Committee OKs bill to help save two closed Hawaii hospitals
Pacific Business News
February 10, 2012
A House committee on Friday passed a bill to issue and $80 million special purpose revenue bond for St. Francis Healthcare System of Hawaii to reopen the two closed Hawaii Medical Center Hospitals.
A state House committee on Friday passed a bill to issue $80 million in revenue bonds to St. Francis Healthcare System of Hawaii to upgrade the two shuttered Hawaii Medical Center hospitals.
House Bill 2345, which passed the House Health Committee on a vote of 7-0, with three members excused, awaits a hearing in the House Finance Committee before heading to a floor vote.
St. Francis would use the money to upgrade the buildings at Hawaii Medical Center East in Liliha and Hawaii Medical Center West in Ewa, upgrade the courtyard and parking garage, modernize technology and equipment and refinance debt at both facilities.
St. Francis was the largest secured creditor in the Hawaii Medical Center bankruptcy after financing more than $40 million of the $68 million price in the 2007 sale to Hawaii Medical Center.
A spokesman for St. Francis told PBN this week that the assets, the two hospitals, eventually will be returned to St. Francis, but he could not say when that transaction might occur.
St. Francis wants to see the hospital in Ewa eventually reopen as an acute-care hospital and plans to turn the Liliha hospital into a long-term care facility.
Loading ...