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University of Chicago Medicine to borrow lots more

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Part of the University of Chicago Medicine.

Even as other big not-for-profit hospital systems are reducing debt, University of Chicago Medicine plans to borrow more  to finance a  big expansion of its  main Hyde Park campus.

The Chicago Tribune reported: “The medical center has amassed $868 million in long-term debt to modernize its health care facilities and expand to the suburbs. The credit rating agencies were already concerned about the amount of debt before the medical center announced plans Thursday to borrow an additional $200 million to enlarge its emergency room to add trauma services and increase the number of hospital beds by 30 percent.”

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