February 25th, 2013

Mayo, a financial powerhouse, is poised to propel expansion

By Logan Lafferty

Mayo Clinic wants to invest billions of dollars of its own money in a project aimed at bolstering the medical center's position as a world destination for health care. The clinic is now trying to line up state subsidies and private investors to round out financing for what would be a grand expansion. ..The clinic's success in attracting such donations is one reason Mayo looks like a very good bet to make good on its promise to kick in $3.5 billion over 20 years to fund its latest expansion.?..."I don't think it's any stretch at all, within our current financial strength," said Pat McCarty, Mayo's vice chair of financial planning and analysis.

 

MPR by Martin Moylan

Tags: Expansion, Finanical, investment, MPR, Pat McCarty, state subsidies

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