St. Joseph's Hospital Health Center in Syracuse, N.Y., has received a $200 million loan from its new parent company, Livonia, Mich.-based Trinity Health, to pay its public and private debt, according to The Post-Standard.
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