Primary Care Development Corporation $2M Refinancing Positions Fairview Community
Health Center for Expansion
Bowling Green, KY/New York, NY, (December 4, 2014) – Fairview Community Health Center, a Federally Qualified Health Center based in Bowling Green, Kentucky, is preparing for the future with a $2 million loan from the Primary Care Development Corporation (PCDC) to refinance a $1.8 million balloon payment.
“We are bursting at the seams. Through this refinancing, Fairview avoids a major balloon payment and can focus on growth, collaborating with regional health care partners to ensure that every family has access to quality primary care,” said Chris Keyser, Executive Director of Fairview Community Health Center. “We are thrilled that PCDC has partnered with us to improve our long term financial position, and look forward to working with them as we explore future growth opportunities.”
A critical source of primary care, Fairview is the only community health center serving low income residents of Warren, Endmonson, and Butler Counties in southwest Kentucky. Medicaid expansion has spurred 25% growth in patient visits over the last three years, and Medicaid enrollees now make up 70% of Fairview’s 10, 000 patients.
“Fairview Community Health Center has been a life-saver for me,” said Paula Evans, a Fairview patient and Secretary of its Board of Directors. “And now Fairview wants to grow to be able to help more people. The investment that we can get will help us to reach our goals of reaching out to people and caring for their needs in every way possible.”
“A health center’s financial sustainability is critical to its ability to expand to meet the health care needs of low-income communities,” said Anne Dyjak, Managing Director of PCDC Capital Investment. “We are delighted to provide solutions that help strengthen Fairview, and we look forward to working with this critical health center as it embarks on future growth.”
Fairview currently operates out of three locations in Bowling Green. To serve more patients, Fairview is planning to expand its clinical services at its main site and is considering the development of satellites to improve primary care access for residents who are distant from Bowling Green.
“Fairview plays a vital role in ensuring access to quality primary care for a wide spectrum of patient populations which translates into reducing unnecessary hospital admissions and improving the overall health of our community,” said Wade Stone, Executive Vice President of The Medical Center in Bowling Green. “The Medical Center is proud to call Fairview Community Health Center a valued partner in our mission to care for patients and improve quality of life.”
“The Kentucky Primary Care Association welcomes PCDC’s initiatives to help Fairview meet its mission of serving the medically underserved of Warren and surrounding counties, and we look forward to working with PCDC in the future,” said Joseph Smith, CEO of the Kentucky Primary Care Association, the membership organization for health centers across the state.
About Fairview Community Health Center
Fairview Community Health Center has provided medical services to our current target population as a 330 funded organization since 2001. In 2013 alone Fairview provided care for 10,555 unduplicated patients. Fairview has a dedicated staff with extensive experience in the full range of primary care services, including pediatrics and prenatal services. Fairview is recognized for its experience providing culturally competent, financially accessible services to the most vulnerable populations in the communities it serves.