SPRINGFIELD – Massachusetts Mutual Life Insurance Company (MassMutual) announced today that it has made a $3 million contribution to Baystate Medical Center’s capital campaign to support construction of its new facility.
Recognizing the compelling need for Baystate’s new facility, as well as its longstanding commitment to the community, MassMutual responded by investing in the long-term future of healthcare for people in the region.
“At MassMutual, we recognize the importance of good health and well-being, as well as the benefits of leading a healthy lifestyle,” said Roger Crandall, chairman, president and CEO, MassMutual. “So it’s only fitting that MassMutual does its share to contribute to this project, as our employees, agents, policyholders and community at large in this region will directly benefit from the outstanding care this great facility will provide.”
In recognition of MassMutual’s commitment to Baystate Medical Center, as they provide for the future of healthcare in western Massachusetts, Mark R. Tolosky, JD, FACHE, president and CEO of Baystate Health, announced today the naming of its first phase of the building project – to be known as the MassMutual Wing.
“We are so grateful that MassMutual shares our vision of good health for the community and has so generously provided this support, which significantly helps us to replace an aging infrastructure and continue to meet the healthcare needs of the people of western Massachusetts right here in Springfield,” said Tolosky.
The first phase of Baystate’s building project is on schedule and on budget for opening in March 2012. The MassMutual Wing will house the Davis Family Heart and Vascular Center which includes six surgical/endovascular suites designed to accommodate advanced lifesaving cardiovascular procedures and 32 cardiovascular critical care rooms that will support state-of-the-art medicine and at the same time provide ample room for the comforting presence of a patient’s family and friends, known to make the patient’s experience better.
This $296 million project has made a significant economic impact in our region, with job growth for the construction industry benefiting from the addition of approximately 300 new jobs on site since breaking ground in 2009. Approximately 70% of the work on the project has been completed by local and regional businesses. In addition, Baystate expects to add more than 200 new permanent clinical/medical positions.
Charles L. D’Amour was chair of the Baystate Health board of trustees at the time of the decision to build the new facility, and has watched the project evolve from dream to plan to bricks and mortar. “Amid tremendous economic uncertainty, the trustees and leadership of Baystate Health made a courageous decision to move forward with this crucial project for the health of the people in western Massachusetts. It is the right decision, without a doubt, and I have never been more proud of the Baystate organization,” said D’Amour. “Today, we should all take pride in this contribution from MassMutual, a pillar of strength in Springfield, and celebrate their investment in the future health of our community”.
John Davis, chair of The Campaign for Baystate Medical Center praised both organizations, who have served the community with distinction since the 1800’s.
“We are extremely grateful for the level of support we have received from MassMutual. Their gift is essential to the success of our campaign. Having their name associated with the new hospital project speaks to the magnitude of philanthropic influence on our academic medical center,” said Davis.
MassMutual’s philanthropic gift represents a significant portion of contributions made toward the $23 million Campaign for Baystate Medical Center.
Voluntary financial contributions from doctors, senior administrators and many other Baystate Health employees, as well as local businesses and individuals, make up another substantial part of the $23 million raised to support the financing for Baystate’s building project. In addition to philanthropic support, the remainder of the project cost is being paid by a special bond issue undertaken by Baystate Health, and by the organization’s own capital. Tax credits intended to spur construction in economically challenged areas such as Baystate’s North End neighborhood have helped secure favorable financing.
The project timeline itself represents a response to community needs. Late last year, Baystate accelerated the timing for a new Emergency Department at Baystate Medical Center into the latter part of the construction project’s first phase. The new ED, triple the size of the existing ED and with specially designated pediatric, trauma, and behavioral health treatment areas, will enable the hospital—one of the busiest in the nation for emergency care—to better accommodate the enormous demand for those services. The new, expanded ED will open in autumn 2012.