Highland-Clarksburg Hospital secures financing for renovations - WBOY - Clarksburg, Morgantown: News, Sports, Weather

Highland-Clarksburg Hospital secures financing for renovations

Posted: Updated:

Highland-Clarksburg Hospital officials announced Jan. 18 they had closed on a $34.8 million construction loan syndicated through Huntington National Bank for necessary renovation costs.

The newly formed Highland-Clarksburg Hospital Inc. was approved to operate a 150-bed behavioral health facility in the former United Hospital Center. More than 200 construction jobs will be created by the renovation project, according to a news release issued jointly by the hospital and Huntington National Bank. Once fully operating, Highland plans to employ 294 staff members.

"With the funds in hand, we are finally prepared to begin the work," Mike Casdorph, director of facility development and construction for Highland, said in the news release. "Renovations and construction started on January 15, 2013."

Huntington and Highland-Clarksburg Hospital worked with USDA Rural Development, which is providing the hospital with a $21 million loan through its Community Facilities Program in addition to $13.8 million in permanent financing provided by Huntington. Highland has secured the firm of Associated Architects for the design plan and RC General Contractors as the construction manager.

"Highland is profoundly dedicated to individual, family and community well-being," said Andy Paterno, Huntington Bank's West Virginia regional president, said in the news release. "Huntington shares Highland's commitment to West Virginia and to helping finance a project that will bring jobs to the area. This is a great example of a public and private partnership between state, federal programs and local banks."

Jim Dissen, chairman and CEO of Highland Hospital, said, "The unwavering support from City of Clarksburg officials, Harrison County officials and Governor Tomblin's office has been remarkably steadfast. Huntington is helping us lead the way with a financial package that merges federal funding with a sophisticated understanding of our approach to meeting the community's healthcare needs and the vital difference we will be able to make through this expansion."

United Hospital Center donated the facility to Highland in December of 2010. On Dec. 1, 2011, the West Virginia Health Care Authority approved Highland's certificate of need.

Huntington expanded its specialized healthcare banking services in February of last year with the appointment of Dan Storer as managing director. Huntington for Healthcare delivers commercial, treasury management, wealth management, business banking, insurance and equipment finance services to key health care industry subsectors. These include hospitals, medical and dental groups, senior living and long-term care facilities, home health care, medical device manufacturers, specialty pharmaceuticals and other niche health care services.

Powered by Frankly