Informational Meeting on Agreement Between Memorial Medical Center and Marshfield Clinic Health System, Part 3
Friday, March 16th, 2018 -- 11:39 AM
-Memorial Medical Center held another informal meeting Tuesday afternoon to provide more information on their recent deal with Marshfield Clinic Health System.Ryan Neville, CEO and President of MMC, explained the options they were presented when the USDA Loan amount was reduced.
"This is not uncommon in a lot of financial loan programs where it takes years to do. Things do change in the market. So, we had two options here. One, we identify additional revenue starting in 2020 that would help us get back to $40 million. Or, we shrink the building down to $33 million. We really didn't want to shrink the building. Everything in our building is important to us that we had planned. And if we had to shrink the building, we would have to shrink the program and if we shrink programs, we would loose revenue. So, we went back up to the $40 million. How do we get back up to $40 million? And the analyst said if you can make $650,000 more in net revenue starting in 2020, you can get back up to $40 million. So, we said lets figure that out."
Coming up on Monday, Ryan will explain the initial steps they took to try and get back to the original amount they had planned on for their new facility.
In Case You Missed It:
Part 1: cwbradio.com/news/index.php?p=news&fn_incl=1&fn_mode=fullnews&fn_id=20866
Part 2: http://cwbradio.com/news/?fn_mode=fullnews&fn_id=20877
Feel free to contact us with questions and/or comments.