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Deaconess proposes bringing Jenny Stewart debt under system trust; court questions employee leave and medical-record access
Summary
Deaconess representatives told Christian County Fiscal Court they plan to put Jenny Stewart debt under Deaconess’ master trust indenture to place bonds on parity; magistrates pressed officials about employees’ accrued-leave payouts and gaps in medical-history access after an October IT transition.
Deaconess Health System told the Christian County Fiscal Court that it intends to bring Jenny Stewart’s outstanding debt under Deaconess’ Master Trust Indenture so both bond series would stand on parity under the system’s credit umbrella. Cheryl Watson, identified in the meeting as Deaconess’ chief financial officer, said the move would allow bondholders to “look at the entire system’s assets and revenue streams” rather than Jenny Stewart’s assets alone.
The presentation outlined two separate financing series. Court members were told a private placement obtained in 2022 was about $32,000,000, while a 2016 public issue was discussed during the meeting as roughly $62,900,000. Watson…
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