Navigation Links
Huntington Financing Package Supports Major Regional Medical Center Electronic Medical Records Project

COLUMBUS and ZANESVILLE, Ohio, May 12 /PRNewswire-FirstCall/ -- Huntington Bank (Nasdaq: HBAN; has created a unique funding model to finance a $25 million electronic medical records (EMR) system installation at one of the region's largest health care providers, Zanesville-based Genesis HealthCare System. The $25 million equipment finance deal will install a clinical information system enabling Genesis to establish an EMR across its two hospitals and multiple health providers serving Southeast Ohio patients.

Genesis successfully overcame the tight national credit market for health care infrastructure with a strong track record of wise financial planning that created an attractive investment opportunity, explained Jim Dunlap, Huntington's senior executive vice president and commercial banking director. Coupled with federal stimulus money, Genesis will invest more than $40 million in its systemwide EMR integration.

"Huntington has been working with Genesis for years," Dunlap said. "When it came time for the health care system to find a financing partner, we presented an innovative solution that enables Genesis to meet an aggressive implementation timeline while eliminating market interest rate fluctuations on the debt."

The financing, which is authorized by a pass-through, tax-exempt relationship with Muskingum County, will be issued in $15 million and $10 million phases.

"This financing structure creates a winning model for Genesis," Dunlap said. "We have been able to eliminate floating interest rates to create stability for cash management planning during this immense project, so that Genesis can focus on implementation without adding risk."

Genesis is scheduled to debut its initial EMR system enhancements in November 2010 through a pilot at four physician offices and expand the project rollout in 2011," said Genesis Chief Financial Officer Paul Masterson.

"Genesis' ability to take on a full EMR system upgrade that takes advantage of the stimulus funding pool is the result of careful preparation and a strong reserve to ensure our continued excellence in service to our community," Masterson said. "We found the right match with Huntington to minimize risk exposure and maximize control over variables to support our success."

About Huntington

Huntington Bancshares Incorporated is a $52 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has been providing a full range of financial services including checking, loans, savings, insurance and investment services to customers for 144 years. Huntington has more than 600 banking offices. Huntington also offers retail and commercial financial services online at; through its telephone bank; and through its network of over 1,300 ATMs.

SOURCE Huntington Bancshares Incorporated
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Huntington Hospital Surgeon Performs First Single Port Resection on Colorectal Cancer Patient in CA
2. Raptor Pharmaceuticals to Collaborate with Centre Hospitalier Universitaire dAngers for Phase II Clinical Trial in Huntingtons Disease
3. Medivation Announces Positive Top-Line Results From Phase 2 Dimebon Study in Huntingtons Disease
4. Medivation to Host Conference Call at 5 p.m. EDT Monday to Discuss Top-Line Phase 2 Study Results in Huntingtons Disease
5. EnVivo Pharmaceuticals Announces Progress on Major Drug Programs Focusing on Alzheimers, Schizophrenia and Huntingtons Diseases
6. Intellect Neurosciences, Inc. and CHDI, Inc. Enter Into Compound Testing Agreement to Evaluate OXIGON(TM) as a Potential Treatment for Huntington Disease
7. ActiveSight and CHDI Leverage Fragment-Based Lead Discovery for Huntington Disease Therapies
8. ADVENTRX Pharmaceuticals Announces Closing of Financing
9. Cheetah Medical Closes $20 Million Series B Financing
10. Poniard Pharmaceuticals Announces $6.3 Million Financing
11. TransMedics, Inc. Secures $36 Million Round of Financing Lead by Foundation Capital and Kleiner Perkins Caufield & Byers
Post Your Comments:
(Date:11/30/2015)... 2015 iCAD, Inc. (Nasdaq: ICAD ... latest solutions for advanced image analysis and workflow ... the Radiological Society of North American (RSNA) 2015 ... from November 29 to December 4, 2015. The ... an automated breast density assessment solution, PowerLook® Advanced ...
(Date:11/30/2015)... Texas , Nov. 30, 2015  Hanger, Inc. ... amendment and restatement of the terms of its previously ... Solicitation") relating to its $200,000,000 aggregate principal amount 7⅛% ... other things, (i) the consent fees payable pursuant to ... on the Notes and (iii) the expiration date of ...
(Date:11/30/2015)... Mexico Healthcare and Life Sciences Report 2015 . --> ... Pharmaboardroom releases its new 98-page Mexico Healthcare and Life Sciences ... country of over 122 million people. --> Latin ... --> It offers companies, investors, policymakers, and stakeholders with an ... largest pharma and healthcare market in Latin America ...
Breaking Medicine Technology:
(Date:11/30/2015)... ... November 30, 2015 , ... RoamRight, a leading provider of ... Public Television’s Travel With Kids to promote family vacations around the world. ... they explore international destinations and educate families about the people and places of the ...
(Date:11/30/2015)... ... November 30, 2015 , ... ... disease-causing component of bacteria could be effective in fighting methicillin-resistant Staphylococcus aureus (MRSA), ... University. , Their study showed that small molecule analogs that target the functions ...
(Date:11/30/2015)... ... 30, 2015 , ... At Grand Dental PC, their priority is to deliver ... have dental problems, you need to turn to a dentist who listens and responds; ... needs, a friendly dentist who counsels you on the best ways to maintain and ...
(Date:11/30/2015)... ... November 30, 2015 , ... Using a combination of ... in American children and adults, according to a new study by researchers at the ... Prediabetes in Children and Adults: Using Combinations of Blood Glucose Tests ,” published in ...
(Date:11/30/2015)... ... 2015 , ... Newly reviewed and approved “NJ Top Dentist”, ... He has both advanced training and considerable experience in reconstructive dentistry with attention ... cosmetic dentistry. He is an active Spear Education member providing full mouth ...
Breaking Medicine News(10 mins):