Baptist building bonds issued

Press release: Baptist Health Care achieved another milestone in the journey to build the community’s new full-scale health campus that will be located at the intersection of Brent Lane and I-110. The locally-owned, not-for-profit health care system has secured financing for the project, successfully closing the public financing transaction on February 12.

The Series 2020 bonds were issued through the Escambia County Health Facilities Authority and publicly marketed on January 28, 2020. Proceeds from the bonds will be utilized to fund part of the cost of the flagship replacement campus and refinance existing debt of the organization. Originally estimated at the price tag of $550 million, the cost of the project is now expected to be $615 million following more detailed design and planning.

Baptist previously announced the selection of the world-class project team that will be partnering in this major community investment. Gresham Smith will serve as architect. Meadows & Ohly will serve as project manager. Brasfield & Gorrie will serve as general contractor, and Smith Seckman Reid will serve as the medical equipment and technology planner.

“We have assembled the best of the best in health care design and construction,” said Mark Faulkner, Baptist Health Care president and CEO. “This new medical campus is a significant investment in the greater Pensacola area for decades to come. Our community can have full confidence that we have carefully and deliberately selected a nationally-recognized team of experts in health care design and construction. And we are firmly committed to engaging local and minority contractors and vendors in this project.  We are building a campus that our community is going to be very proud of.”

Now, through Brasfield & Gorrie, local and minority specialty trade contractors, vendors and suppliers are invited to express interest in participating in the project. Businesses that are interested in submitting their company information for consideration in this major development are encouraged to contact Eric Gunn at egunn@brasfieldgorrie.com and Kathy McNutt at kmcnutt@brasfieldgorrie.com. An informational meeting with interested parties is planned for the afternoon of March 12.  More details will be forthcoming and promoted widely.

The next steps in the project include continued schematic and detailed design development, required regulatory filings and continued engagement with the community. Baptist leaders already have hosted several meetings of a community advisory council to engage a cross-section of stakeholders to understand how to best serve the needs of the community well into the future.

A groundbreaking ceremony is planned for summer 2020. The new health campus will provide a central location for clinical care, programs and services that will be easier for patients to access via the I-110 corridor. Equipped with innovative technologies for diagnosis and treatment along with a concentration of related services, the campus will provide a more modern approach to patient experience, wellness and care. The new campus is expected to open in summer 2023.

More information about this project is available at eBaptistHealthCare.org.

Share: