Kuster Joins VRH Officials to Announce $19.4 M Rural Development Loan
Savings May be Used for Residential Treatment Programs
Today, Congresswoman Annie Kuster joined Peter Wright, President and CEO of Valley Regional Hospital, and other senior hospital and U.S. Department of Agriculture officials to announce that the U.S. Department of Agriculture (USDA) Rural Development has approved a $19.4 million Community Facilities Loan to Valley Regional Hospital in Claremont. This loan will provide the hospital with significant savings and assist the parent company, Valley Regional Health Care, in acquiring certain hospital real estate assets, which will be leased back to Valley Regional Hospital. Additionally, the hospital is exploring using the savings to develop residential intensive treatment programs for people suffering from substance use disorders. As one of only 26 hospitals in New Hampshire, and one of only 13 Critical Access Hospitals, Valley Regional Hospital has been in operation for nearly 125 years and provides a full range of emergency, rehabilitative and surgical services to patients.
“USDA Rural Development funding has been a critical resource for rural communities across New Hampshire, and I applaud the $19.4 million USDA loan to Valley Regional Hospital that will ensure that the hospital can continue to provide high-quality health care to patients in Sullivan County,” said Kuster. “Access to rural health care is a challenge that faces many Granite Staters, and the funding provided through this loan will allow Valley Regional Hospital to restructure hospital debt and maintain critical health services. I’m encouraged that Valley Regional Hospital intends to use some of the loan to expand access to treatment for substance use disorder, which is critical as we continue to address the opioid epidemic.”
"We are thrilled to be a part of this incredible program, which will be instrumental in the sustainability of Valley Regional Hospital,” said Wright. “We greatly appreciate Congresswoman Kuster and Senators Shaheen and Hassan's strong advocacy, which played a big role in making this happen...[T]his award will allow us to strengthen our hospital, by investing in new programs, while continuing to provide the right care..."