Mahaska Health Partnership, a critical-access hospital in Oskaloosa, Iowa, will begin construction on a $25 million, 52,000 square-foot facility expansion.
The two-story addition will house a surgery suite, inpatient services and a birthing center.
Lancaster Pollard helped the hospital secure funding for the expansion. The U.S. Department of Agriculture provided a $23-million direct loan to fund Mahaska's expansion, but because USDA direct loans cannot be used to directly fund construction projects, Lancaster Pollard underwrote multidraw bonds and used a competitive bidding process with both local and regional investors to obtain a low interest rate for construction financing. A separate series of bonds was issued to refund Mahaska's existing debt for a total interim financing of $25 million.
Geisinger Medical Center in Pennsylvania to Build $52.8M Patient Lab
Clearview Regional Medical Center in Georgia Unveils New Hospital
The two-story addition will house a surgery suite, inpatient services and a birthing center.
Lancaster Pollard helped the hospital secure funding for the expansion. The U.S. Department of Agriculture provided a $23-million direct loan to fund Mahaska's expansion, but because USDA direct loans cannot be used to directly fund construction projects, Lancaster Pollard underwrote multidraw bonds and used a competitive bidding process with both local and regional investors to obtain a low interest rate for construction financing. A separate series of bonds was issued to refund Mahaska's existing debt for a total interim financing of $25 million.
More Articles on Hospital Expansions:
Benewah Community Hospital in Idaho Nears Completion of $28.5M ExpansionGeisinger Medical Center in Pennsylvania to Build $52.8M Patient Lab
Clearview Regional Medical Center in Georgia Unveils New Hospital