Valley Buys Former Blood Bank Building in Paramus

With the aid of a large donation from philanthropist David Bolger, Valley Hospital has purchased the former Community Blood Services building in Paramus and plans to transform the facility into a research lab with outpatient services.

According to the hospital, the building will be renovated to serve patients who have undergone cardiac surgery, angioplasty, cardiac ablation, pacemarket implantation, and other life-saving procedures at the hospital's heart and vascular institute. Along with housing Okonite Medical Research Laboratories, the site will also be the new headquarters of the Valley Arrhythmia Institute, the largest practice of electrophysiology in the tri-state area. Finally, the Center for Cancer Research and Genomic Medicine will move to the new Linwood Avenue digs.

“This facility is a tremendous opportunity for Valley to consolidate all our research capabilities and build a world-class facility dedicated to advancing medicine and discovering novel medical and surgical approaches to diagnosing and treating heart disease and cancer,” Audrey Meyers, president and CEO of The Valley Hospital and Valley Health System, said in a news release.

The hospital received the go-ahead to renovate the facility by the Paramus zoning board in March of 2011.

Noted philanthropist David F. Bolger donated $5 million toward the purchase of the building, located at 970 Linwood Avenue, Valley Hospital said. Okonite, based in Ramsey, also committed $5 million toward research initiatives, the hospital stated.

“This building is ideally suited for medical research because we can make use of existing laboratories used by the blood bank, which we will also modernize and maintain for cutting-edge research activities,” said Maria Mediago, vice president of facilities management at Valley. 

When renovated, the building will building will hold physician and staff offices, exam rooms, a lobby, an employee lounge and waiting areas. The exterior will also see additional upgrades, Mediago said. Designs are being finalized. A building dedication and ribbon-cutting ceremony is scheduled for June 17.