In Mingo County, West Virginia, a remarkable transformation is unfolding as Williamson Memorial reopens the community hospital facilities, thanks in part to a crucial $2 million investment from Partner Community Capital (PCAP). This funding is pivotal in the hospital’s resurgence, enabling it to cover initial operating expenses, hire employees, and launch essential lab and radiology services.
The $2 million investment from PCAP was made possible through the West Virginia Capital Access Program (WVCAP) and allowed Williamston Memorial to begin hiring and launch critical services in the area.
The loan was a partnership between PCAP and Invest Appalachia, with half of the loan amount coming from the Invest Appalachia Fund. WVCAP was created through the federal State Small Business Credit Initiative, which was a component of the American Rescue Plan Act of 2021.
“This funding has enabled the hospital to cover initial operating expenses, ensuring a smooth transition to full operations. Additionally, it has facilitated the hiring of dedicated staff and the launch of lab and radiology services, essential components of comprehensive healthcare,” said Justin White, Director of Portfolio Management.
PCAP’s investment is projected to support 65-70 quality jobs to the area, many of which were lost when the previous owners shut down the hospital in 2019.
“This job creation is crucial for Mingo County, which faces persistent poverty (21.3% poverty rate), a declining population (8.1% loss rate), and is classified as a distressed county by the Appalachian Regional Commission,” White said.
In the 1920’s, Williamson’s first hospital thrived alongside the coal industry, which dominated the local economy. Coal companies provided well-paying jobs with excellent health insurance benefits, covering 100% of healthcare premiums for employees. However, the decline of the coal industry over the last decade has led to significant economic challenges for the region and its healthcare facilities.
“Opening a hospital in 2024, we are truly a unicorn. Over the last five years we’ve seen a lot of hospitals across the nation closing or merging into joint ventures. So, this is pretty exciting to be a part of the history of opening a new hospital at this time. It just doesn’t happen anymore,” said Tim Hatfield, Chief Executive Officer of Williamson Memorial.
Hatfield brings extensive experience in rural health to the hospital. He said the plan is to open in phases, with the first being ancillary services including laboratory and X-ray.
Williamson Memorial’s collaboration with Williamson Health & Wellness Center, the local federally qualified health center and PCAP may set a precedent for how rural hospitals can thrive in challenging economic environments. The integrated approach leverages clinic and hospital operations in one location with a shared staffing model creates a cost-efficient model that could prevent hospital closures. The project is positioned to become a beacon of hope and resilience in rural healthcare.
More information about Partner Community Capital’s lending programs can be found here.
