Thought Leadership
A Look Back to Focus Forward
January 16, 2025
As we close the chapter on 2024 and usher in the promise of a New Year, it’s a great time for us here at Stroudwater Capital Partners (SCP) to reflect on the twists and turns that marked the past year, and to look ahead with optimism to 2025.
In a year that saw interest rates maintaining levels higher than we have seen in recent history, we witnessed an apparent deferral in capital investments due to the perceived higher costs, despite an ever-increasing need. However, as the Federal Reserve made moves to lower the interest rates, we started to see a gentle reprieve. Encouragingly, construction cost inflation remained manageable, with only a 0.5% increase in 2024.
As we reflect on 2024, we are humbled by and proud of the successes of our clients. The determined resolve of these Critical Access Hospitals, their unwavering commitment to their communities, and our privilege to support their visions were by far the biggest highlights of our year.
Towner County Medical Center opened its new critical access hospital (CAH) and long-term care center ahead of schedule, financed by USDA Direct and Guaranteed Loans, as well as state loan funds. Punxsutawney Medical Center and Community Memorial Hospital both received USDA Direct Loan commitments, successfully starting construction on their respective expansion and renovation projects. Meanwhile, Mountainview Medical Center was greenlit by USDA Direct Loans to fund its new CAH, and Sun Life Family Health Center and Wray Community Hospital both commenced construction on their significant projects.
All these combined projects, over $250M in total, have impacted more than 375,000 lives across rural America. For SCP, that’s a measure of success that makes our work so rewarding.
Throughout 2024, we maintained our commitment to thought leadership. SCP continued its productive partnership with the Rural Health Capital Council, aiming to increase access to financing options on a national scale, identified opportunities for increased utilization of New Markets Tax Credits in rural health projects, and partnered with NRHA for several educational endeavors.
As we turn our gaze to the future, we’re filled with optimism for 2025. Brian Haapala, SCP CEO anticipates the conversation around the barriers to accessing to find its way to the forefront of conversations. Our Relationship Office Macey Spears would like to see construction inflation return to a normalized level that offers predictability, and our Project Administrator Jolene Robichaud hopes that 2025 sees a year when Critical Access Hospitals who are unsure of how to find a path forward, gain access to the resources they need to begin their journey.
As always, we remain committed to our partners, our clients, and to the betterment of healthcare in rural America. Here’s to an exceptional 2025 for all stakeholders in this remarkable journey.