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News and Events FOR IMMEDIATE RELEASEDate: December 2, 2008 Re: Aspen Valley Hospital Credit Rating Contact: Ginny Dyche, Community Relations, 544-1296 Baa3 rating is investment grade Aspen Valley Hospital (AVH) recently underwent a rigorous review of its financial status by Moody’s Investors Service, and a Baa3 rating was reassigned to the hospital’s $12 million of Series 2007 outstanding debt. The outlook was identified as “stable” and reflects the “strong financial performance and absolute and relative liquidity levels at AVH, tempered by the substantial long-term capital plans remaining.” The capital plans referenced include a master facilities plan which is currently in the review process by the City of Aspen. According to AVH Chief Executive Office Dave Ressler, “Approval by the City and the ability to issue bonds --- which is highly dependent upon a positive credit rating --- are both crucial to the planned expansion and renovation” of the 1970s-era hospital. “This is very good news and validates our efforts at fiscal management.” Terry Collins, Chief Financial Officer noted, “We are extremely pleased with the Baa3 rating. A number of hospitals have had their rating downgraded this year, in part due to the impacts of a general economic slump. Fortunately, we have been able to preserve cash, manage expenses, and thereby maintain our investment-grade rating.” Among the strengths identified in the Moody’s evaluation were:
AVH's New MRI is Open Bore Offers Patient Comfort and Quality Images Aspen Valley Hospital (AVH) has installed an Open Bore, 1.5 Tesla, magnetic resonance imaging (MRI) system that combines a larger bore, or opening, with the ability to capture high-field quality diagnostic images. Patients who are claustrophobic or too large to fit inside the bore of many high-field MRI magnets often have imaging studies done in open MRI systems with low-field magnets. The low-field magnet limits the diagnostic usefulness of the images obtained. "This patient-friendly magnet, with the open bore design, helps overcome barriers for certain patients," says Bart Outzen, Director of the AVH Diagnostic Imaging Department. "Patients who might otherwise have to compromise quality in a low-field magnet, or be sedated in the typical small bore magnet, now have the benefit of both an open bore and high quality images." The Siemens Medical Solutions MAGNETOM Espree installed at AVH features a bore opening of nearly 2.3 feet in diameter and almost one foot of free space between a patient's head and the magnet. The Espree also features the shortest 1.5 Tesla magnet available. Approximately four feet long, the magnet allows more than 60 percent of exams to be completed with the patient's head outside the bore, helping to ease claustrophobia. In addition, the Espree can perform advanced studies in less time due to a coil design that enables the highest resolution images in a shorter amount of time. The new MRI cost $1,650,000, with an additional $750,000 being spent on ancillary items and renovations to accommodate the new equipment. The Aspen Valley Medical Foundation (AVMF) contributed $825,000 -- one half the price of the actual magnet -- toward the purchase. "We are extremely grateful to AVMF and its generous donors," said AVH CEO Dave Ressler. "State-of-the-art technology is a high priority for AVH, and AVMF has helped us achieve our goals yet again." |
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 "I really appreciate the 'tender loving care' the entire staff of nurses, doctors, and others provided while I was at Aspen Valley Hospital." —AVH Patient |
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