Bond proceeds will fund a new patient services tower addition, including expanded pediatric emergency, surgical services, and emergency department spaces
FAYETTEVILLE, N.C. — The Public Finance Authority (PFA) announced today the issuance of Health Care Facilities Revenue Bonds, Series 2026A, in an amount not to exceed $48 million, on behalf of Cumberland County Hospital System, Inc., doing business as Cape Fear Valley Health System (CFVHS), to finance critical capital improvements at Cape Fear Valley Medical Center in Fayetteville, N.C.
Proceeds from the bonds will fund the construction, expansion, renovation, and equipping of a three-story addition to the patient services tower at Cape Fear Valley Medical Center. The project includes the expansion of the pediatric emergency services area to add new exam rooms and a pediatric resuscitation room; the expansion of surgical services to include a new operating room, a new procedure room, new recovery rooms, and a new patient preparation area connecting to existing surgery support spaces and operating rooms; and the renovation and expansion of the current emergency department waiting area. Bond proceeds will also support routine capital improvements and expenditures across the system.
“We’re proud to once again partner with Cape Fear Valley Health System to help expand access to high-quality healthcare in Cumberland County and the surrounding region,” said Bill Kacvinsky, PFA Board Chair. “This project will directly improve emergency, pediatric, and surgical care for the patients and families who rely on Cape Fear Valley Medical Center every day, and it reflects exactly the kind of public benefit PFA was created to support.”
Founded in 1964, Cape Fear Valley Health System is the eighth largest health system in North Carolina and has served Cumberland County and the surrounding region for more than six decades. It operates four acute care hospitals and offers primary and specialty care physician practices, emergency services, a wellness center, and a range of additional healthcare services.
This marks PFA’s fifth financing on behalf of Cape Fear Valley Health System, reflecting a longstanding partnership between the system and the authority in support of healthcare infrastructure throughout North Carolina.
The Project will be located on the campus of Cape Fear Valley Medical Center, at 1638 Owen Drive, Fayetteville, N.C. 28304, in Cumberland County.
The PFA Board of Directors approved the resolution authorizing the issuance of the bonds and all necessary financing documents.