Cabot Oil & Gas has stepped up with a $1M donation to EMHS for construction of Phase II its new facility, just west of Montrose. The natural gas producer also plans to match community donations up to $1M as part of its $3M total fundraising goal
BY STACI WILSON
With earthwork underway for Phase I of the new Endless Mountains Health Systems facility, just east of Montrose, a natural gas producing company has stepped up in an effort to raise funds to complete the next phase of the project.
Cabot Oil & Gas Corporation announced Tuesday, a pledge of $1 million for the project.
The million dollar Cabot pledge kick off a
community match fundraising campaign that could raise a total of $3 million for the hospital project.
Cabot plans to donate its leadership gift on March 23 and will match all other donations to the new hospital up to an additional $1,000,000.
“Our company is gratified to be a leader in this project and to be advancing superior health care to our neighbors in the Northern Tier, said Dan O. Dinges, Cabot Chairman, President and Chief Executive Officer.. “Similar to jobs and education, available health care helps define a community,”
DAN DINGES
Dinges said, “We want to make sure we are investing in all three. Cabot sees this new Match Fund as an excellent investment in our community. We plan to be a major partner on this new hospital project all the way through to completion.”
Cabot spokesman George Stark said, “We wanted to build upon the momentum of the Jan. 20 groundbreaking.”
Stark said Cabot will also be asking its contractors to get involved with community match investment. “So when the day comes, it’s $3 million,” Stark said.
The Cabot/EMHS Community Match Fund is structured to leverage funds from other corporations, foundations and the community at large.
The new fund will be administered by The Community Foundation of theEndlessMountains.
Foundation Chairman Earle Wootton said community members will be able to send their pledges, identified for the Cabot/EMHS Community Match Fund, to the Foundation which will collect the hospital pledge funds.
Wootton said all of the money donated would go to the hospital as part of the $1 million community match leg of the fundraising campaign.
The $1M pledge from Cabot represents the largest single private donation to the Endless Mountains Health Systems project to date.
EMHS Chief Executive Officer Rex Catlin said the commitment from Cabot will allow the hospital to go to bid on Phase II “which is the clinic building.”
Loren Stone, EMHS’ Chief Financial Officer, said the estimated cost of constructing the clinic is about $5.6.
Catlin said, “The goal is to have the hospital and clinic open at the same time.”
Stark said Cabot recognizes the importance of the local, critical access medical facility in theSusquehannaCountyarea.
“This is where we live and work,” Stark said.
The new EMHS facility will have access to a multi-specialty physician suite, a six-bay emergency department with an airborne infection isolation room, cardiac/trauma room and a helipad. There will be an expanded operating room, additional exam rooms and increased number of beds.
“A project of this magnitude requires strong public-private partnership to garner the necessary resources to make it all possible, said Catlin.” “We are very fortunate to have Cabot so generously providing the leadership and the resources to encourage private investment in our new hospital. Now our medical staff and employees will be in a facility that mirrors their high quality. We are grateful to Cabot for moving us forward in such a significant way.”
Cabot is planning am official launch event for The Cabot/EMHS Community Match Fund on March 23, at The Community Foundation for theEndlessMountains,Lake Ave., Montrose.
Hospital leaders, elected officials, business and community leaders and regional philanthropists will meet to discuss specific details of the new hospital project, the $1,000,000 Cabot leadership gift and the overall timeline for the community match campaign.
EndlessMountainsHealth Systems is a not-for-profit corporation committed to the operation and development of a health system which provides optimum care within the scope of its abilities. The key elements in the EMHS process are quality, service, safety, cost, flexibility and access. EMHS is a licensed 21-bed acute care hospital, short procedure unit, emergency services, and various ancillary services typically associated with a medical facility. EMHS maintain physician offices, including various specialties on-site and have established a vast referral source for additional off-site specialties.
Cabot Oil & Gas Corporation, headquartered in Houston, Texasis a leading independent natural gas producer with its entire resource base located in the continental United States. For additional information, visit the Company’s Internet homepage at www.cabotog.com. For information specific to the Susquehanna region, visit www.cabotog.com/comm_susquehanna.html
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