United Health Services Hospitals, Inc. (UHSH)

Low Cost Financing Through DASNY Helps Hospitals Save Lives

United Health Services Hospitals, Inc. (UHSH)

Low Cost Financing Through DASNY Helps Hospitals Save Lives

DASNY delivered $225 million in low-cost leases through its Tax-Exempt Equipment Leasing Program (TELP)  to health care organizations in Fiscal 2016. These leases make it possible for health care providers to deploy the latest medical equipment. This technology makes electronic record-sharing possible, improves delivery of vital services and leads to better patient outcomes.

In Fiscal 2016, the DASNY Board approved TELP leases totaling $8.8 million for two Southern Tier hospitals that help comprise United Health Services Hospitals, Inc. (UHSH).

The deal delivered significant savings to the hospitals. Through TELP, Wilson Medical Center in Johnson City obtained a $2 million CT scanner, digital X-ray equipment and a replacement phone system for its clinic, among other items. Binghamton General Hospital in Binghamton obtained a comprehensive financial planning system. Binghamton will share with Wilson new surgical lights and tools, anesthesia medication carts and IT infrastructure applications. UHSH will own the equipment at the end of the five-year lease.

Carmen Mazzotta, as advisor to UHSH and Health Capital Partners LTD President, said UHSH uses TELP on an annual basis and has executed deals totaling almost $100 million.

“This partnership is built on trust, loyalty and confidence,” Mazzota said. “The annual interest savings achieved through TELP helps participating hospitals like UHSH to provide quality hospital services and technologies at a lower cost.”

Through TELP, DASNY partners with its clients and private businesses that provide the funds for capital equipment leases. DASNY’s ability to enter into tax-exempt leases lowers interest rates for its clients. DASNY guides clients through every step of the process, including obtaining approvals from the NYS Department of Health.