HSN receives $57.9M to pay off deficit

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.