Banker & Tradesman
Summary
MassDevelopment has issued a $109 million tax-exempt bond for UMass Memorial Health Care, the largest health care system in central Massachusetts. Proceeds will finance renovations and the purchase of equipment at various hospital campuses. The organization also used bond proceeds to refinance previously issued debt.
UMass Memorial Health Care includes three hospitals: UMass Memorial Medical Center with its Memorial, University and Hahnemann campuses in Worcester; UMass Memorial HealthAlliance-Clinton Hospital with campuses in Clinton, Burbank and Leominster; and UMass Memorial-Marlborough Hospital in Marlborough.
“As the largest health care system in central Massachusetts, UMass Memorial Health Care plays an important role in the commonwealth’s economy,” MassDevelopment President and CEO Lauren Liss said in a statement. “This bond financing will allow UMass Memorial Health Care to make crucial hospital campus upgrades to better serve its patients with the high-quality care for which it is known.”
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