Webster Bank finances $11.2M loan to South County Health

PROVIDENCE – Webster Bank recently provided an $11.2 million leasehold mortgage to South County Health, according to a news release.

The 17-year loan will help the health care provider renovate its Wakefield offices in South Kingstown, which will serve as the new home for South County Hospital’s Center for Advanced Orthopedic Surgery, the release stated.

“South County Health is a national leader in complex orthopedic surgery, and we are pleased to be able to support its strategic vision to establish a regional and national destination center for transformational orthopedic and robotic surgery and innovation on its campus,” Steve Dowe, senior vice president and head of Healthcare Middle Market Banking at Webster Bank, said in a statement. “This transaction is another example of how Webster works alongside our Middle Market health care customers to deliver financing solutions that support their strategic initiatives to better serve the medical needs of our communities.”

Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.

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