The California Health Facilities Financing Authority has approved a $1.9 billion tax-exempt bond deal to Oakland, Calif.-based Kaiser Foundation Hospitals, the largest transaction ever approved by CHFFA, according to the California state treasurer's office.
Kaiser will use the funds to build six new hospitals, expand a current hospital and build a new specialty medical office. The bonds were issued to help Kaiser stay up-to-date with California's seismic regulations.
The six new hospitals will replace the following Kaiser facilities: Anaheim (Calif.) Medical Center, Fontana (Calif.) Medical Center, Hayward (Calif.) Medical Center, Redwood City (Calif.) Medical Center, South Bay Medical Center in Harbor City, Calif., and Kaiser's flagship, Oakland Medical Center. The bonds will finance an expansion at Kaiser's Los Angeles Medical Center.
Kaiser will use the funds to build six new hospitals, expand a current hospital and build a new specialty medical office. The bonds were issued to help Kaiser stay up-to-date with California's seismic regulations.
The six new hospitals will replace the following Kaiser facilities: Anaheim (Calif.) Medical Center, Fontana (Calif.) Medical Center, Hayward (Calif.) Medical Center, Redwood City (Calif.) Medical Center, South Bay Medical Center in Harbor City, Calif., and Kaiser's flagship, Oakland Medical Center. The bonds will finance an expansion at Kaiser's Los Angeles Medical Center.
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