Catholic Healthcare West, which operates 42 hospitals across California, Arizona and Nevada, has set plans to spend $9 billion on capital projects over the next 10 years. CHW plans to use the money to build new hospitals, add seismic improvements to hospitals in earthquake zones, add health information technology and buy new clinical equipment, as well as making acquisitions where it makes sense. This plan, which would allocate $900 million for each year, represents a big jump in spending for CHW, which invested only $593 million on capital projects during the last fiscal year. About $700 million of this year's capital spending will come from a pending $1.13 billion bond issue. The chain's new investment plans come as part of substantial turnaround for CHW, which was doing badly five years ago but has since returned to profitability.
To learn more about CHW's plans:
- read this San Francisco Business Times article