Banner Health, Phoenix, approved $449 million in construction projects that will add more than 300 beds to the greater Phoenix area and further expand the system's Colorado operations by 2008. The plan includes $230 million for a six-story, 62-bed pediatric tower and 30 additional beds in the neonatal intensive care unit at 611-bed Banner Desert Medical Center, Mesa, Ariz. It also earmarks $198 million for a 200-bed patient tower and expanded emergency services at 369-bed Banner Thunderbird Medical Center, Glendale, Ariz., and $21 million for a 19-bed emergency department and other renovations at 109-bed McKee Medical Center, Loveland, Colo. Banner previously approved $75 million and $40 million in capital investments at Banner Desert and McKee, respectively. Not-for-profit Banner, which owns or manages 20 hospitals in seven states, said it would finance the project through tax-exempt bonds. The system had operating income of $165 million on revenue of $2.6 billion in fiscal 2004, according to Standard & Poor's. -- by Laura B. Benko
System to invest $449 million in Phoenix-area sites
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