There are several reasons for the construction projects, said Eric Obeck, senior regional president for Hancock Bank (NASDAQ: HBHC). Obeck, based in Tampa, leads Hancock's expansion in health care lending.

Greater Tampa Bay, with its expanding population and mix of government, commercial insurance and private payers, is an attractive market for providing health care services, Obeck said.

Additionally, Florida is a "certificate of need” state, meaning that in order to build a new hospital or expand the number of beds within an existing hospital, approval from the Agency for Health Care Administration is required.

"So, building outpatient facilities within the region, but not on the main hospital campus, represents one way for hospitals to attempt to expand their market share across a larger area,” Obeck said.

The deal climate also is a factor.

"There are more and more affiliations happening these days between hospitals and physician groups. In some cases, those affiliations are being coupled with promises to expand facilities,” he said.

At the same time, banks are actively looking for ways to make good loans. Net interest margins, which is the difference between what a bank pays on deposits and what it collects on loans, is the key revenue source for many banks and they are holding tight at historic lows, so most banks need to make more loans to grow their revenue.

"This heightened competition amongst banks and availability of credit is making it attractive for health care providers to consider capital expansion projects right now. Those health care providers that are good credit risks are readily able to find capital,” Obeck said.

Tampa General last week held a topping off ceremony for its first outpatient medical center, which will provide a broad spectrum of services under one roof. It will house the hospital's first free-standing adult and pediatric emergency departments, a helipad, surgery center, diagnostic imaging, laboratory services, and physician offices.

Memorial Hospital, part of the HCA (NYSE: HCA) system and HCA of West Florida, broke ground on the second phase of a multi-phase expansion and renovation project. The project includes adding two new operating rooms, each about 652 square feet, that can accommodate complex surgical cases such as orthopedics and spine, and the hospital's expanding robotic surgery program. Memorial will have nine operational ORs when the project is complete. The hospital also is converting most of its semi-private rooms to private rooms.

Brandon Regional, also an HCA hospital, recently completed the first phase of a $60 million multi-phase ER expansion, more than doubling the number of rooms in its ER and raising its bed count from 35 to 76. The expansion includes areas for express care, pediatrics and behavioral health, and a new patient entrance on Oakfield Drive. Future phases include centrally located imaging services and a new pediatric ER with 16 rooms and a dedicated entrance.