Perry, OK (2023)

Perry Memorial Hospital

Investment

  • NMTC Amount: $7,000,000
  • Total Project Cost: $13,000,000

IMPACT

  • 106 FTE jobs
  • 50,000 sq. ft. of real estate

CDEs

Investor

Project Description

Perry Memorial Hospital, a 50,000-square-foot healthcare facility built in 1950, faced financial challenges due to the rising costs of providing essential healthcare services. In 2019, Stillwater Medical Center took over management under a four-year contract, ensuring operational efficiency and financial stability. In 2023, the hospital obtained a Rural Emergency Hospital designation, boosting reimbursement rates for at-risk rural hospitals. The project required nearly $13 million in renovations coming from diverse funding streams. The Perry community rallied behind the renovation plan, with 80% voter approval for a 10-year, 1 percent sales tax. The City of Perry committed to funding early project-related costs. The Malzahn Family Affiliated Fund, administered by the Oklahoma City Community Foundation made the largest investment to date by awarding a $5 million grant toward the project. MetaFund’s $7 million NMTC, facilitated through BancFirst, met the remaining financial gap needed. The primary focus of the renovation is to expand the emergency department, enabling more timely critical care locally. Thousands of patients will benefit from local care, preventing the need for emergency transportation. Without these changes, the hospital’s closure would deprive the Perry community of vital healthcare services.

MAP

Address: 501 N 14th St, Perry, OK 73077

Census Tract: 40103957000

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