The Wichita City Council will consider on Tuesday almost a billion dollars in industrial revenue bonds to finance Ascension’s acquisition of Via Christi Health.
The bond issue request, not to exceed $888 million, will allow Ascension to acquire the remaining 50 percent of the health care system from Marian Health. According to city documents, Ascension is acquiring multiple facilities from Marian in Kansas, Oklahoma and Wisconsin and intends to refinance all the debt – including several city IRB issues for Via Christi – from those facilities.
Half of the proposed bond issue, $444 million, is targeted to redeem or otherwise retire all of the outstanding Wichita bonds issued for Via Christi’s Wichita facilities.
Ascension acquired 100 percent ownership of Via Christi Health System on April 1.
The health system operates and manages seven hospitals, a rehabilitation center, 11 senior care facilities and several physician practices in three states.
In addition to its hospitals on St. Francis and Harry in Wichita, Via Christi owns the rehabilitation hospital on North Rock Road, the hospital on St. Teresa on West 21st Street and three other retirement communities.