MassDevelopment has issued an $8.5 million tax-exempt lease on behalf of New England Life Flight Inc.

New England Life Flight Inc. does business as Boston MedFlight, a cooperative venture among Beth Israel Deaconess Medical Center, Boston Medical Center, Brigham and Women’s Hospital, Boston Children’s Hospital, Massachusetts General Hospital and Tufts Medical Center.

The organization will use lease proceeds to purchase a medically configured helicopter to transport critically ill and injured patients. Lease proceeds will also finance related tools, parts, equipment and training. U.S. Bancorp Government Leasing and Finance Inc. purchased the lease.

This is the second lease issued to Boston MedFlight from MassDevelopment. In March, MassDevelopment issued an $8 million tax-exempt lease to Boston MedFlight that financed the purchase of a new medical transport helicopter as well as tools, equipment and training.

Boston MedFlight transports emergency patients regardless of their ability to pay and operates three of the four medical helicopters in Massachusetts. In 28 years, Boston MedFlight has transported more than 52,000 critically ill and injured patients.

MassDevelopment Gives $8.5M To New England Life Flight Inc.

by Banker & Tradesman time to read: 1 min
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