$114M Texas replacement hospital will be twice as big, require no financing

Reeves County Hospital in Pecos, Texas, is planning a $114 million replacement facility that will double its size, the Odessa American reported May 3. And will be paid for in cash.

The facility, scheduled to open in June, will be two stories and 140,000 square feet. The current facility, about 45 years old, is about 87,000 square feet.

The hospital is being paid for through oil and gas proceeds, sales tax and limited spending, according to the report.

"To be able to build a brand new, state-of-the-art facility is probably at the top of any goal I would have ever had," Reeves County Hospital CEO Brenda McKinney told the Odessa American. "Because not only are we building a new, state-of-the-art facility with new equipment, new furnishings. It will all be paid for  —  no bonds; nothing." 

Ms. McKinney, a Pecos native, is the hospital's former CFO and formerly worked in banking.

She said the hospital was "very frugal" with the monies coming in from the oil and gas proceeds and the entire project will "be paid for in cash."

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