Morgan Medical Center

Morgan Memorial Hospital’s (now Morgan Medical Center “MMC”– rebranded during construction in 2018) 25-bed critical access replacement facility will bring Morgan County, Georgia a brand-new hospital 74,500 square foot facility replacing its 57-year-old hospital, positively impacting healthcare delivery for its growing 18,000 population. Once completed in Q4 2018, the new facility will be located off U.S. Highway 441, 60 miles east of Atlanta remaining in the historic city of Madison….

These organizational improvements increased MMC’s debt capacity to a threshold to make a replacement project viable. Commencing on Stage II, InnoVative Capital with MMC proved to the county taxpayers the hospital’s firm financial standing through its financial turnaround to donate $2 million in fundraising and pass an annual $1 million uncompensated care subsidy. As the permanent lending source, InnoVative Capital chose USDA’s Community Facility Program Direct Loan as the appropriate financing structure for its flexible loan terms and low-fixed interest rate of 2.375% at the time of closing; with a construction bridge loan financed through the sale of tax-exempt notes which will be refinanced after constructing with the USDA permanent Direct Loan.