Charlotte, N.C.-based Carolinas HealthCare System is investing $971 million in projects for its 2018 budget, according to a Charlotte Business Journal report.
Carolinas HealthCare's board of commissioners approved its budget Tuesday, projecting continued growth for 2018. The health system, which owns or manages 46 hospitals in North Carolina and South Carolina, expects a net income of $593.7 million in 2018.
2018 projects include a $130 million investment in the Levine Cancer Institute in Charlotte, $115 million to modernize Carolinas HealthCare NorthEast in Concord, N.C. and a freestanding emergency department expansion to the system's Steele Creek location in Charlotte.
Additional funds will be used for upgrading medical equipment, replacing core systems and developing projects in other markets.
"The capital investments are needed to meet the demands of the future, including overall population growth and healthcare demands in local and rural markets," said Anthony DeFurio, executive vice president and CFO of Carolinas HealthCare.