Asked for One and Got Two: SPI Hospital Update

Another Capital Firm merged with Investor Sam Wilkinson and brought new ideas for South Padre Island’s first hospital in history.

After a trip to Catalina Island off the coast of California, Dr. Joe Ybarra confirmed the future hospital would have a non-profit status. According to Ybarra, the non-profit status is needed to ensure the community’s needs are met with accountability as opposed to for-profits, where a duty to care for investors comes first.

Since South Padre Island land classifies as rural, “This allows us to be a critical access hospital,” said Ybarra.

The question of why investors would still invest in a non-profit is because of land. The return on investment is tax-exempt.

A new issue is whether to go bigger with land acquisition. “We’re in the process of looking at other properties on the island.”

The initial property purchased, located in front of the fire station, received funding for a modular building. Modular buildings are made in a factory and brought to the premises in sections That will enable acceptance for ambulance patients/traffic.

The modular building will accept low acuity emergencies.

Over the period during the pandemic, $2 million has been invested by Dr. Ybarra and Sam Wilkinson. This included the architectural designs that assisted the clinic in providing health care.

Currently, the investors are looking for 3-5 acres of land.

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