The University of Vermont Medical Center submitted a certificate of need with intention to purchase a Colchester-based medical campus owned by Covenant Health for $17.3 million.
UVM Medical Center, based in Burlington submitted the certificate to the state's Green Mountain Care Board for approval to purchase the 22-acre medical campus it currently leases from Covenant, according to a Jan. 22 news release from the health system. The campus houses medical offices, surgical suites and other facilities.
By purchasing the Fanny Allen Campus, UVM Medical Center expects to save $4 million to $6 million over a 15-year financing period, according to the release.