Roseville, Calif.-based Adventist Health System/West has been approved to issue up to $1 billion in tax-exempt bonds to help upgrade its EHR system and pay off some of its debt.
The bonds will support the rollout of a new Epic EHR systemwide, according to an Aug. 4 news release from the California State Treasurer’s Office. They will also be used to refinance existing debt, including commercial paper and a line of credit. Some older bonds may also be refunded if it results in savings.
The approval came from the California Health Facilities Financing Authority during its July 31 meeting. The authority assists nonprofit and public health organizations with improvements to their buildings and services.
“Adventist Health is strategically building for the future and long-term sustainability to ensure access to healthcare in the communities we serve,” a spokesperson for Adventist Health System told Becker’s in a written statement. “The bonds will support the systemwide launch of our new Epic electronic health record and refinance existing debt.”
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