Lawrence General Hospital: Comprehensive Company Profile

Background

Overview

Lawrence General Hospital, established in 1875, is a private, non-profit community hospital located in Lawrence, Massachusetts. Serving the Merrimack Valley and southern New Hampshire regions, the hospital is dedicated to providing patient-centered, compassionate, and quality health care for the entire family. With a history spanning nearly 150 years, Lawrence General has consistently committed to improving the health of the communities it serves.

Mission and Vision

The hospital's mission focuses on delivering high-quality, high-value medical care to the community, emphasizing accessibility and comprehensive services. Its vision includes expanding specialty services and clinics locally, reducing the need for patients to travel to Boston for advanced care.

Industry Significance

As a key healthcare provider in the Merrimack Valley, Lawrence General Hospital plays a crucial role in offering a broad range of medical services, including emergency care, cardiac services, maternity care, and more. Its affiliations with Beth Israel Deaconess Medical Center and the former Floating Hospital for Children at Tufts Medical Center have enhanced its capacity to provide specialized care locally.

Key Strategic Focus

Core Objectives

Lawrence General Hospital aims to:

Enhance the delivery and coordination of care.

Improve health outcomes for patients and communities served.

Advance health equity by ensuring residents have access to care that supports optimal health.

Areas of Specialization

The hospital offers a comprehensive range of services, including:

Emergency Services: A 41-bay Emergency Center and Level III Trauma Center.

Cardiac Care: Top-rated Cardiac Catheterization Lab.

Maternity and Pediatric Services: Birthing and pediatric centers.

Imaging Services: State-of-the-art Imaging Center featuring "Ambient Imaging" technology.

Sleep Center: A four-suite facility for sleep studies.

Diabetes & Nutrition Education Center: Providing education and support for diabetes management.

Key Technologies Utilized

The hospital employs advanced medical technologies, including:

"Ambient Imaging" technology in its Imaging Center.

Robot-assisted total and partial knee replacement programs.

Primary Markets Targeted

Lawrence General Hospital primarily serves the Merrimack Valley and southern New Hampshire regions, focusing on providing accessible and comprehensive healthcare services to these communities.

Financials and Funding

Funding History

In March 2018, MassDevelopment issued a $65.7 million tax-exempt bond for Lawrence General Hospital. The hospital utilized the proceeds for interior and exterior renovations, upgrading its pharmacy, boiler plant, parking lot, and replacing its electronic medical record system.

Recent Financial Performance

For the fiscal year ending September 2023, Lawrence General Hospital reported:

Total Revenue: $340.8 million

Total Expenses: $345.5 million

Net Income: -$4.7 million

Total Assets: $271.1 million

Total Liabilities: $233.7 million

Utilization of Capital

The capital raised has been directed towards facility upgrades, technological advancements, and refinancing existing debt to enhance service delivery and operational efficiency.

Pipeline Development

As a community hospital, Lawrence General focuses on expanding and enhancing its existing services rather than developing new products or clinical trials. Recent developments include:

Emergency Center Expansion: A new 41-bay Emergency Center to improve emergency care capacity.

Imaging Center Upgrade: Introduction of "Ambient Imaging" technology, the only one of its kind in the state.

Cardiac Services Enhancement: Establishment of a top-rated Cardiac Catheterization Lab.

Technological Platform and Innovation

Proprietary Technologies

Lawrence General Hospital has integrated advanced technologies to enhance patient care, including:

Ambient Imaging Technology: Implemented in the Imaging Center to improve patient experience and diagnostic accuracy.

Robot-Assisted Surgery: Utilized in total and partial knee replacement procedures to enhance precision and outcomes.

Scientific Methodologies

The hospital employs evidence-based clinical practices and participates in quality improvement initiatives to ensure high standards of care.