Sidney, Nebraska, Sep 24, 2012 -- The United States Department of Agriculture (USDA) Rural Development has awarded $20 million to Cheyenne County Hospital Association, Inc. (Sidney Regional Medical Center (SRMC)) under their Community Facilities Direct Loan Program. The funds, leveraged with a $20 million Rural Development Guarantee with AgStar and nearly $9.8 million from the hospital will be used for a complete hospital replacement on a new site, to maintain the delivery of quality healthcare.
“There are many steps to a project of this size and the USDA Rural Development approval for financial support is a major step toward ensuring SRMC’s goal to build a new state of the art facility for our community. This project will build upon the quality of care we provide by offering the best possible environment for patient care,” said CEO Jason Petik, Sidney Regional Medical Center.
The $40 million in direct and guarantee loans make the new Sidney hospital the largest project that USDA Rural Development has funded in Nebraska, according to Maxine Moul, Nebraska State Director. The $32 million in funding for the Community Hospital in McCook, which had its grand opening on July 1, was the largest previous project. USDA Rural Development has supported the new construction, expansion and equipment needs of 20 critical access hospitals in the state since fiscal year 2008.
“USDA Rural Development is excited to assist the hospital as they undertake this new venture to enhance the Sidney Regional Medical Center. The new facility will continue to provide excellent healthcare to Sidney and the surrounding areas,” said Area Specialist Natalie Furrow, USDA Rural Development.
“AgStar Financial Services is proud and excited to partner with USDA Rural Development in funding the new Sidney Regional Medical Center. This facility will continue the strong level of care provided by current staff, as well as provide additional health care options and services in a state-of-the-art facility to help ensure the long-term health and prosperity of the Sidney community. Besides a public/private partnership with USDA, the financing package is likely to include a collaboration of other Farm Credit System entities such as CoBank and Farm Credit Services of America, as well local financial institutions; creating a positive situation for all involved,” said Vice President Robert Madsen, AgStar Financial Services, ACA.
Sidney Regional Medical Center was established in 1954. The current hospital was originally built in 1955 and is surrounded by residential dwellings. The current location presents difficulty with access and with little room to expand, and new construction is difficult to carry out. The hospital itself needs updates to energy efficiency, function, and to be able to meet today’s changing health care codes.
The new facility will be located on a 20 acre site close to the current hospital and with better access for all incoming and outgoing traffic. The one story hospital will occupy 76,800 square feet with the two story clinic and administrative building occupying approximately 42,000 square feet. The two structures will be joined by a one and a half story lobby and public area. The hospital will feature 25 acute private beds, and two labor-delivery-recovery rooms. There will be three surgical suites with space for a fourth; eight post surgery, outpatient recovery rooms, and an endoscopy procedure suite. The physicians’ clinic will have 24 exam rooms with the specialty clinic offering 12 exam rooms. Many other amenities will be offered.
For the last 60 years, Sidney Regional Medical Center’s focus has been to provide high-quality, compassionate care and with this new medical facility they will be able to continue in that mission.
USDA funding was provided through the USDA Rural Development Community Facility Direct and Guaranteed Loan programs. For additional information contact Natalie Furrow at Natalie.email@example.com; or phone (308) 534-2360 ext. 1129. Visit http://www.rurdev.usda.gov/NEHome.html.