$10,000,000 WHEFA bond financing helps Holy Family Memorial, Inc.
Upgrade Information Technology in Manitowoc & Two Rivers
“This significant investment represents Holy Family Memorial’s ongoing commitment to excellence in information technology. The upgraded electronic health records system will enhance HFM’s ability to effectively diagnose patients, provide safe care with accurate and complete information about patients at the point of care, improve patient/provider interaction and communication regarding their condition and integrated treatment plan, and attract and retain physicians to serve Manitowoc County.”
– James Vopat, Senior Vice President, Finance, Franciscan Sisters of Christian Charity Sponsored Ministries, Inc.
1,086 total jobs will be retained with an annual payroll of over $63.3 million at Holy Family Memorial.
Franciscan Sisters of Christian Charity Sponsored Ministries employs approximately 1,150 full-time equivalents in Northeastern Wisconsin.
Bond financing facilitated by WHEFA will help Franciscan Sisters of Christian Charity Sponsored Ministries finance the acquisition and implementation of hardware and software associated with the replacement of the electronic health records system utilized at Holy Family Memorial and its healthcare facilities located in Manitowoc and Two Rivers. This tax exempt financing process has enabled the borrower to operate more effectively by financing its capital expenses at a lower interest rate (initially 0.89%).
WHEFA is proud to have been able to assist Franciscan Sisters of Christian Charity Sponsored Ministries by reducing their overall debt service and allowing them to grow and compete by providing access to low cost private capital.
For more information visit our website at www.whefa.com or please contact:
Dennis P. Reilly | Executive Director | p: 262.792.0466 | e: info@whefa.com
About WHEFA
WHEFA’s mission is to assist all eligible Wisconsin non-profit institutions to obtain and maintain access to tax-exempt financing in order to finance or refinance their capital improvement and expansion needs. Since inception, WHEFA has provided several hundred Wisconsin non-profit corporations access to private and public capital markets at lower costs than are available to them in the conventional marketplace.
Pursuant to Section 231.10 of the Wisconsin Statutes, bonds issued by WHEFA are not considered indebtedness of the State of Wisconsin, and the State has no obligation to repay any bonds issued by WHEFA under any circumstances. Additionally, WHEFA does not utilize any State moneys to fund its operations.
