IRON MOUNTAIN, MI-- The Dickinson County Board of Commissioners has approved a resolution for Dickinson County Healthcare System to pursue a bond offering.
DCH is looking to raise $32 million. The money will be used to refinance about $15 million in outstanding debt. The remainder will go toward the purchase of equipment and upgrades to the physical plant.
Equipment DCH intends to buy includes a Linear Accelerator, a Magnetic Resonance Imaging unit, and a CT scanner.
“Although the USDA loan was DCH’s initial option, the USDA projected timeline to receive the loan dollars would not be realized until 2021, at the earliest. A bond offering allows us to restructure our debt and to provide new technology and equipment to remain a relevant resource for the community for years to come,” says Chuck Nelson, DCH President and CEO. “We are thankful to the County Board for their help and support.”
The County Board was unanimous in its support.
