Petra Integrated Construction Strategies Welcomes Craig Beam as President

La Palma, Calif. – Petra Integrated Construction Strategies (Petra ICS), the capital planning and construction management subsidiary of The Innovation Institute, announced today that it has selected Craig Beam as its new president. Beam will join Petra ICS at the end of November, and based at Petra ICS headquarters in La Palma, Calif.

Craig Beam, president, Petra ICS

“We chose Craig because he has a great track record as a leader with a vision and experience to guide our organization to new successes, both inside and outside our member owner network,” said Innovation Institute President and Chief Executive Officer, Joe Randolph.

For over 40 years, Beam has been a thought leader in the health care real estate, planning and construction industries. He has overseen the development and management of a broad range of real estate with a focus on health care and institutional projects. His work includes the development of hospital, medical office and ambulatory facilities. In addition to his project experience, he has led numerous strategic planning, portfolio restructuring, and merger and acquisition transactions for major health systems.

Beam began his career in real estate in 1977 as chief financial officer of Concordia Development, a real estate development company based in Southern California. In 1983, he took over as president of the family firm, Beam & Associates, with overall responsibility for the consulting, development, leasing and brokerage divisions. While at Beam & Associates, he developed a client base of major health systems, including St. Joseph Health, Ascension Health and Dignity Health.

In 1998, he merged the company to the Midwestern health care firm, Hammes Company, to create the largest health care program and project management firm in the United States.  Beam is a licensed California real estate broker and holds the professional designation of Counselor of Real Estate. In 2007, Beam became the managing director for health care services for CBRE, the largest real estate firm in the world.

In addition to his real estate activities, Beam has served on numerous boards. These include the Advisory Board to the Director of the National Institutes of Health, as well as the boards of UniHealth, Pacificare and Martin Luther Hospital. He is past chairman of the board of the American Heart Association and is a former CEO and treasurer of the World Heart Federation.

About Petra Integrated Construction Strategies 

Petra Integrated Construction Strategies is a subsidiary of The Innovation Institute, an organization fueled to cultivate innovative solutions to transform health care by doing more, with less, for more people. Through a diverse team of professionals, Petra creates safe environments and holistic solutions, which enhance the way care is delivered and the way people live. Services include program and construction management; capital planning and risk management; facility master planning and pre-design; facility infrastructure; organizational resource planning; and community engagement. For more information, please visit

About The Innovation Institute

The Innovation Institute is an independent, for-profit LLC structured to cultivate innovative solutions to transform healthcare delivery. The Innovation Institute is owned by non-profit health systems. This collaborative taps into physicians, employees, and industry business partners to incubate and commercialize new medical products and ideas. Comprised of three distinct elements – an innovation lab, an investment fund, and a shared services group (Enterprise Development Group), The Institute strives to “do more, with less, for more people.” For more information, visit