Guam Memorial Hospital to Receive $45M Next Week But Will Seek $125M More

Guam - Governor Eddie Calvo and members of the Hospital Management Advisory Team met with GMH employees today to deliver what they’re touting as good news. Come next week, the hospital will be receiving $45 million to finally pay off its debt.

Guam Memorial Hospital employees seemed enthusiastic after receiving some news from the governor.

"We got $45 million now to pay off all debt for the hospital and also to have additional working capital for which I believe for the next year and half, hopefully two years if you can stretch it out, of these funds for the operations of the hospital," says Governor Calvo.

The governor and members of the Hospital Management Advisory Team delivered the news, assuring their commitment to the hospital that was once on the brink of collapse. The $45 million in funds is the result of bond borrowing through restructuring of debt. Governor Calvo underscored the importance of floating these bonds at a time when rates are at a record low. And also during a time of skepticism over Puerto Rico’s debt crisis.

Read more: http://www.pacificnewscenter.com/local/10461