Ascension Health to Issue $600M in Bonds to Help Alexian Brothers Acquisition

Ascension Health in St. Louis is looking to shore up its most recent health system acquisition — Arlington Heights, Ill.-based Alexian Brothers Health System — by issuing $600 million in bonds, according to a Crain's Chicago Business report.

Roughly $425 million of the bond issuance will go toward refinancing Alexian's debt, according to the report. Ascension will spend the other $175 million on upgrading facilities throughout its system, including parts of Alexian such as St. Alexius Medical Center in Hoffman Estates, Ill.

The Illinois Finance Authority must approve the new bonds, and it is expected the board will make a final vote in the next few months.

Related Articles on Ascension Health:

Ascension Health Names Katherine Arbuckle CFO

Ascension Health Shuffles Executive Leadership, Names New COO

Alexian Brothers Health in Illinois Merges With Ascension Health

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