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:6/24/2016)... ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway Pain Relief ... a minimum wage raise to $12 an hour by 2020 and then adjusting it yearly ... lost value of the minimum wage, assure the wage floor does not erode again, and ...
(Date:6/24/2016)... Georgia (PRWEB) , ... June 24, 2016 , ... ... awards today at the Clinical Decision Making in Emergency Medicine conference in Ponte ... have authored journal articles published in Emergency Medicine Practice and Pediatric ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Investment Group (TGIG), has initiated cultivation and processing operations at its production facility, ... Pahrump, Nevada. , Puradigm is the manufacturer of a complete system of proactive ...
(Date:6/24/2016)... ... June 24, 2016 , ... National recruitment firm Slone Partners ... extensive sequencing and genomics experience, as Vice President of North American Capital Sales at ... responsible for leading the sales team in the commercialization of the HTG EdgeSeq system ...
(Date:6/24/2016)... , ... June 24, 2016 , ... ... human induced pluripotent stem (iPS) cells and other difficult to transfect cells, announces ... Medium. The PluriQ™ G9™ Gene Editing System is a complete system ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... 2016   Pulmatrix, Inc ., (NASDAQ: ... drugs, announced today that it was added to the ... its comprehensive set of U.S. and global equity indexes ... important milestone for Pulmatrix," said Chief Executive Officer ... our progress in developing drugs for crucial unmet medical ...
(Date:6/23/2016)... -- Research and Markets has announced the addition ... 2022" report to their offering. ... with kidney failure, it replaces the function of kidneys by ... and thus the treatment helps to keep the patient body,s ... Increasing number of ESRD patients & substantial healthcare ...
(Date:6/23/2016)... , June 23, 2016 Roche (SIX: ... 510(k) clearance for its Elecsys BRAHMS PCT (procalcitonin) assay ... sepsis or septic shock. With this clearance, Roche is ... a fully integrated solution for sepsis risk assessment and ... with bacterial infection and PCT levels in blood can ...
Breaking Medicine Technology: