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Witham planning bond sale to acquire Anson site

January 6, 2010

Witham Health Services wants Boone County officials to support a $35 million bond issue that the Lebanon-based hospital said could save it millions in interest payments, according to the Lebanon Reporter.

Witham wants to use about $21 million to refinance a 95,000-square-foot medical office building in Lebanon that it opened in September. Interest rates on bonds are lower now than when Witham began that project in mid-2007.

Witham would use the rest of the money, about $15 million, to purchase land in the Anson development near Zionsville, on which Witham opened a free-standing emergency room in October.

The 43,000-square-foot structure features cutting-edge imaging equipment for open-sided magnetic-resonance imaging exams and high-resolution CT scans. It also includes office space for family and specialist physicians.

The final amount of the bond issue will depend on the interest rate when the 20-year bonds are sold, according to the newspaper.

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