July 11, 2008 - A special meeting of the Chillicothe City Council and the Hedrick Medical Center Hospital Board was held last night (Thursday) to hear from two companies competing for the necessary updates and improvements to the St. Luke’s facility. Healthcare Capital Resources, Inc. and the Murray Company made presentations to the board and audience about what each of them had to offer the city of Chillicothe and most importantly, Hedrick Medical Center.

Jim Sneed and Larry Arthur with Healthcare Capital Resources began the discussion. One of the specific tasks for HCR is to offer assistance with the selection of other qualified team members that are both experts with rural hospital renovations and additions and total replacements, with an emphasis on Missouri expertise. This would include architects, CM’s, accountants, attorneys, equipment consultants and others that may be required for a successful project. The company would also assist with development of and presentation of the most appropriate financial, statistical, community and other information to potential lenders that would best enable them to evaluate the project and determine their financial parameters in submitting a financing proposal. It is anticipated, according to HCR, that the project would be financed primarily by tax exempt revenue bonds, without a St. Luke’s guarantee, but with a term lease between the city of Chillicothe and St. Luke’s.

Phillip Schultz of Murray Company stressed the importance of making the “right decisions right up front.” He also stated that they would work with the objectives of the hospital and plan what is in the best interest for the community after initial assessments.

The purpose behind the special meeting was simply to hear from the two companies. No decisions were made as to renovate or rebuild Hedrick Medical Center at this time.