HMC to Install EMR Thanks to $3M Lease

HOLYOKE — MassDevelopment has issued a $3 million tax-exempt lease on behalf of Holyoke Medical Center, a nonprofit community hospital that serves several Western Mass. communities. The center will use lease proceeds to acquire a variety of medical and non-medical equipment, including an electronic health record system and other information-technology equipment.

Other items include a picture archiving and communication system upgrade, operation room equipment and instruments, and HVAC equipment. Phillips Medical Capital, LLC purchased the lease.

“Holyoke Medical Center plays a vital role in public health for Holyoke and the surrounding communities,” said MassDevelopment President and CEO Marty Jones. “MassDevelopment is pleased this low-cost financing will help the center join the growing movement toward electronic medical records and buy equipment to help better serve its patients.”

Holyoke Medical Center, a member of Valley Health Systems Inc., is an acute-care, urban facility that provides inpatient medical, surgical, critical-care, cardiac, obstetrical, psychiatric, and oncology services, as well as an array of outpatient diagnostic and therapeutic services.

“Holyoke Medical Center appreciates the assistance of MassDevelopment in obtaining the necessary financing for this equipment,” said Paul Silva, the hospital’s senior vice president of Finance. “With the help of MassDevelopment, 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.”

Silva added that the electronic health record system, operating room equipment, surgical instruments, and other items to be acquired through the lease will all have a direct, positive affect on improving patient care, outcomes, and efficiency.

“These items will have an immediate positive effect on our community,” Silva said.