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Sutter Health to issue $500 million in bonds to fund hospital upgrades
Modern Healthcare

Sutter Health, the 25-hospital, Sacramento, Calif.-based system, is issuing $500 million in bonds to help finance the construction of three replacement hospitals.

The bonds are expected to price next week. The proceeds will allow Sutter to reimburse itself for prior capital expenditures.

Sutter is building two hospitals in San Francisco: one at the corner of Van Ness Avenue and Geary Boulevard, which will have 274 beds and 765,000 square feet, and another adjacent to the current site of St. Luke’s Hospital, which will have 120 beds and 237,000 square feet. Both are expected to be completed in 2019.