Hospital Construction Is Shut Down

By: Jeff Allen Email
By: Jeff Allen Email

Construction on a new eastern Kentucky hospital is shut down indefinitely.

Officials at Saint Joseph - London say the country's financial situation is making it too difficult to keep going.

The new Saint Joseph London is expected to provide more jobs and better care, but it appears we're going to have to wait a little longer.

“The same crisis that's impacting the banks is trickling down to the organizations that want to raise capital for some significant expenditures,” Robert Brock Saint Joseph London, CFO, said.

Construction for the nearly 150 million dollar project started months ago, but Saint Joseph's owner, Catholic Health Initiatives, is pulling back on several projects.

Like many of us, it is feeling the affects of the shaky stock market.

“Our capital capacity has directly been negatively impacted most of all by the performance of the market in recent months,” Brock said.

Officials say the company remains profitable, but to keep it that way they are suspending construction.

“It will be a couple of months. How much beyond that will really depend on our ability to secure financing at a reasonable rate,” Brock said.

We noticed some activity at the new hospital site.

“We want to protect what we've done so far, but activity will be minimal until we restart again,” Brock said.

It is still unclear exactly how this will affect the 200 people working on the project, but officials say work will resume, and by summer there could be more than 500 workers at the site.

Officials say construction on the new hospital was ahead of schedule, so it should still be complete by Summer 2010, just slightly later than originally planned.

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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Shelly on Nov 25, 2008 at 11:09 AM
    This is what happens in a republican County.
  • by Wilson on Nov 25, 2008 at 11:06 AM
    Bush economics at their best and just think Laurel County voted republican--go figure.
  • by Pike County Resident Location: Pike on Nov 25, 2008 at 05:52 AM
    I love that people have faith in our hospitals!!! From what I hear PMC & Highlands are not next!!
  • by Bailey on Nov 24, 2008 at 07:32 PM
    PMC and Highlands are next...
  • by postit Location: ky on Nov 24, 2008 at 07:18 PM
    In my opinion, Catholic Health is just getting too big for it's britches & their takeover of small town hospitals is a double edged sword. Their religious restrictive beliefs are definitely limiting access & choices to patients that may only have one hospital per town.


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