Vanderbilt University Medical Center asked the Health and Educational Facilities Board for — and received — final approval to issue up to $650,000,000 in taxable revenue bonds to finance the purchase of the Tenova Gateway assets in Clarksville and surrounding counties.

"Our purpose today is to ask for approval to issue up to $650,000,000 in taxable revenue bonds to purchase the Tenova Gateway assets in Clarksville and surrounding counties," said Dwight Sealy, who identified himself as representing finance and treasury for VMC. He and Matt Scanlon, who oversees government and community affairs for VMC, told the board the bonds would be sold to RBC and are structured as bridge financing that will mature in six months.

The hospital system said it currently holds a 20% minority interest in the Tenova Gateway assets and plans to acquire the remaining 80%, a portfolio that VMC described as including a 270‑bed hospital, inpatient and outpatient rehab, a freestanding emergency department and several clinics and physician practices in Clarksville, Dover and Pleasant View. Sealy said the acquisition is intended to align those facilities with VMC standards and expand VMC's ability to serve patients across Middle Tennessee.

Board members pressed for details about service changes and the financing timetable. Sealy said the plan is to operate the facilities at levels "equivalent to our other regional facilities," then return to the board in the spring to refinance the bridge into a permanent structure. He said the transaction was expected to close on Jan. 1, pending regulatory approvals.

The board moved, seconded and approved the final issuance request by voice vote.

What this means: VMC's purchase would broaden its regional footprint; officials said they expect to maintain or expand services while bringing standards and operations in line with the medical center's other regional facilities. The financing as approved is short‑term bridge debt, with a plan to replace it with long‑term financing after regulatory steps and local consents in the affected counties.

Next steps: VMC said it will complete required county consents outside Davidson County and seek necessary regulatory approvals; the board's approval clears the bond issuance request but closing remains contingent on those approvals and on the refinancing strategy the system will present in the spring.