Allegheny County officials originally denied selling $335 million in municipal bonds on behalf of UPMC earlier this month due to UPMC’s frayed negotiations with health insurer Highmark, according to the report.
UPMC is weighing financing options in order to refinance other existing bonds and fund the construction of UPMC East in Monroeville, Pa., the health system’s newest hospital that is slated to open in July 2012.
Related Articles on the University of Pittsburgh Medical Center:
Senators Question UPMC’s Tax-Exempt Status
UPMC Wants West Penn-Highmark Agreement Made Public
UPMC’s 1Q 2012 Operating Income Reaches $155M
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