New Jersey officials yesterday approved a $169 million bond deal for Solaris Health System that will benefit from the state's appropriation pledge as the transaction falls under New Jersey's Hospital Asset Transformation Program.

That program aims to reduce the number of unused hospital beds, with qualified hospitals gaining the state's appropriation pledge if one entity takes over the debt of another due to the closing of an acute-care facility, although the acquiring health care providers continue paying debt service costs.

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