MHCC closes Summit property purchase in Casper, plans ED
Memorial Hospital of Converse County (MHCC), through its Casper subsidiary Summit Healthcare, finalized the purchase of the property housing its surgical center on Friday morning, according to the Douglas Budget. The deal ends a long search for financing and gives MHCC ownership of both the operations and the building and grounds.
Summit took out a $29.4 million loan from Hilltop Bank at 6% interest over 20 years, said MHCC Board of Trustees President Bob Kayser. Payments are roughly equal to the prior lease costs. Kayser said the loan is well-secured and both parties are happy.
The purchase enables MHCC to expand services and build an emergency department in east Casper, which would compete directly with Banner Wyoming Medical Center. CEO Matt Dammeyer said the ED improves access for existing patients and offers new options. Kayser predicted the ED will open in the next two to three weeks.
MHCC closed the deal after a profitable year, with Summit contributing to the financial security of the Douglas hospital, which posted a record net profit for its fiscal year.