Spectrum borrows $8.5M for new treatment site
An artist rendering of Spectrum Health Systems' proposed treatment facility in Westborough.
Worcester-based Spectrum Health Systems has taken out an $8.5-million bond to build an 80-bed, 30,000-square-foot treatment facility in Westborough.
The tax-exempt bond was issued by MassDevelopment and purchased by TD Bank, the finance and development agency said Tuesday.
“We’re pleased this low-interest financing will help Spectrum address demand and make strides in treating substance abuse,” Marty Jones, MassDevelopment president and CEO, said in a statement from the agency.
The treatment facility will employ 44 people and will be located next to an existing Spectrum site. The new building will offer gender-specific programs and will treat young adults and adults suffering from substance abuse issues and mental health disorders.
Spectrum employs 1,000 across 125 facilities in Massachusetts, Rhode Island, Maine, Florida, Georgia, Iowa, Tennessee and Washington.
WBJ Web Partners
Most Recent
Most Recent
0 Comments