Baldwin (Wis.) Area Medical Center's financial advisor obtained $28.5 million in direct funding from the United States Department of Agriculture Community Facility for a replacement hospital.
Three reasons have been outlined to justify a replacement facility:
1. BAMC's existing facility is outdated and lacks the amenities required to meet the needs of the changing patient base.
2. The current hospital is not very accessible to surrounding communities and cannot expand in size due to being land-locked.
3. As the community grows in size and becomes younger in age, services such as integrated outpatient services are in higher demand.
The loan secured by Columbus, Ohio-based Lancaster Pollard for BAMC has a low-fixed interest rate and a term and amortization of 30 years.
Construction on the replacement facility began Oct. 27.