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Impacting our Community

Tanner Health System is a nonprofit healthcare provider. Our mission is to improve the health of the communities we serve — not to generate revenues for shareholders.

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Listing of Hospital Indebtedness

Continued financial stability is critical to Tanner Health System’s ability to fulfill its nonprofit healthcare mission to improve the health of our community. 

In an era where many hospitals are experiencing financial challenges, reducing services or even closing their doors, our system sits in a position of financial strength with a significant record of achievement.

We reinvest our revenues back into improving the health of our communities through expanded facilities, new technologies, additional physicians and caregivers, community outreach and educational programs for our residents.

The debt obligations of Tanner Health System, per our combined financial statements for the years ended June 30, 2018 and 2017, encompass:

• Property and Equipment, including land and buildings under capital lease obligations and the remaining commitment on existing construction contracts.

• Physician Notes Receivable, primarily loans secured by promissory notes to physicians under recruiting arrangements, as well as educational loans to employees.

• Deferred Financing Costs, which is the amortization expense on bond issue costs and loan origination fees for fiscal years 2017 and 2018

• Goodwill and Intangible Assets related to the purchase of a multiple sclerosis infusion therapy service.

• Long-Term Debt obligations of more than one year related to revenue anticipation certificates issued by the Carroll City-County Hospital Authority for projects that include:

  • (Series 2008) A new 58,858-square-foot, one-story patient care addition to Tanner Medical Center/Villa Rica and renovation and equipment for cardiovascular services at Tanner Medical Center/Carrollton.
  • (Series 2010) Additions and improvements to Tanner Medical Center.
  • (Series 2015) Facility and central energy plan improvements and the new health pavilion facilities at Tanner Medical Center/Carrollton.
  • (Series 2016 and 2016 B) Refunding the outstanding 2008 series and outstanding 2010 series certificates, respectively.
And in September 2017, Tanner Medical Center entered into a promissory note with United Community Bank to obtain working capital with a maturity date of Oct. 1, 2020.

We are pleased to share the relevant detail from the combined financial statements for the years ended June 30, 2018 and 2017. Please see pages 28-31 of our audit statement for our listing of hospital indebtedness.


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