Olympic Medical Center to Take Out Loan for $9M Outpatient Surgery Center

Olympic Medical Center is considering taking out a $20 million loan to finance an expansion project that includes a $9 million outpatient surgery center in Sequim, Wash., according to a peninsuladailynews.com report.

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The medical center initially announced plans to seek approval for the surgery center project in August.

The medical center has $2.6 million in next year’s budget allocated for the design of the 22,500-square-foot surgery center.

The project also includes the expansion of the medical center’s emergency room and a 27,500-square-foot medical office building.

The $20 million, 25-year loan is expected to be paid back at a fixed rate for the first 10 years. The interest rate is currently 3.65 percent.

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