Adena to Invest $70 million for Orthopedic and Robotics Center
Adena Health System President and CEO Jeff Graham today announced plans to construct a five-story Orthopedic and Robotics Center on the campus of Adena Regional Medical Center (ARMC), located in Chillicothe. The project, currently in the design phase, represents a $70-million investment in providing the south central and southern Ohio region with greater nearby access to orthopedic treatment and minimally-invasive surgical care.
“Since ARMC opened more than 45 years ago, we have grown our services as more patients across south central Ohio have entrusted us with their care,” said Graham. “In recent years, we have developed a great need for additional operating rooms and inpatient space to accommodate the new technology in robotic surgical procedures. The new center will meet the needs of our rapidly growing orthopedic service line and robotic surgery program, and will become a “destination center for care.” Our investment will also enable other specialties to grow as a result of this project.”
The current ARMC facility opened in January 1974. The hospital was constructed with six operating rooms, efficient for the needs of the time. The new center will include at least six operating rooms to meet the specific technological and space needs for current and future orthopedic and robot-assisted surgeries.
Patients will immediately notice a focus on hospitality and a concierge service atmosphere when they arrive at the new Ortho / Robotic Center, which will include a parking structure that will add approximately 300 new spaces. The aesthetics of the public areas will be something patients have not seen in the region before, and the center will be designed to provide a calming, positive experience for patients, visitors and staff.
Funding for the project will come from the sale of bonds. The Ross County Commissioners have agreed to facilitate bonds that will allow Adena to begin this project. Bonds will be sold to investors to support the cost of the project and to refinance some existing infrastructure debt at today’s low interest rates. Bond underwriter, Cain Brothers, will soon release a Preliminary Official Statement (POS) to notify potential investors that the bonds are available for purchase. Investor presentations will take place to answer any questions from potential bond buyers, then the bonds will be sold and the bond purchase documents closed. Completion is expected by July 1, 2019.
Construction is expected to begin later this year, with the new center opening in 2021.
