Last year, Signature obtained a $60 million financing package, which included “more favorable terms on its old debt,” according to the report. With the better terms in place, Signature CFO James Papadakos says, “We’re now in a position where we can borrow money to fund things like growth, technology, and physician practice development.”
Although Signature remains independent, it has an affiliation with Boston-based Beth Israel Deaconess Medical Center. Through that affiliation, Signature plans to construct a new cancer center at Brockton Hospital, which will allow the system to expand its cancer treatment services, according to the report.
Construction on the cancer center is expected to being within two years.
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