Illinois Finance Authority Board members on Tuesday unanimously approved $140 million in conduit bonds for Springfield-based health care provider Memorial Health System.
The hospital network intends to use proceeds of the bonds to finance the redevelopment of its Memorial Medical Center in Springfield, according to the IFA Board’s meeting agenda. Under the redevelopment plan, the hospital plans to add a 115,000-gross-square-foot, three-level patient tower with 114 private beds and a 34,400-square-foot, two-level structure with six new operating rooms.