Two months ago, the Newman Regional Health Board of Trustees began openly discussing a possible $50 million capital campaign.
Chief Executive Officer Cathy Pimple says conversations continue behind the scenes.
The proposed $50 million “Building On” campaign hasn’t officially been approved and potential enhancements haven’t been set, but Pimple has said it would lead to improved patient care, technology and medical programs over a 3-to-5-year period. A long-discussed new patient tower above the current emergency department location could be included. Should this concept become reality, Pimple says it’s imperative the hospital be in a good financial position as the discussions move forward.
Pimple says the hospital has engaged an underwriter to ensure the debt service coverage ratio “in a super safe place.”
The public discussion in November followed research and donor interviews by a consulting firm, Kinetic, that took place for much of last year. The study results indicated the overall goal, of which around $40 million would be the result of private donations, is lofty but attainable. Pimple would not confirm whether a quiet fundraising campaign is already underway as discussions continue, but she says much more could come out about the Building On campaign over the next two months.
