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Cincinnati Children’s Hospital Medical Center has issued approximately $450 million in bonds to finance major construction and renovation projects. The funding will support a $365 million expansion of its Liberty Township campus and improvements at its main Avondale campus. The hospital also plans approximately $1.4 billion in capital expenditures through 2030. The Liberty expansion is expected to add 72 inpatient beds and create at least 250 jobs over five years.
Cincinnati Children’s Hospital Medical Center has secured approximately $450 million through bond financing to support major construction and renovation projects.
The investment is part of a broader $1.4 billion capital expenditure plan that the hospital expects to pursue through 2030.
The financing will support projects at the hospital’s Liberty Township campus in Butler County and its main campus in Cincinnati’s Avondale neighborhood. The projects aim to expand patient capacity, modernize facilities and improve access to specialized pediatric healthcare.
$450 million in bonds will fund hospital improvements
Cincinnati Children’s finalized its bond financing on Oct. 28, 2026, issuing two revenue bonds totaling approximately $450 million.
The hospital issued approximately $297.6 million in fixed-rate revenue bonds and $150 million in variable-rate revenue bonds through the Hamilton County Hospital Commission.
Of the proceeds, approximately $50 million will go toward paying down existing debt. The remaining $400 million will help finance new construction and renovation projects.
Cincinnati Children’s plans to cover additional expenses through operating cash flow and philanthropic contributions.
Liberty Township expansion includes 72 additional beds
One of the largest projects involves a $365 million expansion of Cincinnati Children’s Liberty Campus in Butler County.
The expansion will add 72 inpatient beds, increasing the campus’s capacity from 42 to 114 beds. It will also include four new operating rooms, three surgical procedure rooms and 10 additional emergency department rooms.
A separate four-story medical office building will accommodate outpatient specialty clinics. The hospital announced the expansion in January 2025 to improve healthcare access for children and families in Butler and surrounding counties.
The project also includes renovations covering more than 100,000 square feet of existing hospital space. These improvements will expand imaging services, pharmacy operations, laboratory facilities and other clinical areas.
The medical office building is scheduled for completion in 2027. The hospital addition is targeted for completion in summer 2028, while renovations are expected to finish in summer 2029.
Avondale campus also scheduled for renovations
Cincinnati Children’s is also directing part of its investment toward improvements at its main campus in Avondale.
Two renovation projects at the Cincinnati campus carry a combined estimated cost of approximately $38.6 million.
The improvements are part of the hospital’s broader effort to modernize its facilities and accommodate growing healthcare needs.
The bond financing will help support these projects alongside the larger Liberty Township expansion.
Expansion expected to create hundreds of jobs
The Liberty Campus expansion is expected to create at least 250 new jobs over five years, according to Cincinnati Children’s.
The hospital previously reported that more than 1,025 employees worked at the Liberty Campus when it announced the expansion in January 2025.
The project also responds to increased demand for pediatric healthcare services in the region. Liberty Campus recorded more than 282,000 patient encounters annually, compared with approximately 109,000 during its first year of operation.
By expanding inpatient capacity and surgical facilities, Cincinnati Children’s expects to serve more families closer to their homes. The additional capacity could also help reduce the need for some patients to travel to the main Avondale campus for care.
Cincinnati Children’s outlines $1.4 billion investment pipeline
The $450 million bond issuance represents part of Cincinnati Children’s longer-term capital investment strategy.
The hospital plans approximately $1.4 billion in capital expenditures through 2030. The investment pipeline reflects its plans to expand healthcare facilities, upgrade existing infrastructure and support future patient needs.
The projects will strengthen the hospital’s presence in Greater Cincinnati while supporting healthcare access and employment opportunities across the region.
With construction and renovation projects planned at multiple campuses, Cincinnati Children’s is positioning its facilities for continued growth over the coming years.
FAQs
Why is Cincinnati Children’s raising $450 million?
Cincinnati Children’s issued approximately $450 million in revenue bonds to finance construction and renovation projects at its Liberty Township and Avondale campuses. Part of the proceeds will also pay down existing debt.
How much does Cincinnati Children’s plan to invest through 2030?
Cincinnati Children’s has outlined approximately $1.4 billion in capital expenditures through 2030. The investment will support facility expansions, renovations and healthcare infrastructure improvements.
How much of the $450 million bond financing will go toward construction?
Approximately $400 million of the bond proceeds will support new construction and renovation projects. The remaining $50 million will be used to pay down existing debt.
