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.
More articles on healthcare finance:
Illinois hospital closes; OSF Healthcare converts building into urgent care center
Steward’s losses mount as system takes a long-term view
Missouri hospital to close this month as BJC consolidates services
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
