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Lahey Hospital & Medical Center Builds Cogeneration Power Plant With $130M MassDevelopment Bond

Jun 26, 2013 | Reprints | Unlock Link | Print

MassDevelopment Logo MassDevelopment has issued a $130 million tax-exempt bond on behalf of Lahey Clinic Foundation Inc., the parent company of Lahey Hospital & Medical Center. JPMorgan Chase Bank purchased the bond.

The organization will use bond proceeds to build and equip a cogeneration power plant. Lahey will also use bond proceeds to acquire an electronic medical records system and equipment for radiology, operating rooms, cancer services, information technology infrastructure and telemetry patient monitors.

"This low-cost financing will help Lahey Hospital & Medical Center become more sustainable in its energy use while using cutting-edge medical technology and equipment," MassDevelopment President and CEO Marty Jones said in a statement.

Commercial & Industrial