MassDevelopment has issued a $57.8 million tax-exempt bond on behalf of Southcoast Health System, a community based health delivery system that includes the three hospitals that make up Southcoast Hospitals Group – Charlton Memorial Hospital in Fall River, St. Luke’s Hospital in New Bedford and Tobey Hospital in Wareham.

Southcoast will use bond proceeds to build a 60,000-square-foot center for primary and specialty care in Fairhaven, renovate the Atwood building at Charlton Memorial Hospital, and install furniture, fixtures, and equipment. Southcoast will also use proceeds to finance upgrades to computer, electrical and HVAC systems.

 Southcoast provides advanced clinical services, such as open heart surgery, angioplasty and heart rhythm services, comprehensive cancer care, neurosurgery, weight loss surgery, orthopedic surgery, advanced imaging services and is the only provider of maternity services in the region.

 In addition to hospital services, Southcoast provides a range of outpatient services at more than 40 sites across southeastern Massachusetts and Rhode Island including primary and specialty care physician offices, diabetes management, laboratory services, occupational health, medical and radiation oncology services, rehabilitation services, radiology service and wound care.