Med One Books 8-Figure Lease With Large East Coast Health Care Provider
April 9, 2019
Med One Group recently announced an 8-figure transaction that booked on March 13th 2019. This $28 million-dollar transaction will benefit 16 unique healthcare facilities on the East Coast. This custom lease arrangement will allow for needed upgrades during the next two years.
Med One Group has become well known for its straightforward and responsive approach to leasing by both vendors and lessees. In March, Med One had an opportunity to demonstrate its speed and efficiency when it booked a lease totaling over $28 million. Deals of this size and scope are not uncommon, but typically they don’t come to fruition as quickly as this one did. The first inquiry came to Med One during the last week of February. This deal with one of the top Integrated Delivery Networks (IDN) in the state of Virginia involves 16 separate lease documents all of which were reviewed and executed by the customer within less than a week of being presented. The assets being leased will provide a major system-wide upgrade to the Health System’s pharmacy and supply management system. Implementation of these technology upgrade and cost-saving improvements will take place over the next two years.
The completion of this lease, as with any large transaction has demanded a high level of schedule creativity, document flexibility, and coordinated communication between Med One, it’s vendor partner, and the lessor. The speed at which this deal was booked is due in large part to the close cooperation between each of the parties and ultimately the willingness of a lessor to complete all of the required documentation as quickly as it did.
Robb Stevens, Sr. VP of Equipment Leasing said, “Med One’s key vendor partners have come to appreciate and rely upon Med One’s speed, creativity and efficiency in helping them win deals with their customers. By demonstrating these core values, day in and day out, everybody wins.”
For nearly thirty years Med One has been a lessor for healthcare facilities across the country. They are pleased to contribute to technology acquisitions and upgrades that greatly improve the quality of care and address the specific needs of patients. Med One’s unique position in the healthcare sector allows them to finance major capital acquisitions for large health systems with many custom requirements. This provided expertise allowed them to facilitate one of the larger lease deals in the company’s history.
Med One Group / www.medonegroup.com / April 2019