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MassDevelopment Helps Holyoke Medical Center Purchase Equipment

Nov 21, 2011 | Reprints | Unlock Link | Print

Holyoke Medical Center, a nonprofit community hospital, said it plans to use proceeds from a $3 million tax-exempt lease issued by MassDevelopment to acquire a variety of medical and non-medical equipment.

The hospital plans to buy an electronic health record, information technology equipment, a picture archiving and communication system upgrade, operation room equipment and instruments and HVAC equipment, according to a statement.

The lease was purchased by Phillips Medical Capital LLC.

"Holyoke Medical Center appreciates the assistance of MassDevelopment in obtaining the necessary financing for this equipment," said Holyoke Medical Center Senior Vice President of Finance Paul Silva. "With the help of MassDevolopment, not only do we realize a very competitive interest rate, but MassDevelopment has created a refined and efficient process for obtaining this financing from the initial request for proposals to the closing."

Commercial & Industrial