Lifespan Borrowing $300M - Major New Facilities at Miriam and RI Hospital
Wednesday, January 24, 2024
Lifespan, Rhode Island’s largest hospital group, is seeking to borrow $300 million, according to preliminary official bond documents secured by GoLocal.
The hospital group is leveraging the Rhode Island Health and Education Building Corporation as the conduit for the borrowing.
According to the documents, the total cost of the borrowing will cost the hospital group nearly half a billion dollars over the term of the bonds.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST
Major Construction at The Miriam Hospital
According to the plan of financing, “The projects include the demolition, construction, renovations and fit out of facilities located at the Miriam Hospital’s campus located at 164 Summit Avenue, 1125 North Main St. 8-10 and 14 Third Street and 61,65 and 69 Fifth Street.”
The Miriam is located in the summit neighborhood on Providence's East Side.
In addition, the documents show that Lifespan plans new construction on the Rhode Island Hospital campus as well. Rhode Island Hospital is the state's only Level 1 Trauma Center.
The details of the specific construction are not included in the preliminary bond documents.
The borrowing is going on at the same time that Lifespan is seeking tens of millions of dollars in state subsidies. Governor Dan McKee has proposed $90 million in subsidies to Rhode Island’s hospitals in the FY25 budget, which is now before the Rhode Island General Assembly.
Related Articles
- Nurse at The Miriam Facing Firearms Charges After Bringing Gun to Hospital
- Miriam Hospital To Offer Men’s Cancer Wellness Group
- Two Nurses Assaulted in Separate Incidents at Miriam Hospital Overnight
- No Penalties for Letting Board Members Jump Vaccine Line: Inaction by Neronha Against CNE & Lifespan
- Lifespan and Care New England in Merger Talks, Union Demands Input
- Lifespan Receives Over a Hundred Million in CARES Act Money, Then Gives Management Bonuses
- Lifespan Devastated by Coronavirus — Loses $75.7M in March, Nurses Committed to Difficult Work
- Mega-Merger: Lifespan and CNE Sign Agreement - Brown to Invest $125M, Will Need Federal Approval
- 5 Things You Need to Know About Lifespan - CNE Mega-Merger
- Miriam Hospital Worker Reportedly Robbed in Daylight at Knifepoint Off Hope Street in Providence
- Miriam Hospital Uses New Technology To Diagnose, Treat Bladder Cancer
- Miriam Hospital Awarded Highest Nursing Credential for 5th Time
- Miriam Hospital Hands Out Hurvitz Quality Improvement Awards
- Miriam Hospital Marks World AIDS Day With New Prevention Program
- Miriam Researchers: Prenatal Stress Leads To Nicotine Addiction
- Texting Too Much Linked To Lower College GPAs—Miriam Research
- The 3 Myths of Testosterone—Miriam Expert
- Miriam Hospital Open RI’s First Comprehensive Kidney Stone Center
- Lifespan and Care New England Move Forward with Merger, Nurses Union Wants Details
- A Lifespan and CNE Merger Needs Strong Oversight, Says Former Regulator
- Taking Medicine and Tech to the Next Level: Ranney on New Brown-Lifespan Center for Digital Health
- Lifespan Acquisition of Major Physician Group Takes Them Off Tax Roll
- New Biden Administration Policy on Hospital Mergers May Doom Lifespan-Care New England Deal
- “Long-Covid” Discrimination Lawsuit Filed Against Lifespan by Former Employee in Federal Court
- People on the Move: Lifespan New CEO and Hurley Recipient of Major Award
- Lifespan and Care New England Say They May Try Another Merger
- Lifespan CEO Tells Medical Staff of Major Reorg, President of RI Hospital Is Out
- If Lifespan Docs or Brass Were Assaulted, Nat’l Guard Would Be Deployed - No Action for Nurses
- Lifespan CEO Babineau Resigning - Move Comes Following Latest Failed Merger Attempt
- UPDATED: RI Will Join FTC in Lawsuit to Block Proposed Lifespan-Care New England Merger
- Lifespan and Care New England Merger Faces Growing Financial and Regulatory Challenges
- Former RI Dir. of Health Calls for Investigation Into Lifespan & Care New England Board Vaccinations
- Lifespan and Care New England Merger May Face Steep Challenge by Federal Regulators
- Major New England Commercial Real Estate Deal Involves Tenants Lifespan and Care New England
- Caution, Scrutiny Warranted as Lifespan-Care New England Merger Proposal Is Reviewed
- Lifespan and CNE Have Thousands of Vacancies - A Brown Consultant Says Merger Will Create More Jobs
