Navigation Links
Huntington Financing Package Supports Major Regional Medical Center Electronic Medical Records Project
Date:5/12/2010

COLUMBUS and ZANESVILLE, Ohio, May 12 /PRNewswire-FirstCall/ -- Huntington Bank (Nasdaq: HBAN; www.huntington.com) 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 huntington.com; 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:
*Name:
*Comment:
*Email:
(Date:2/24/2017)... 2017 Zimmer Biomet Holdings, Inc. (NYSE and ... present at the Cowen and Company 37 th ... Place on Tuesday, March 7, 2017 at 11:20 a.m. ... the presentation can be accessed at http://wsw.com/webcast/cowen38/zbh .  ... conference via Zimmer Biomet,s Investor Relations website at ...
(Date:2/24/2017)... Research and Markets has announced the addition of ... report to their offering. ... The latest research Dry eye Drugs Price Analysis and Strategies - 2016, ... The research answers the following questions: ... attributes? How are they positioned in the Global Dry eye market? ...
(Date:2/24/2017)... HILL, N.C. , Feb. 24, 2017 /PRNewswire/ ... are exploring ways to increase their self-service capabilities ... Health Care Providers (HCPs). New research ... many pharma organizations have developed self-service website portals ... electronically.  This is just one of many findings ...
Breaking Medicine Technology:
(Date:2/23/2017)... ... 2017 , ... The Lymphoma Research Foundation (LRF) – the ... the lymphoma community through a comprehensive series of education programs, outreach initiatives and ... Beach to host its Swirl: Miami Wine Tasting Event on March 28, 2017. ...
(Date:2/23/2017)... ... February 23, 2017 , ... The American Cleft Palate-Craniofacial Association ... Annual Meeting. KLS is a longtime supporter of the event. , "We are ... Platinum Sponsor," said Dr. Bob Havlik, 2017 ACPA President. "KLS Martin has a long ...
(Date:2/23/2017)... , ... February 23, 2017 , ... Hamlin Dental Group ... that they are sponsoring a raffle. Throughout the month of February, patients who visit ... a gift card for a dinner for two at the Cheesecake Factory. , ...
(Date:2/23/2017)... ... February 23, 2017 , ... EBSCO Information Services ... National Institute for Health and Care Excellence (NICE) framework. The agreement allows ... Service (NHS) to search, order and purchase medical and healthcare-related content through ...
(Date:2/23/2017)... ... February 23, 2017 , ... Dr. David Mahon leads Siena Dental, a ... Mahon was named a 2017 Top Patient Rated Henderson Dentist by Find ... that recognizes local physicians and dentists who have earned high ratings and superior patient ...
Breaking Medicine News(10 mins):