HomeSudbury News

HSN receives $57.9M to pay off deficit

By: Jonathan Migneault - Sudbury Northern Life

 | May 02, 2014 - 12:15 PM |

Hospital must maintain balanced budgets over three years to receive funding

The provincial government will invest $57.9 million in new funding to Health Sciences North, announced Sudbury MPP Rick Bartolucci Friday.

Bartolucci said the funding is not tied to Thursday's Liberal budget, which is expected to fall without the support of the Progressive Conservatives and NDP.

“This money is flowing from the Ministry of Health through the LHINs (Local Health Integration Networks) over a three year period.”

The funding will help alleviate the hospital's operating deficit, Bartolucci said.

To receive the funding over a three-year period, Health Sciences North will be required to post balanced budgets.

Dr. Denis Roy, Health Sciences North's president and CEO, said he slept very well the night he was told about the new funding.

“It will certainly help our working capital deficit, because we have to pay interest on that amount,” he said.

Only Ontario hospitals that have posted balanced budgets have qualified for similar funding.
Jonathan Migneault

Jonathan Migneault

Staff Writer


Reader's Feedback may contain content submitted by readers, usually in the form of article comments. All reader comments and any opinions, advice, statements or other information contained in any messages posted or transmitted by any third party are the responsibility of the author of that message and not of The fact that a particular message is posted on or transmitted using this web site does not mean that has endorsed that message in any way or verified the accuracy, completeness or usefulness of any message. We encourage visitors to to report any objectionable content by using the "report abuse" link found in the comments section of this web site. Comment Guidelines

comments powered by Disqus

Most Popular

Local Business Directory