Success Stories |
Drumright Municipal Hospital
Drumright Municipal Hospital, Drumright, Oklahoma
original hospital in Drumright was built over 40 years ago with
Hill-Burton funds. In the mid 1990’s, the board had leased
the hospital to a large, urban hospital system, which then closed
the hospital in 2001, in a large part due to the physical condition
of the old hospital.
The community leaders subsequently established a Municipal Hospital
Authority to either renovate the old facility and reopen, or build
a new facility. They retained one of HCR’s Directors in March
2002. We studied the project, developed the costs and benefits of
reopening the old facility versus building a new facility, and then
recommended they pursue building a new facility.
The board then approved the plan, and we then assisted in assembling
the project team, including the architects, contractors, feasibility
consultants, etc. and finally, recommending the actual course of
action to secure financing. We assisted the hospital in completing
the various applications, participated in the HUD site visit, which
led to the HUD section 242-loan guarantee, and then placed the financing
with PNC Capital.
Construction started for this $8.5 million, 36,000 square foot Critical Access Hospital
in January 2004 and began operations in January 2005.
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