Lexington-based University of Kentucky HealthCare is seeking $2 billion in bonding authority to finance the expansion of its Albert B. Chandler Hospital, The Lexington Times reported Oct. 10.
Hospital officials said that the 300-bed expansion is needed to meet the higher demand for care in the Lexington area. The system can use anticipated revenues to self-finance the project, but it needs additional bonding authority.
For fiscal year 2023, UK HealthCare reported $352 million in excess revenues over expenses.
"We'll self-finance that . . . over time," University of Kentucky President Eli Capilouto said. "To start construction and further our design, we'll need approval from the General Assembly. … This funding is vital to provide the best service we possibly can for the people of the commonwealth. We have to do more and we have to do better."