Altru Health may raise $150M to help finance new hospital

Grand Forks, N.D.-based Altru Health is looking at raising up to $150 million in a future bond issuance to help finance its expansion project, according to an Aug. 30 filing.

Advertisement

The new $380 million hospital project, which is expected to see its first patients in early 2025, is a seven-story facility featuring 226 beds and a neonatal intensive care unit. Part of the potential money raised could also be used for related renovation work, according to the filing.

Altru Health, which named interim CFO Derek Goebel as its new permanent CFO Aug. 29, said in April it was also trimming its executive numbers.

At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.

Advertisement

Next Up in Financial Management

  • Baylor College of Medicine and Texas Children’s Hospital established an affiliation more than 70 years ago in the Texas Medical…

  • Fitch revised Ontario, Calif.-based Prime Healthcare Services’ outlook to positive and affirms its “B” rating.  The revised outlook reflects Fitch’s…

  • Brentwood, Tenn.-based Lifepoint Health, a health system owned by private equity firm Apollo Global Management, has largely grown over the…

Advertisement

Comments are closed.