TEFRA Notices

NOTICE OF PUBLIC HEARING
NEW JERSEY HEALTH CARE FACILITIES
FINANCING AUTHORITY

  

The New Jersey Health Care Facilities Financing Authority (the “Authority”) will hold a public hearing at its regular meeting on Thursday, April 23, 2026 at 10:00 a.m. at its offices at Station Plaza, Building No. 4, 22 South Clinton Avenue, Trenton, New Jersey for the purpose of providing a reasonable opportunity for interested persons to express their views regarding a plan of finance pursuant to which the Authority may issue one or more series of its tax-exempt qualified 501(c)(3) bonds (the “Bonds”) for the benefit of the Borrower identified below to finance the Projects more fully described below.

 

Interested persons who wish to provide information and make comments regarding the proposed issuance of the Bonds may appear in person or by attorney at the public hearing or participate in the public hearing virtually at https://www.nj.gov/njhcffa/meeting/virtual.html.  Interested persons may also submit written information and comments to the Authority regarding the proposed issuance of the Bonds by sending such written information and comments to the New Jersey Health Care Facilities Financing Authority, P.O. Box 366, Trenton, NJ 08625-0366 or emailing such information and comments to TEFRAcomments@njhcffa.com.  Any such written information and comments must be received by the Authority by no later than 9:00 a.m. on April 22, 2026.

 

Borrower:
Inspira Medical Centers, Inc., a New Jersey nonprofit corporation

 

Project Locations:
Inspira Medical Center Mullica Hill
700 Mullica Hill Road
Mullica Hill, Gloucester County, New Jersey

Inspira Medical Center Vineland
1505 West Sherman Avenue
Vineland, Cumberland County, New Jersey

Inspira Health Center Bridgeton
333 Irving Avenue
Bridgeton, Cumberland County, New Jersey 

Inspira Health Center Woodbury
509 North Broad Street
Woodbury, Gloucester County, New Jersey

 

Project Descriptions:
To provide funds through the issuance, in one or more series, of the Bonds in an aggregate principal amount of not exceeding $390,000,000, which will be used by the Borrower, together with other available moneys, if any, to:

  1. reimburse the Borrower for the costs of the planning, design, development, acquisition, construction, equipping, expansion, furnishing and/or renovation of one or more of the following capital projects at one or more of the Project Locations described above, including but not limited to:
    1. at Inspira Medical Center Mullica Hill, operating room enhancements, including new clinical equipment, reconfiguration of the operating rooms and other clinical areas, and other improvements, relocations and/or other modifications and appurtenances necessary therefor or related thereto;
    2. at Inspira Medical Center Vineland, operating room enhancements including new DaVinci robots and other related equipment, roofing improvements, internal hallway configuration and communication and technology improvements, as well as reconfigurations in other clinical areas and other improvements, relocations and/or other modifications and appurtenances necessary therefor or related thereto;
    3. at Inspira Health Center Bridgeton, the acquisition and installation of HVAC equipment and all construction and design costs necessary therefor or related thereto;
    4. at Inspira Health Center Woodbury, routine capital expenditures and equipment acquisition and other improvements, relocations and/or other modifications and appurtenances necessary therefor or related thereto; and
    5. all infrastructure improvements, relocations and modifications and all other work, materials, equipment and appurtenances necessary therefor or related to all of the projects described in clauses (A) through (D) above; and
  2. refund, redeem, retire and/or legally defease all or a portion of one and/or both series of the following currently outstanding bonds (the “Refunded Bonds”) issued by the Authority: (i) Refunding Bonds, Inspira Health Obligated Group Issue, Series 2016A, and (ii) Revenue Bonds, Inspira Health Obligated Group Issue, Series 2017A; and
  3. fund capitalized interest on all or a portion of the Bonds; and
  4. fund a debt service reserve fund for the Bonds, if necessary, and
  5. pay all or a portion of the costs of the issuance and sale of the Bonds.

    The proceeds of the Refunded Bonds were used by the Borrower primarily to provide funds for the financing and/or refinancing of various capital projects of the Borrower and its predecessor entities, which projects encompassed the acquisition, construction, reconstruction, equipping, renovating and repairing major portions of acute care hospitals, other health care related facilities and other facilities located at the Project Locations described above and other locations from time to time over the prior 25 years.

 

Maximum Principal Amount of the Bonds
 $390,000,000

 

            THIS FINANCING OF THE NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY IS NOT AN OBLIGATION OF THE STATE OF NEW JERSEY, NOR ANY COUNTY OR MUNICIPALITY THEREOF, EXCEPT THE AUTHORITY.

            This notice is published in accordance with the public notice requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, and regulations promulgated thereunder, as modified by Internal Revenue Service Revenue Procedures 2022-20.