Navigation Links
Virtua Health Takes Next Step for Continuing Hospital Construction

Current construction of Voorhees facility already ahead of schedule

MARLTON, N.J., Feb. 25 /PRNewswire-USNewswire/ -- Virtua Health will seek approval to sell tax exempt bonds from the New Jersey Health Care Facilities Financing Authority (NJHCFFA) on Thursday, February 26, 2009. The bonds will be used to continue the financing of its replacement hospital in Voorhees. "We have our plan for finance in place and have met the Finance Authority's requirements to receive approval for the contingent sale of tax exempt revenue bonds," said Bob Segin, Virtua's Chief Financial Officer.

Tomorrow's meeting with NJHCFFA is part of the normal process to seek approval for financing. Virtua has financed the construction project to date with cash reserves.

Following a 10-day period, Virtua can move forward at any time to issue bonds. Due to Virtua's strong financial position it 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. There is absolutely no plan to slow down or curtail the construction project which is already ahead of schedule."

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 or call 1-888-VIRTUA-3 (1-888-847-8823)

SOURCE Virtua Health
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Female genital mutilation among Israels Negev Bedouins has virtually disappeared -- BGU study
2. Virtua Permitted to Continue Top Docs Ad Campaign
3. Virtual studies answer real questions
4. Virtua Health Responds to Court Order
5. VirtualScopics to Present at 11th Annual BIO CEO & Investor Conference
6. Turner Reaches Milestone on $323 Million Virtua West Jersey Replacement Hospital in Voorhees, N.J.
7. Interactive virtual training at European Urology Forum in Davos
8. VirtualHealth Technologies, Inc. Unveils Strategy to Leverage $20 Billion Federal Health IT Proposal
9. Gold Coast, Queensland Cosmetic Plastic Surgeon Using Video to Give Virtual Tours of his Practice
10. MAKE IT FIT(TM) Offers Virtually Free Fitness Service to All Mississippi Residents on Make Mississippi Fit Day
11. VirtualHealth Technologies, Inc. Appoints Former DEA Assistant Administrator to its Advisory Board
Post Your Comments:
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... ... athletes and non-athletes recover from injury. Recently, he has implemented orthobiologic procedures as ... City area —Johnson is one of the first doctors to perform the treatment. ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... Conventional wisdom ... of success. In terms of the latter, setting the bar too high can result ... more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic ... many turn to unhealthy avenues, such as drug or alcohol abuse, as a coping ... released tools for healthy coping following a traumatic event. , Trauma sufferers tend to ...
(Date:6/24/2016)... PASADENA, CA (PRWEB) , ... June 24, 2016 , ... Marcy was in a crisis. ... he would lash out at his family verbally and physically. , “When something upset him, ... table, he would use it. He would throw rocks at my other children and say ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg ... Legal Elite. The attorneys chosen by their peers for this recognition are considered among ... Greenberg Traurig Shareholders received special honors as members of this year’s Legal Elite Hall ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 VolitionRx ... of Dr. Edward Futcher to the ... effective June 23, 2016.Dr. Futcher was also appointed ... Governance Committees.  As a non-executive member of the ... and strategic counsel to VolitionRx in connection with ...
(Date:6/23/2016)... , June 23, 2016 Any dentist who ... challenges of the current process. Many of them do not ... the technical difficulties and high laboratory costs involved. And those ... offer it at such a high cost that the majority ... Dr. Parsa Zadeh , founder of Dental ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Global MEMS Devices Medical Market Analysis 2016 - Forecast to ... The report contains up to date financial ... reliable analysis. Assessment of major trends with potential impact on ... dive analysis of market segmentation which comprises of sub markets, ...
Breaking Medicine Technology: