September 10, 2015
WHEFA Bond Financing Helps Stoughton Hospital Association Expand and Renovate in Stoughton
“WHEFA partnered with us every step of the way in delivering a cost-effective financing plan supporting our mission of “Trusted Care. Close to Home.” It was a pleasure working with the experienced, customer focused WHEFA team.”
– Karen M. Myers,
Senior VP Financial Services / CFO
Stoughton Hospital Association
Bond financing facilitated by WHEFA will be used to help Stoughton Hospital Association finance the renovation, remodeling, expansion and equipping of the emergency room, urgent care area, day surgery area, lab and certain other capital improvements at the hospital. This federally tax exempt financing process has enabled the borrower to operate more effectively by financing its capital expenses at a lower interest rate (initially 3.47%).
Stoughton Hospital, incorporated in 1924 as a Wisconsin nonstock, nonprofit corporation, owns and operates an acute care critical access hospital in the City of Stoughton, Wisconsin with 22-staffed medical surgical/ICU beds and 10-staffed geriatric psychiatry beds. Stoughton Hospital occupies an approximate 7-acre campus, comprising 4 contiguous buildings and a separate health center building.
WHEFA is proud to have been able to assist Stoughton Hospital Association by reducing their overall debt service and allowing them to grow and compete by providing access to low cost private capital.