January 29, 2013
EMMC to sell $150M in bonds for expansion
Eastern Maine Medical Center plans to sell around $150 million in bonds to support the first phase of an expansion to add 65 beds to its Bangor campus.
The Bangor Daily News reported that the bonds will be sold this week through the Maine Health and Higher Education Facilities Authority and are expected to bring in around $160 million, including premium costs.
The hospital network in 2008 received state approval to pursue a $250 million expansion of its inpatient facilities and the organization's board of directors approved the expansion in November 2012.
The project is the largest expansion at EMMC since a $16 million parking garage was built in 2009.
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