Medicalodges, Inc., a Kansas Long-Term Care Company, has entered into arrangements to refinance its Employees Stock Ownership Program and other mortgage notes.
Headquartered in Coffeyville, Medicalodges formed the first 100 percent Long-Term Care Operation in the nation in 1998, and it has successfully reduced its debt since.
The funding vehicle, the first Housing and Urban Development Loan Program 232 using the expedited “LEAN” process in Kansas, will insure the continuity of service for its locations.
“Most conventional lenders are not making loans of this nature, let along long-term loans,” said Garen Cox, Medicalodges’ CEO and President, “and we consider ourselves very fortunate to obtain a loan with such favorable terms.”
Medicalodges employs approximately 1,700 people and has the majority of its facilities in the state of Kansas and locally has operations in Pittsburg, Fort Scott, Columbus, Nevada and Neosho.
COFFEYVILLE —
