New Salem Regional outpatient facility ready for construction
A new Salem Regional outpatient facility is ready for construction.
The building will be located at Firestone Farms Town Center in Columbiana. The new facility will provide more convenient access to lower cost outpatient services and procedures that don't require a hospital stay.
"SRMC's Surgery and Outpatient Pavilion will provide more convenient access to lower cost outpatient services and procedures that don't require a hospital stay," said Anita Hackstedde, M.D. SRMC President/CEO. "At center stage will be an ambulatory surgery center including endoscopy, advanced medical imaging and infusion therapy services. The facility will also house separate suites for specialty care physician offices."
The facility will also house separate suites for specialty care physician offices.
The facility is a 'non-provider' surgical outpatient pavilion, meaning it will be lower cost to patients and insurers.
Salem Regional is asking Columbiana County about the possibility of refinancing bonds in order to pay for the project.
"These are going to be revenue bonds issued by the city for the benefit of the hospital and the bonds are payable from revenues from hospital facilities," said Amanda Gordon, Salem's Bond Counsel.
According to Salem Regional's Director of Marketing, Mike Santillo, going through Salem was the most cost effective and efficient route to refinance current bonds, as well as issue new ones.
The bonds will consist of $39 million to refinance the old bonds as well as $21 million toward the new project. The hospital will cover the rest of the project with its own funds, including the cost of the surgical center.
"The bond issuance includes refinancing of a previous 2013 bond issued through the city of Salem, as well as the issuance of a new bond for the Columbiana project," Hackstedde added. "Going through Salem was the most cost-effective and efficient route to refinance the current bonds along with issuing the new bonds."
"The other part that needs to be done to be able to complete the process is to pass an authorizing ordinance to authorize the issuance of the bonds," Gordon added. A special meeting will take place later this month for the passage.
"SRMC has had a presence in the city of Columbiana since the early 2000s, including our current location in Firestone Farms, and we've continued to invest in this location as well as other regions within our service area, such as Lisbon and Damascus, to improve access to high quality healthcare for our patients and community," Hackstedde added.
The hospital broke ground on the project. Construction should be completed by spring of 2023.