Administrators from The Memorial Hospital in Craig expect to verify today the findings of an initial financial analysis indicating TMH could borrow $20 million for a proposed new facility.
In December 2006, a representative from Quorum Health Services told the TMH board of trustees that net profits in 2005, an estimated 2006 surplus and minimal debt made the hospital an attractive choice to lenders. Today, hospital administrators are expected to discuss the loan outlook with its contracted financial analyst during a conference call.
The analyst' job is to either confirm the QHR opinion or discern how much lenders would loan the hospital, chief executive officer George Rohrich said. The analyst also would be pledged with finding the best loan opportunities on the open market for TMH, he said.
TMH is seeking to build a new facility on 15 acres of land west of Shadow Mountain Village.
The conference call should take place before tonight's board meeting, scheduled for 7 p.m. inside the Platinum Conference Room at TMH. Rohrich said he would then report the findings to the board either during a building committee report or the CEO report, both of which are toward the end of the agenda.
"I expect (the analyst) to give a preliminary answer that would be followed up in writing a few days later," Rohrich said.
Rohrich said scheduling conflicts have kept the hospital and the analyst from having a more formal discussion. Nonetheless, Rohrich said he doesn't expect the analysts' response to be that much different from the preliminary estimate released in December.
"I think he'll confirm what's been said," Rohrich said. "I'm pretty confident that's going to be the case."
Joshua Roberts can be reached at 824-7031, ext. 210, or firstname.lastname@example.org.
The Memorial Hospital
Board of Trustees meeting
Wednesday, Jan. 31
Platinum Conference Room
6 p.m. Work session to review and discuss 2007 goals and objectives
7 p.m. Regular meeting
Call to order
Executive session to discuss negotiations
Approval of meeting minutes
-- Minutes of November 29, 2006 board meeting
-- Minutes of December 27, 2006 board meeting
Opportunity for public to address board
-- Board member terms
-- Board member election of 2007 officers
-- Board member committee appointments
-- Board of trustee meeting time, place and designation of location notices
Board action items:
-- Recommendation for approval of medical staff privileges
-- Recommendation for approval of capital defined policy
-- Recommendation for approval of audit and cost report preparation by BDK for year ending December 31, 2006 in amount of $38,000
-- Approval of 2007 goals and objectives
Medical staff report by Dr. Catherine Crowe, acting chief of staff
-- Minutes of medical staff meeting for Jan. 11
Joint conference committee report by committee chairman Melton Sullivan
-- Minutes of joint conference committee meeting for Jan. 23
-- Review of financial results for December 2006
-- Corrie Scott, board liaison, will report on Jan. 22 meeting.
Building committee report by committee chairman Ronald Danner
-- Status report
-- Chief executive officer George Rohrich
-- Service excellence officer Pam Thompson
-- Chief quality officer Beka Warren
-- Chief clinical officer Bob Lindberg
-- Chief financial officer Derek Jones
-- Quarterly safety report by Vic Updike
-- Minutes of Jan. 23 department managers meeting