I am president of ASC Group, a healthcare development company based in Park City, Utah. ASC executives and physicians in Idaho Falls, Idaho, with whom ASC is affiliated, read with great interest "Idaho docs planning to take on Columbia" (Jan. 24, p. 18). We believe the article did an admirable job of describing the motivation of the foundation of Idaho Falls Community Hospital and the general healthcare climate prevailing within the Idaho Falls market.
However, the article contained certain points that require clarification. First, it noted that the hospital project is anticipated to cost $24 million. As currently estimated, the more "focused" hospital project will cost about $16 million.
Second, Barbara Kolstad of ASC was quoted in the article as stating that a private placement memorandum for the hospital will be distributed in February to " . . . all interested investors." Kolstad was incorrect, and we apologize for the misstatement. Investment in the hospital will be conducted in a strictly private manner consistent with the securities laws governing private placements.
Park City, Utah