Main Line Health is planning several capital projects including purchasing a medical office building in Newtown Square and renovating an ambulatory health center at the Lawrence Park Shopping Center in Broomall, writes John George for Philadelphia Business Journal.

Money will come from the sale of $214 million in tax-exempt hospital bonds.

“With long-term interest rates declining over the past eight months to all-time lows, Main Line Health felt it was advantageous to take advantage of the market opportunity, ” said Mike Buongiorno, executive vice president and chief financial officer.

The funds will also relocate and expand Bryn Mawr Hospital’s in-patient behavioral health unit, upgrade the Lankenau Catheterization ab, install EPIC medical records software and refinance existing debt.

Since 2007, Main Line Health has leased a building at Ellis Preserve close to Rts. 252 and 3 to operate a an ambulatory health center.  Purchasing the center will create significant savings over leasing.

The Lawrence Park Shopping Center health center will be expanded by  83,141 square feet.

The Bryn Mawr Hospital unit will have another 20 beds added and a third cath lab will be created at Lankenau.

Read more about Main Line Health expansion plans at Philadelphia Business Journal.

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