Erlanger Health System on Monday sought the issuance of up to $350 million to $370 million in debt to refinance earlier borrowing and fund future expansions, including at Erlanger East.
Chattanooga’s biggest hospital, with nearly 6,000 employees and contractors that became a private nonprofit entity last year, also is looking at expanding Erlanger facilities in Cleveland, Tennessee, and Murphy, North Carolina, officials said at a meeting of the city’s Health, Educational and Housing Facility Board.
The panel approved a resolution to authorize the issuance of bonds.
Jeffrey Woodard, Erlanger’s senior vice president and chief legal officer, said in an interview after the meeting the move to use the panel was enabled by the hospital system’s shift to private, nonprofit status.
(READ MORE: Erlanger transition clears hurdle)