Marshfield Clinic Plans to Borrow $1 Billion for Purchase of Ministry Saint Joseph's
Wednesday, August 31st, 2016 -- 9:06 AM
(Jonathan Anderson, USA TODAY NETWORK-Wisconsin) -Marshfield Clinic plans to borrow more than $1 billion to pay for its purchase of Ministry Saint Joseph’s Hospital in Marshfield and to upgrade medical facilities throughout central and northern Wisconsin.The health care provider is seeking the money through the Wisconsin Health and Educational Facilities Authority, an obscure state agency that helps nonprofit organizations finance construction projects, according to a public hearing notice issued last week.
The funding would come from tax-exempt municipal bonds, not tax dollars or other public money, according to the agency's website. Marshfield Clinic intends to spend about $800 million to buy and renovate Saint Joseph's in Marshfield, and to improve and expand medical facilities in Marshfield, Wausau, Stevens Point, Eau Claire and Menomonie, among other places. Specific changes may include replacing buildings, adding and updating patient rooms, enhancing signage and installing new ventilation and temperature-control systems.
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