Local hospital needed funding in order to purchase and install software system required by larger healthcare system that was acquiring the facility.
68.9% of people served are low-income persons and 91% of jobs retained are quality. The market served has a slightly declining population of approximately 135 thousand. It is also the second poorest county in the state of Pennsylvania. In addition, the Hospital represents the largest nongovernmental employer in the area making the borrower a vital part of the community both from a health and an economic perspective.
The Hospital became operationally and financially distressed in recent years as a result of a failed relationship with a local healthcare network along with the realities of operating an independent, rural hospital in the current healthcare industry. The borrower is developing a new relationship with a large healthcare network that is planned to stabilize and enhance the availability of healthcare services in the community and to promote system for services not otherwise available locally.