Brownwood, TX (2021)

Hendrick Medical Center – Brownwood

District:

Finances the reimbursement of acquisition costs and additional improvements of the Hendrick Medical Center Brownwood, a 253,500 sq. ft., 188-bed acute care facility. T

Investment

  • NMTC Amount: $19,799,000
  • Total Project Cost: $20,300,000

IMPACT

  • 380 FTE jobs
  • 24,000 patients served

Investor

Project Description

The purpose of the project is to improve the quality and accessibility of healthcare services for a hospital in Brownwood, Texas serving a large portion of rural Texas. QLICI proceeds were used for working capital and equipment to support the nonprofit’s operations. The Brownwood hospital is the only acute care facility and level IV trauma unit currently serving the residents of Brownwood and the surrounding communities. The hospital has primary and secondary service coverage in Brown, Comanche, Mills, San Saba, McCulloch, Coleman, Callahan, and Eastland Counties.

Prior to acquisition by Hendrick Medical Center in October 2020, the facility had undergone minimal technological, equipment, or material upgrades since its construction in 1969 and was in significant jeopardy of closure. The prior owners, a for-profit publicly traded company, had realized significant financial hardship over the recent years leading to even greater building disinvestment, which degraded services offered and capacity to treat patients efficiently and effectively. The acquisition by Hendrick saved the Brownwood hospital and sustained services in the community.

MAP

Address: 1501 Burnett Road, Brownwood, TX 76801

Census Tract: 48049951100

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