$28,195,000 WHEFA bond financing helps Fort HealthCare, Inc. refinance in Fort Atkinson
Wisconsin Health & Educational Facilities Authority
NEWS ADVISORY
$28,195,000 WHEFA bond financing helps Fort HealthCare, Inc. refinance in Fort Atkinson
“WHEFA’s assistance in assembling a high quality financing team greatly helps organizations like Fort HealthCare efficiently access funds necessary to continue our mission and vision.”
– James Nelson, Senior VP – Finance and Strategic Development / CFO Fort HealthCare, Inc.
Fort HealthCare employs approximately 680 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA was used to help Fort HealthCare refinance bonds previously issued by WHEFA in 2004. The net present value savings following the refunding is approximately $6.76 million. This federally tax exempt financing process has enabled the borrower to operate more effectively by refinancing its capital expenses at lower interest rates (4.00 – 5.00%).
Fort HealthCare presently owns and operates Fort Memorial Hospital, an 82-staffed bed, general acute care hospital located on a 6.5 acre site in Fort Atkinson, Wisconsin. Fort HealthCare is also the sole shareholder of a Fort Medical Group consisting of 40 physicians.
WHEFA is proud to have been able to assist Fort HealthCare by reducing their overall debt service and allowing them to grow and compete by providing access to low cost capital.
For more information visit our website at www.whefa.com or please contact:
Dennis Reilly | Executive Director
p: 262.792.0466 | e: info@whefa.com
About WHEFA
For over 35 years WHEFA has been quietly fulfilling its mission of assisting Wisconsin’s nonprofit institutions to obtain access to low-cost capital in order to finance their building and equipment improvement and expansion needs. During this time, WHEFA has issued over $20 billion of federally tax-exempt bonds to provide several hundred Wisconsin nonprofit 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.
www.whefa.com |18000 West Sarah Lane, Suite 300, Brookfield, WI 53045 | 262.792.0466
