MARSHFIELD, Wis. (AP) — Marshfield Clinic will borrow about $1 billion to acquire Ministry Saint Joseph’s Hospital and upgrade its medical facilities in central and northern Wisconsin.
The funding would come from the Wisconsin Health and Educational Facilities Authority, a state agency that helps nonprofit organizations finance construction projects. The funding is generated by tax-exempt municipal bonds, not tax dollars.
USA Today Network-Wisconsin says Marshfield Clinic plans to spend about $800 million to purchase and renovate the Marshfield hospital and expand its health care facilities in Stevens Point, Eau Claire, Menomonie, Wausau and other locations.
The upgrade and expansion plans include replacing buildings, adding and updating patient rooms, enhancing signage and installing new ventilation and temperature-control systems.