Navigation Links
Virtua Health Takes Next Step for Continuing Hospital Construction
Date:2/25/2009

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 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. 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:
*Name:
*Comment:
*Email:
(Date:5/31/2016)... ... May 31, 2016 , ... Spartan Bioscience ... enables unprecedented portability and convenience. , The Cube is exceptionally small—it takes up ... the Cube fits easily into any space, whether in a hospital, doctor’s office, ...
(Date:5/31/2016)... CA (PRWEB) , ... May 31, 2016 , ... WaterField ... for digital-minded professionals, announces the waxed-canvas and leather Duo Dopp Kit , the ... waxed canvas or ballistic nylon, the Duo is smartly designed for Dad’s ...
(Date:5/31/2016)... ... May 31, 2016 , ... Phynd Technologies, Inc. announced recently the signing of ... TX and Shore Medical Center – Somers Point, NJ. The new clients range in ... demonstrating the breadth of Phynd’s solution and its interoperability. , Houston Methodist is a ...
(Date:5/31/2016)... ... May 31, 2016 , ... Advertising Age ... and statement solutions provider, for the tenth consecutive year as a Top 20 ... Advertising Age, and SourceLink ranked eighteenth in the “U.S. CRM/Direct Marketing Agency” category. ...
(Date:5/30/2016)... California (PRWEB) , ... May 30, 2016 , ... ... easy to use inside of FCPX," said Christina Austin - CEO of Pixel ... exclusively for use within Final Cut Pro X. Choose from abstract transitions to ...
Breaking Medicine News(10 mins):
(Date:5/30/2016)... BANGALORE , May 30, 2016 - ... Limb Ischemia due to Buerger,s disease - Stempeucel® becomes ... body, anywhere in the world - Buerger,s Disease (also ... India and Globally - Prevalence ... India and 2 per 10,000 persons in the European ...
(Date:5/27/2016)... May 27, 2016 LabStyle Innovations ... Diabetes Management Tool, today announced that the Company,s Chief Financial ... MicroCap Conference being held June 1-2 in New ... held June 7-9 in Los Angeles, CA. ... recent corporate and operational milestones, including the U.S. FDA Clearance ...
(Date:5/27/2016)... Amarantus BioScience Holdings, Inc. (OTCQX: AMBS), ... and Orphan Diseases, today announced that President & CEO Gerald ... SeeThru Equity MicroCap Conference   Where: ... , NY When: Tuesday, May 31 st , ... Where: Grand Hyatt Hotel, 109 East 42 nd St, ...
Breaking Medicine Technology: