BayCare Health System to benefit from $1.9 billion in tax free bonds.

BayCare is gearing up to receive $1.9 billion in tax-free bonds, to be issued by the Hillsborough County Industrial Development Authority.  It is the largest bond amount in its 45-year history.

They intend to use the funds to renovate hospitals such as South Florida Baptist in Plant City and the new St. Joseph’s Children’s Hospital. New projects to be funded with this money are a 154-bed hospital in Palmetto, an 86-bed facility at BayCare Hospital of Wesley Chapel, and a 90-bed patient tower at St. Anthony’s Hospital in ST. Petersburg. The Palmetto Hospital is set to open in 2027 and will be the only not-for-profit hospital in Manatee County.

The funds will also go toward paying off other loans and renovating existing facilities like Bartow Regional Medical Center and St. Joseph’s. They also plan to build new emergency rooms in places like Lakeland, Riverview, and Bradenton.