Hillsboro hospital owners secure funding source for new facility

HMC/CAH Consolidated Inc., owner of Hillsboro Community Hospital, has secured a source of funding for the construction of a new hospital facility for Hillsboro, according to Mike Ryan, HCH chief executive officer.

Ryan said he had received an e-mail on Thursday (Jan. 28) from Larry Arthur, president and CEO of HMC/CAH, that the company had received a commitment letter from the Bank of Hays for the construction of the new facility.

?This is a very important step,? Ryan said. ?As I have often repeated, the financing freeze has been the primary hurdle we needed to clear for this project.

?With financing now assured, we can begin the USDA loan guarantee process,? he added. ?The USDA has been on board with us for several months, so we anticipate the application process taking no more than 60 to 90 days.?

Ryan projected groundbreaking as soon as April.

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