Regional Health/Astria Health System
Application Acceptance: July 20, 2018. Please note all information provided below is as of the date of the application submission.
Obligor: The Astria Health System, headquartered in the heart of Yakima Valley is the parent nonprofit organization of Astria Sunnyside Hospital, Astria Regional Medical Center and Astria Toppenish Hospital. Operations consist of three hospitals and multiple clinics providing full service primary and specialty care on both an inpatient and outpatient basis.
Loan Size: $5,000,000
Description of Loan: Proceeds of the loan will be used to refinance a $5,000,000 taxable loan with GE HFS, LLC that funded on 6/29/18 and was used to buyout and take ownership of the equipment on 19 existing leases inherited in the acquisition of Yakima Regional and Toppenish Hospitals. Proceeds were also used to purchase a new CT scanner and a new Cardiovascular Ultrasound. In addition, approximately $975,000 was placed in escrow for the purchase of a PACS (picture archiving and communication system) interface, additional ultrasounds and equipment.
Interest Cost Savings: It is anticipated by Astria that they will save approximately $142,743 in interest costs over a taxable interest rate financing over the term of the loan. Savings will be used to invest in additional equipment that will clinically benefit the community.
Purchaser: GE Government Finance, Inc.
Closing Date: TBD