NEW ORLEANS, LA (WVUE) - A $250 million project will expand Ochsner facilities in the New Orleans area.
The Ochsner Health System announced expansion plans Wednesday, which include adding six floors to its eight-story hospital on Jefferson Highway.
The project will bring the hospital's capacity from around 500 patients to 700. Other projects include expanding a cancer center and turning its hospital in Elmwood into a specialty surgery center.
Ochsner will finance the projects with a bond sale. "The ratings improvements recently reported by Moody's Investors Services and Fitch Ratings reflect external validation of our organizational stability," Ochsner Health System President and CEO Warner Thomas said. "Our successful implementation of a number of initiatives designed to serve more and new patients, including the successful execution of a regional growth strategy, are key drivers of improved performance and strong revenue growth."
All of the expansion projects should be completed by the end of 2018.