Mr. Damron said the $230 million bond issuance is for refinancing existing debt, reimbursement for completed projects and new project funding.
“The majority of the funding is to refinance existing debt. However, about $25 million will be used to reimburse AU Medical Center for previous capital projects, including the recently completed hybrid operating suite and outpatient transplant center and renovations to a seventh-floor inpatient unit; with another $25 million being allocated for new projects, such as additional medical office space, cardiac intensive care renovations, pharmacy upgrades, and other projects to enhance patient care and access,” he said.
Augusta University Health officials said the approved resolution includes a 7 percent interest rate to allow for market fluctuation, and they anticipate the bond sale in October.
More articles on healthcare finance:
15 recent hospital, health system outlook and credit rating actions
T-System appoints Robert Hitchcock documentation chief: 4 things to know
For-profit hospital stock report: Week of July 30-Aug. 3
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
