Fueled by strong bond ratings, Sarasota Memorial Health Care System is moving full speed ahead on more than $1 billion in capital projects that it says will greatly expand and enhance the southwest Florida community’s access to five-star care.
Sarasota Memorial Health Care System (SMH) recently began laying deep foundations at its new, $507 million hospital in North Port, and has several other expansion projects under way, including an $82.5 million inpatient rehabilitation facility at its SMH-Venice campus and more than $50 million in radiology upgrades and expansions in Sarasota and Venice.
The capital projects are supported by strong and upgraded bond ratings from Moody’s Investors Service and Fitch Ratings. Similar to an individual’s credit score, strong bond ratings significantly lower the health system’s cost of borrowing for major capital improvements…