Newman Regional Health is moving forward with plans to purchase property that it has occupied for well over a decade now.
During their monthly meeting and following an executive session, the Newman Board of Trustees voted to approve a motion to take steps towards developing a real-estate agreement for the property at 1503 12th Street, which houses the Newman Medical Equipment storefront. According to Newman CEO Cathy Pimple, the acquisition would allow the hospital to expand the services currently offered in the storefront.
Pimple also noted that in the time that Newman has occupied the property, it has made notable investments in the space.
A timeline for the development of the real estate agreement and the purchase of the property has not been announced.
In other business Wednesday, trustees received the monthly financial report, which indicated a net loss for the month of May totaling more than $500,000, with Pimple saying the loss is largely attributed to lower in-patient revenues. The month’s loss brings the hospital’s year-to-date total to a loss of $1.3 million; however, Pimple says that will not be the case permanently.
Once the hospital receives its Medicaid reimbursement dollars, Pimple says the hospital will see a year-to-date net gain of $1.7 million. Pimple also says those dollars should be applied to the hospital at “some time in July.”
Separately Wednesday, the board also discussed the 2025 audit report, received the quality and compliance committee report and held two additional executive sessions for peer review and legal consultation matters. The Newman Board of Trustees will reconvene in July.
