WADENA, MINN. — Ziegler has provided a bond issue totaling $20.5 million for the Wadena Cancer Center in Wadena, a city in central Minnesota. The Wadena Cancer Center is jointly operated by Astera Health CentraCare Health and is located on Astera Health’s main campus. In collaboration with CentraCare Health System, Astera Health has entered into a joint venture to establish the Central Minnesota Cancer Center LLC. This initiative aims to address the critical need for comprehensive oncology services in the region.
The proceeds of the bond issue will be used to finance the construction and equipping of the 15,350-square-foot cancer center, which will include six clinic exam rooms and eight infusion bays. The facility will provide a full spectrum of cancer care services, including medical and radiation oncology visits, chemotherapy, infusion, radiation treatments and diagnostic imaging.
Ziegler utilized a unique financing structure to fund the project through its relationship with a nonprofit entity, National Healthcare, Research and Education Finance Corp. (NHREFCO). NHREFCO works to support the charitable and educational purposes of hospitals, academic medical centers and medical research organizations by acting as the borrower for bond transaction and lessor to the tenant through a long-term assumable lease.