Screen grab via Valley Children's video

The California Health Facilities Financing Authority (CHFFA) announced Monday that State Treasurer Fiona Ma has approved key funding to support investments in infrastructure and equipment at health care institutions across the state, including Valley Children’s Hospital and Adventist Health System.

The funding, which will support reimbursement of equipment purchases and corresponding renovation, reflects the state’s continued dedication to the modernization and efficiency of health care operations, according to a CHFFA news release.

Valley Children’s Hospital is eligible for a grant allocation of more than $11 million under the Children’s Hospital Program of 2018, according to the release.

The funding comes from the proceeds of bond sales authorized by voters in 2018.

In addition to approvals for Valley Children’s Hospital, Adventist Health System/West received approval to issue tax-exempt bonds through the CHFFA’s Bond Financing Program. The bonds, which are not to exceed $1 billion, will fund the installation of a new enterprise-wide electronic health record system. It will also seek to refinance outstanding debt.

“Today’s approvals reflect our continued commitment to ensuring California’s healthcare institutions have the financial tools they need to modernize,” said Treasurer Fiona Ma. “From cutting-edge digital health records to life-saving pediatric care and advanced imaging technologies, these investments will help improve health care access, quality, and outcomes for all Californians.”

Equipment covered by the investment includes, but is not limited to surgical operating room tools, mobile neonatal incubators, infusion pumps, ultrasound machines and an air handler unit.

The funding was approved during CHFFA’s July 31 board meeting. The authority finances both public and nonprofit health care facilities with a goal of improving health care infrastructure throughout the state.