The University of Texas Medical Branch at Galveston would be restored to its pre-Hurricane Ike capacity of 550 patient beds under a $713 million recovery plan approved last week by UT regents.

The action reverses an earlier plan to shift all the hospital beds from Galveston to a mainland facility, closer to Houston. The regents had earlier eliminated 3,800 jobs at the facility, which is the largest employer on Galveston Island.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.