April 11, 2024
(ELMA, WA) – In late March this year, Summit Pacific Medical Center’s (SPMC) hospital expansion project received $2.5 million in federal funding, thanks to effective collaboration with federal lawmakers. The investment represents a significant milestone in Summit Pacific’s ongoing mission to improve healthcare services for the Grays Harbor community.
Summit Pacific’s Jennifer Brackeen, Director of Care Innovation, and Laura Cundiff, Grants Program Coordinator, led the federal funding application process in early 2023. With the support of Senator Maria Cantwell’s office, the funding was included in the federal 2024 funding package passed by the Senate on March 23rd.
The allocated funding is designated for the initial phase of the hospital expansion which began early this year. When the expansion is complete in Spring 2026, SPMC will have nearly doubled the current footprint with a 30,000-square-foot addition. Included will be a significant increase in bed capacity, an expanded Emergency Department, more areas for triage and patient holding, round-the-clock MRI services, and enhanced patient flow that will greatly improve patient experience.
CEO of Summit Pacific Medical Center, Josh Martin, commented, “We’re committed to delivering safe, equitable, and high-quality care to our community residents – and this expansion project truly underscores this objective. The infusion of federal funding is a significant financial boost that will help us enhance healthcare services for our growing community for years to come.”
In addition to the federal funding, SPMC has secured approximately $60 million in revenue bonds to support the expansion project. Leveraging revenue bonds offers the advantage of avoiding taxation within the local community while ensuring timely project execution and future financial flexibility. Moreover, potential bond rating upgrades in the future may facilitate debt refinancing at lower rates, further contributing to the hospital’s financial stability.
With this hospital expansion and its careful funding strategies, Summit Pacific Medical Center continues with its objective of providing exceptional healthcare services to the community.