Trinity entered a definitive agreement to acquire St. Joseph’s last April, and St. Joseph’s officially joined Trinity in July.
Prior to joining Trinity, St. Joseph’s borrowed more than $211 million by issuing municipal bonds in 2012 and 2014. The proceeds of the bonds were used for various projects, including a new patient tower and an EHR system.
The loan from Trinity will help St. Joseph’s reduce its debt, which totaled $272 million as of Sept. 30.
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