News Release: November 29, 2006

RIO RANCHO -- Presbyterian Healthcare Services announced today that it has purchased 50 acres of land in Rio Rancho for the future home of Rio Rancho's first full-service acute care hospital. The hospital will be located on Unser Blvd., just south of Westside Blvd.

Presbyterian, a not-for-profit healthcare organization, invested $16.3 million for the land purchase as part of a total hospital investment projected to be $150 million. A design team at Presbyterian is currently planning a hospital of 100 beds or more that will be the state-of-the-art in healthcare delivery. The new hospital is scheduled to open in 2010.

"With the land in place, we are moving forward to build a hospital for Rio Rancho," said Kim Hedrick, administrative director for Presbyterian. "Rio Rancho is the state's fastest-growing city and Presbyterian believes the community needs a hospital. We have been working for years to recruit physicians, build facilities and create the essential pieces that will sustain a hospital for the long-term."

Hedrick added that having 50 acres gives the planning team great flexibility in designing a hospital that will serve the community for decades to come and give the facility room to grow. By comparison, Presbyterian Hospital in Albuquerque, a 453-bed hospital, sits on 32 acres.

Presbyterian built a $3.3 million emergency center in Rio Rancho in late 2005, opened an $18 million medical center for primary care physicians and specialists in 2004, and has brought numerous new services to Rio Rancho in recent years, including orthopedics, gastroenterology and imaging.

Presbyterian serves to improve the health of individuals, families and communities. Presbyterian Healthcare Services was founded in New Mexico in 1908, and is the state's only private, not-for-profit healthcare system. Presbyterian offers seven hospitals, a statewide health plan, and a growing multi-specialty medical group. Presbyterian employs more than 9,000 people throughout New Mexico.