MU Health Care, Nueterra buys Callaway Community Hospital
FULTON - More Fulton residents will now have the opportunity to get health care services done at the Callaway Community Hospital.
On Thursday, the University of Missouri Health Care and Nueterra, the largest privately-held organization in the United States specializing in developing equity partnerships with health systems, have purchased the Callaway Community Hospital. The partnership will provide funding for improvement projects in the 37-bed hospital.
"By us stepping in and keeping the facility viable, that improves costs and access to services," Mitch Wasden, MU Health Care CEO and COO, said.
Wasden said renovations planned over the next several months will improve its efficiency through new technologies and service lines. Some changes will include adding more general surgery rooms for specialties like orthopedics. Under the new MU Health Care and Nueterra partnership, the hospital will continue to provide short-term medical treatment and outpatient services through residency programs.
The hospital will be operated by Nueterra, which will own approximately 65%; MU Health Care will own approximately 35%. MU Health Care is paying $1.15 million in cash from operating reserves for its share of the investment. In addition, the University of Missouri will provide debt guarantees of approximately $2.75 million to support funding for capital improvements. MU Health Care will collaborate on running the facilities and making sure it is bringing and keeping services in the city of Fulton
"We will be investing in the facility so that people that get their services there today can continue to. But as we make investments in the facilities, the hope is that we can add additional services. So I think you have people today who maybe traveling to other cities for their health care, and we would like to keep them in Fulton, so they don't have to travel so far," Wasden said.
For 40 years, the Callaway Community Hospital trained MU residency medical students.