Navigation Links
Virtua Health Receives Approval from NJHCFFA to Sell Tax-Exempt Bonds
Date:2/26/2009

Reports of construction delays are unfounded

MARLTON, N.J., Feb. 26 /PRNewswire-USNewswire/ -- Today Virtua Health received approval from the New Jersey Health Care Facilities Financing Authority (NJHCFFA) to sell tax-exempt bonds for the financing of its replacement hospital in Voorhees. "We appreciate the Financing Authority's unanimous vote for Virtua to issue tax exempt bonds," said Bob Segin, Virtua's Chief Financial Officer. Virtua has financed the construction project to date with cash reserves.

"Reports that there would be a delay in construction are unfounded," said Segin. "There is absolutely no plan to slow down or curtail the construction project which is already ahead of schedule." The completion date is still planned for mid-2011.

Following a 10-day period, Virtua can move forward at any time to issue bonds. Virtua has several financing options based upon current and future market conditions including funding the project out of its cash reserves, obtaining a taxable bridge loan or issuing its tax-exempt bonds.

"The plan is to go to the bond market when market conditions are optimal," said Segin. "We are closely watching financial legislation as well as a current thaw in the market, and we are weighing all of our options."

Virtua Health is a comprehensive healthcare system headquartered in Marlton, NJ. Its mission is to deliver a world-class patient experience through its programs of excellence in cancer treatment, cardiology, orthopaedics, women's health, pediatrics, surgery, neuroscience and wellness. A non-profit organization, Virtua employs 7,900 clinical and administrative personnel, and approximately 1,800 physicians serve as medical staff members. Virtua has distinguished itself as one of the first Six Sigma organizations in healthcare, as an early adopter of clinical and digital technologies, and for its innovative partnerships with nationally renowned organizations such as GE Healthcare, Fox Chase Cancer Center and A.I. duPont Hospital for Children. It has been honored twice with the New Jersey Governor's award for Clinical Excellence (Bronze in 2005; Silver in 2006) and recognized with the Leadership Award for Outstanding Achievement by Voluntary Hospitals of America. Virtua has been honored as the #1 Best Employer in the Delaware Valley by the Philadelphia Business Journal three years in a row and is the recipient of the 2006/2007 and 2007/2008 Consumer Choice Awards by National Research Corporation. For more information, visit our website at www.virtua.org or call 1-888-VIRTUA-3 (1-888-847-8823)


'/>"/>
SOURCE Virtua Health
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. VirtualScopics Announces $4.35 Million Private Placement
2. Virtual colonoscopy -- a new technology for colorectal cancer screening?
3. Virtual Colonoscopy an Effective Option: Study
4. Virtual game helps children escape realities of burn unit
5. MyoMed Launches Flash Virtual Tour of Toxin-Free Pain Relief
6. HIMSS Second Virtual Conference & Expo Less Than a Month Away
7. Virtual Reality Technology Finds Ready and Willing Market in Healthcare
8. Epstein-Barr: a virtual look at a vexing virus
9. Design-her Gals(TM) Announces the Ground-Breaking Virtual On-Line Walk for Wishes to Grant Dreams for Stage IV Breast Cancer Patients this Holiday Season Through Gal to Gal Foundation
10. Innovative Amerathon Club Website Virtual Journey to Good Health
11. ACUVUE(R) 2 COLOURS(R) Brand Contact Lenses Launches Virtual Eye Makeover Tool
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/28/2017)... LINCOLN, R.I. (PRWEB) , ... April 28, 2017 , ... Getting enough sleep affects much ... Sleep Foundation (NSF), going just 19 hours without sleep can compromise motor reaction time, which ... Awareness Week, and Amica Insurance is sharing the following tips from the NSF to help ...
(Date:4/28/2017)... ... April 28, 2017 , ... Date aired: ... , “Computers are everywhere and they’re here to stay,” said Sharon Kleyne on ... and Your Health on Voice America sponsored by Nature’s Tears® EyeMist®. So she ...
(Date:4/28/2017)... ... April 28, 2017 , ... The Radiology Business Management Association (RBMA) ... 2017-2018. The annual board election process has been in place since the RBMA was ... C. Dickerson, Ed.D., FACHE, succeeds Jim Hamilton, MHA, CMM, FRBMA, as president. Dr. Dickerson ...
(Date:4/28/2017)... ... April 28, 2017 , ... Children and adolescents who ... experiences than children in the general population. That’s because foster care is designed ... family challenges. While no fault of their own, youth who have experienced trauma ...
(Date:4/28/2017)... ... April 28, 2017 , ... From ... College of Urgent Care Medicine will host industry leaders for the annual spring ... help those in the industry adapt to the issues currently affecting urgent care ...
Breaking Medicine News(10 mins):
(Date:4/19/2017)... The Mobile X-Ray product segment is the most attractive market ... period Mobile X-Ray segment is the largest segment ... market, which is estimated to be valued at more than ... 7% over the forecast period. Mobile X-Ray segment is expected ... Mn in 2017 over 2016. The segment,s revenue in the ...
(Date:4/19/2017)... 2017 Global Prostate Cancer Therapeutics Market: ... prostate cancer therapeutics market analyzes the current and ... of prostate cancer, launch of promising emerging therapies, ... new drugs & therapeutic biological products, and high ... lesser side effects are some of the drivers ...
(Date:4/19/2017)... , April 19, 2017  Sorrento Therapeutics, ... antibody-centric, clinical-stage biopharmaceutical company developing new treatments for ... the closing of its previously announced underwritten public ... at a public offering price of $2.00 per ... estimated offering expenses payable by Sorrento.  The net ...
Breaking Medicine Technology: