Annual Report

2008 was a year of both challenge and excitement

LRGHealthcare, like other hospitals and healthcare systems around the state and nation, was not immune to the financial difficulties caused by a faltering economy.

But challenge can be viewed as opportunity, and 2008 also saw our patients, staff, community, and business community step up to the plate to show their commitment to our local healthcare system. Because of that, this was also a year of great excitement and new beginnings.

In February, we held our 4th Annual Red Dress Gala, sponsored by Metrocast. Held at Church Landing in Meredith, the event raised more than $47,000 to support cardiac care in our community. In August, Laconia Country Club was the site for our long-running annual Golf Classic, which was held this year with the support of our new title sponsor, Laconia Savings Bank. This event brought our community together and raised $55,000 to support HealthLink—further ensuring healthcare access for all in our community.

Fall saw two exciting developments: The launch of digital mammography services in our community, and the opening of our outpatient facility at the new Hillside Medical Park in Gilford. After a year of coming together to help us to raise the necessary funds, our community joined us in our excitement as we introduced digital mammography services at our four locations in the region, making this gold standard in mammography technology available to every woman in our community.

And at Hillside Medical Park, our Sleep Lab, Occupational Health Services, Rehabilitation Services (including a new therapy pool), Pain Solutions, Holistic Health and primary care provider offices all opened their doors in bright, new space, giving patients easier, more convenient access to a wide range of medical services.

In December, we launched final preparations for one of the biggest, most exciting projects LRGHealthcare has seen in recent years—we began site preparation for a 2009 groundbreaking on an 87,000 square foot addition at our Lakes Region General Hospital campus. This fivestory addition will join the hospital and Medical Office Building, and will house a new ICU and Eldercare Unit, a reconfigured and expanded lobby, administrative and support services space, and infrastructure for the addition and to upgrade the current building.

This addition is a need, not a “want.” We are undertaking this project to meet the growing healthcare needs of our community today, and to prepare ourselves to meet those changing needs tomorrow. We are excited to move forward on this project, but are also cognizant of the need for caution in uncertain economic times. For that reason, we have phased the project to enable us to move forward in steps, reassessing our financing and financial position as we proceed. We take seriously our commitment to act as good stewards of public funds, and that requires us to be both fiscally responsible and strategic with our finances.

Now, as we look forward to 2009, we anticipate another year of excitement and new beginnings. In February, we will hold our 5th Annual Red Dress Gala with our new title sponsor, Harvard Pilgrim Health Care and Health Plans, Inc. with whom we are expanding our partnership to provide new savings and opportunities to people in our community.

In March, we will hold a new event, a Bruins Alumni Hockey Game sponsored by Orthopedic Professional Association, to raise money for senior services. In August, Laconia Savings Bank will once again join us on the links at our annual Golf Classic. Through the course of the year, also watch for progress on our Lakes Region General Hospital addition, and the rollout of our new Room Service program at Franklin Regional Hospital.

Thank you for a great year in 2008, and we look forward to the promise of 2009.

Sincerely,

Tom Clairmont
President & CEO, LRGHealthcare

Jim Aberg
Chairman, LRGHealthcare Board of Trustees