Oroville (Calif.) Hospital has received $200 million in bonds from 48 large institutional investors to fund a five-story, 165,000-square-foot medical tower, according to the Chico Enterprise-Record.
The project will double the hospital's square footage and connect to the current hospital with a walkway. Investors in the bonds include Goldman Sachs, Franklin Funds and Barclays Bank, with bond maturities ranging from five to 35 years.
"For these New York markets to pay attention to us, it had to be kind of extraordinary because we’re an independent hospital in California," said Robert Wentz, Oroville Hospital's CEO. "It's due to how we operate. We have incredible employees that have done extraordinary work over a long period of time to put the hospital in a position where these people would think that we are a good investment."