MassDevelopment has issued a $50 million tax-exempt bond and $20 million tax-exempt lease on behalf of Hallmark Health System Inc.

Hallmark will use lease proceeds to buy and install medical and surgical equipment; patient-monitoring systems; computer equipment; and furnishings and fixtures. The organization will use bond proceeds to refund previous debt. TD Bank purchased the bond. Bank of America Public Capital Corp. purchased the lease.

Hallmark is a nonprofit health care system that includes Lawrence Memorial Hospital of Medford, Melrose-Wakefield Hospital in Melrose, Hallmark Health Medical Center in Reading, and a Hematology and Oncology Center in Stoneham.

"MassDevelopment’s tax-exempt bonds and leases offer healthcare providers a flexible way to acquire the latest in life-saving equipment," MassDevelopment President and CEO Marty Jones said in a statement. "This financing package will help Hallmark Health System build upon its quality care and save precious dollars, which can then be devoted to the hospital’s patients."