, PBMC said Thursday night.
“This former bank campus will allow the medical center to bring much needed new programs and jobs to the East End and continue to position Riverhead as the regional medical hub for Eastern Suffolk County,” PBMC President and CEO Andrew Mitchell said in a press release announcing the expansion.
In July, PBMC held a groundbreaking to mark the beginning of a two-year construction project that will double the current size of the emergency department and add a rooftop helipad, two cardiac catheterization labs, an electrophysiology suite, recovery rooms and an 18-bed intensive care unit.
“This has been an exciting and eventful year for us,” said Emilie Roy Corey, Chair of the PBMC Foundation. “First, we opened our new trauma center. We also just broke ground on the Kanas Regional Heart Center and new critical care tower. This new acquisition will help us continue the momentum and give us more room to grow.”
Riverhead Town Supervisor Sean Walter said in a press release that the facility will bring new hires, more business and tax revenue to the town.
“The growth of our community hospital into a world-class regional medical center is a boost for the entire region, and we are thrilled to see People’s United and PBMC strengthen their commitment to our community,” he said.
Suffolk County National Bank opened its first branch in downtown Riverhead on Feb. 18, 1890. Its headquarters remained in Riverhead as the bank expanded to dozens of branches over the years, but People’s United Financial Inc., the holding company for People’s United Bank, reached an agreement to acquire Suffolk Bancorp, the holding company for SCNB, in 2016.
Howard Bluver, the New York market president of People’s United Bank, said it was an opportunity to ensure the unused space still benefits Riverhead.
“We take great pride in supporting our local communities,” he said in the release.