Savannah, Ga.-based St. Joseph's/Candler is to use $55.5 million of new debt to help finance capital expenditure projects, according to a June 5 filing.
The proceeds of the bonds will go towards the "construction, acquisition, equipping, renovation and expansion of health care and related support facilities of the borrowers," according to the filing.
The three- hospital system, which also operates 14 primary care facilities in the Savannah area, reported higher than budgeted operating income of $26.4 million in the nine months ending March 31. St. Joseph's/Candler said it had long-term debt totaling $272.2 million as of Dec. 31.