Financing Deal Will Bolster Boston MedFlight Fleet

Boston MedFlight is using tax-exempt leases totaling $16.8 million issued by MassDevelopment to buy and medically retrofit a Cessna Citation CJ4 jet airplane and an Airbus H145 helicopter to add to its existing transport fleet of mobile intensive care units. The organization partners with a consortium of leading Boston-area hospitals by providing its critical care medical transport. Banc of America Public Capital Corp. (Bank of America) purchased the leases, which helped Boston MedFlight achieve a lower cost of capital.