Mount Nittany Medical Center recently received a $5 million Infrastructure and Facilities Improvement Program (IFIP) grant from the Pennsylvania Department of Community and Economic Development to help offset the bonds for the East Wing expansion. The grant, to be paid out in $250,000 increments over the next 20 years, is one of the largest of the seven grants issued under the program and one of the few for healthcare in recent history.
Since its relocation to State College in 1972, the Medical Center has invested more than $143 million in facilities and equipment, borrowing little to finance these projects. The $38 million project was funded mostly by the sale of bonds. The Medical Center received an "A-" bond rating by both Standard & Poor (S&P) and Fitch ratings. This resonated with investors, benefiting the Medical Center with a lower interest rate and lower issuance costs. It also translated into real savings over the 35-year life of the bond.
In addition, the community responded significantly to The Foundation for Mount Nittany Medical Center’s recent campaign, "Commitment to Distinction: The Campaign for Mount Nittany Medical Center." The campaign, aimed at offsetting some of the cost for the expansion, recently exceeded its $12.5 million campaign goal.
The East Wing expansion added a 65,000-square-foot, three-story addition atop the existing East Wing with two medical/surgical floors and one intensive care floor. This expansion increased the bed count by 68 single-bed patient rooms;12 intensive care rooms and 56 acute care rooms. Single-bed patient rooms increase patient privacy and reduce the risk of nosocomial infections, enhancing the patient experience. The new rooms also create a better working environment for staff.
Preparation for the expansion began in November 2008, and the new patient rooms in the East Wing opened August 2.