Savannah (Ga.) Hospital Authority approved Savannah-based St. Joseph's/Candler's bond resolution for an $87.5 million expansion, according to WTOC.com.
Here are four key points:
1. The hospital will use part of the money to expand the hospital's ambulatory surgery center.
2. St. Joseph's/Candler will also expand various patient rooms.
3. The approved bond will give the hospital nearly $40 million for the total project cost.
4. Savannah Authority and the city of Savannah are not liable to repay the bonds, according to Savannah City Attorney Brooks Stillwell.
"We're continuing to expand in our volumes, particularly on the outpatient side. And that's where a lot of this is directed. With the changes in healthcare, we're seeing our inpatient volumes stay steady, or even decline a little bit. And where we're seeing a big shift is over to the outpatient side," said CFO Gregory Schaack, St. Joseph's/Candler.
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