California gave Adventist Health the green light in issuing up to $1 billion in bonds to upgrade its record system and refinance debt. At the same time, Valley Children’s will get more than $11 million in grant money for new equipment and renovation costs.

The California Health Facilities Financing Authority approves special financing for hospitals throughout the state.

At the July 31 meeting, the authority, chaired by State Treasurer Fiona Ma, approved Adventist Health System/West’s bond plan.

“Today’s approvals reflect our continued commitment to ensuring California’s healthcare institutions have the financial tools they need to authorize,” Ma said. “From cutting-edge health records to life-saving pediatric care and advanced imaging technologies, these investments will help improve health care access, quality, and outcomes for all Californians.”

Requests for comment to Adventist Health and Valley Children’s were not immediately returned.

Bonds Will Help Adventist Transition Health Records, Refinance Debt

The bonds will help the Adventist Health system transition to the Epic Electronic Health Record system. The hospital announced in August 2024 that the software change for their 440 clinics and 28 hospitals would increase patient safety and streamline workflows. CEO Kerry Heinrich said in a LinkedIn post the transition would be complete by summer 2026.

The Epic system helps coordinate patient records, making it easier to access lab results, refill medications, make appointments, and more, according to CBS News.

The bond financing would also help the hospital pay back bonds issued in 2013 and 2016.

For Valley Children’s, the $11.2 million will help reimburse the hospital for equipment purchases and renovations at the hospital. Surgical operating room tools, transportable neonatal incubators, infusion pumps, ultrasound machines, and an air handler unit would all eligible under the grant.