Boston – MassDevelopment has issued a $109,865,000 tax-exempt bond for UMass Memorial Health Care, the largest healthcare system in central Massachusetts. 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.
UMass Memorial Health Care will use bond proceeds to finance renovations and the purchase of equipment at its various hospital campuses. The organization also used bond proceeds to refinance previously issued debt.
At UMass Memorial Medical Center’s University Campus, the organization will use bond proceeds to begin work on an MRI project, build an 18-bed medical-surgical unit, and make other interior renovations. On the Memorial Campus, bond proceeds will fund the renovation of inpatient rooms and employee workspaces, and the replacement of the HVAC, sanitary and water piping systems.
On HealthAlliance-Clinton Hospital’s Leominster Campus, bond proceeds will fund new surgical unit sterile processing operations; 13 new emergency department exam rooms; the expansion and renovation of the parking deck and front of the building, the installation of an emergency power and heat system; the replacement of HVAC systems, sanitary and water piping systems, and the new combined heat and power (CHP) system that reduces the dependency of electrical power from the local grid.