Self Regional cancer center to be expanded
August 5, 2009
By CHRIS TRAINOR /ctrainor@indexjournal.com
On July 21, Greenwood County Council passed second reading on the authorization of $80 million in auction rate hospital facilities revenue bonds on behalf of Self Regional Healthcare.
On Tuesday night, Self Regional president Jim Pfeiffer appeared before council to talk about what a portion of that money will be used for: the expansion of the hospital’s cancer center.
Pfeiffer discussed the proposed $80 million bond issuance, which requires no tax dollars or liability on the county’s part.
“The money that we are going to use from the bond proceeds will be used to expand our cancer center,” Pfeiffer said. “That’s a $23 million project that we are going to be undertaking as a result of these bonds. We have also done work with three new operating rooms. That was about a $7 million project that we are going to use proceeds from this bond to pay ourselves back for, because we used cash for that.
“We will also use it in our radiology department. With the expansion and renovations to our radiology department that have occurred over the last year, the money from these bonds will be used for that.”
Pfeiffer said the cancer center will be “state of the art,” and said he is “extremely excited” about the project.
Kathy McKinney, of Haynesworth, Sinkler and Boyd, said $50 million of the bonds will be used for the above projects and several others described by Pfeiffer. The remaining amount would refund the 2004 “B” bond, if warranted by market conditions.
Third reading on the hospital bond issue will be heard at council’s Aug. 18 meeting.
