Christus Health, Irving, Texas, said it settled an Internal Revenue Service audit of $411 million in acquisition financing bonds and won't be required to restructure its debt or pay a penalty under the settlement. The 23-hospital system is the last to settle among seven systems publicly known to have their acquisition financing bonds under IRS review. However, the IRS still is reviewing deals by a handful of other hospitals and systems that came forward voluntarily, industry sources said. The IRS began its audit of Christus bonds in May 2000. The bonds were issued in 1999. -- by Mary Chris Jaklevic
Texas system settles IRS audit without penalty
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