Cincinnati Children’s is planning roughly $1.4 billion in capital investments through fiscal 2031, the system said in a statement shared with Becker’s. The system is pursuing bond financing to support expansion and renewal projects.
“This financing will help fund key initiatives, including the expansion of our Liberty Campus, modernization of inpatient and procedural locations on the main campus, investments in research infrastructure, and ongoing renewal of facilities,” Evaline Alessandrini, MD, COO of Cincinnati Children’s, said in a statement to Becker’s. “These projects are designed to ensure Cincinnati Children’s can continue providing highly specialized pediatric care, support groundbreaking research, and deliver the best possible outcomes and experiences for families today and in the future.”
Cincinnati Children’s has already issued around $450 million in bonds, according to a report from WKRC, a CBS affiliate in Ohio.
Six things to know:
1. $365 million will fund the expansion of Cincinnati Children’s Liberty Campus will add inpatient, emergency, surgical and ambulatory capacity.
2. Roughly $500 million has been set aside for systemwide maintenance and modernization of clinical, research and administrative facilities.
3. Research facilities and infrastructure are to be allocated $165 million.
4. The system plans to use $170 million to expand its main campus’s cath lab and renovate Location A.
5. Around $50 million will go toward paying down prior debt.
6. Cincinnati Children’s will set aside $165 million for future projects.
