December 20, 2019
$140,790,000
WHEFA Bond Financing Helps ThedaCare, Inc. Construct in Appleton, Berlin, and Neenah and Refinance
Bonds Underwritten by BofA Securities, Inc. and Wells Fargo Bank, National Association
“As a local, not-for-profit healthcare system, ThedaCare continues to invest in our community and enhance the services we offer to continually meet the changing needs of patients. Strong financial performance and access to tax-exempt financing ensures our ability to advance our mission, and all revenue over expenses is reinvested back into the community for health care programs and services. In 2018 alone, we addressed unmet health needs by providing $60M in unreimbursed services.”
– Mark Thompson,
Chief Financial Officer / Chief Operating Officer
ThedaCare, Inc.
The projects will create approximately 75 permanent jobs. Approximately 200 construction jobs will be created as well. ThedaCare, Inc. employs approximately
7,000 team members in Wisconsin.
Bond financing facilitated by WHEFA will be used to help ThedaCare finance the acquisition, construction, and equipping of an orthopedic, spine and pain hospital, at the future site of ThedaCare’s new Orthopedic, Spine and Pain Center located in Appleton, Wisconsin. Proceeds of the bond financing may also be used to finance other projects at ThedaCare Medical Center – Berlin, ThedaCare Regional Medical Center-Appleton and ThedaCare Regional Medical Center-Neenah. Bond proceeds were also used to refinance bonds previously issued by WHEFA. This federally tax-exempt financing process has enabled ThedaCare to operate more effectively by financing and refinancing its capital expenses at low interest rates (all-in true interest cost of 3.36%).
WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit institutions to obtain and maintain access to tax-exempt financing in order to finance or refinance their capital improvement and expansion needs.
