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ALTRU ANNOUNCES EXPANDED HOSPITAL PLAN, CONSTRUCTION ON-PACE TO RESUME IN OCTOBER

Altru announced expanded plans for its new hospital. With a budget set at $380 million, Altru’s new hospital project now includes a plan to build to seven floors, space for 226 licensed patient beds, a 16-bed observation unit and inclusion of boiler plant updates as part of the project scope.

“A lot has changed in healthcare over the past year. As we look ahead and now fully understand the impact of the unknown, we have expanded our plan to ensure we’re ready for what may come in the future,” expressed Dr. Steven Weiser, Altru’s President. “We remain deeply committed to providing world-class care to our region, the state-of-the art hospital will serve as a hub to continue our focus on that commitment.”

Additional key patient benefits incorporated into the new hospital will include private NICU and pre/post- operative rooms; state-of the-art operating rooms, including a dedicated trauma operating room; a trauma elevator for quick transport; and an overall improved aesthetic and wayfinding experience.

With 18% of the new hospital build already complete, Altru will resume construction on the new hospital in October of 2021. Until then, there is a focus on finalizing design, securing financing, gaining state approvals and getting contractors ready to be back on site.

“We are thrilled to share our new plans for an even better hospital than we first imagined,” said Dave Molmen, Altru’s Interim CEO. “The facility will serve our region for generations to come with the innovation, world-class care and calming environment our patients, their families and our staff deserve. The optimal rate environment for financing has provided an opportunity to restructure some of our debt and move forward with a budget that we are comfortable with to execute on this plan.”

Altru paused construction during the COVID-19 pandemic to prioritize operational resources on patient care and employee support. After reviewing the site, it has been determined that no re-work will be necessary due to the pause as the site was properly secured. Altru’s new hospital is set to open in 2024.

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