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Success Stories | Drumright Municipal Hospital

Drumright Municipal Hospital, Drumright, Oklahoma

DrumrightThe 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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