Boston MedFlight receives $8.1 million tax-exempt lease
A nonprofit medical airlift company is benefiting from a tax-exempt lease on a new plane, Massachusetts officials announced.
MassDevelopment has awarded an $8.1 million lease to Boston Medflight, in conjunction with U.S. Bancorp Government Leasing & Finance Inc., to assist the organization expand its services by purchasing and renovating a jet it will use for medical transport.
“The commonwealth is fortunate to be home to some of the most elite and capable hospitals in the nation,” Housing and Economic Development Secretary Mike Kennealy, who serves as chairman of MassDevelopment’s Board of Directors, said in the release. “These providers are supported each day by teams, like Boston MedFlight, that provide life-saving emergency transport services. It’s terrific to see MassDevelopment help this organization expand its reach to better serve our communities.”
The nonprofit organization, according to the release, transports critically ill or injured patients by air and ground and will use proceeds to purchase and reconfigure a Cessna Citation CJ4 jet propelled airplane. The organization was founded in 1985 by a consortium of hospitals.
“We are pleased to add the Cessna Citation CJ4 to our fleet of aircraft,” Boston MedFlight CEO Maura Hughes said in the release. “This will allow us to transport patients to and from longer distances. Our missions are bedside to bedside when time is of the essence, and we look forward to improving and expanding our capabilities with the addition of this jet to carry out critical, life-saving flights.”
Leading Boston-area hospitals that work with Boston MedFlight include Beth Israel Deaconess Medical Center, Brigham and Women’s Hospital, Boston Children’s Hospital, Boston Medical Center, Lahey Hospital & Medical Center, Massachusetts General Hospitals, and Tufts Medical Center, according to the release.
The Citation CJ4, according to the release, is a turbofan aircraft and will add to the organization’s fleet that consists of five twin-engine H145 helicopters and eight ambulances. The additional plane will allow Boston MedFlight to provide safer, faster, more efficient service to a greater number of the region’s population.
According to the release, U.S. Bacncorp has purchased the lease and will also provide funding for tools, parts, and equipment for the aircraft.
“When every second counts, Boston MedFlight ensures New England residents receive rapid care and safe delivery to the region’s world-class medical institutions,” MassDevelopment President and CEO Dan Rivera said in the release. “MassDevelopment is proud to help the organization enhance its emergency fleet with a jet airplane that will provide safer, more efficient transport in times of need.”
MassDevelopment, according to the release, has worked to provide Boston MedFlght with $55,820,000 in leases for transportation vehicles.
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