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Piedmont Healthcare puts hold on state-of-art facility in Newnan, GA

Atlanta Journal-Constitution, December 19, 2008

Piedmont Healthcare is suspending its $194 million project to build a state-of-the-art hospital in Newnan, GA. Piedmont officials blamed the "current instability of the debt market" in its decision to pause the project for the next few months. "We had planned to go to the bond market to finance most of the project, and there's just not a market out there now," Piedmont spokeswoman Nina Montanaro said. Financing the hospital now "would cost us millions more," she said.