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Signature Health, Painesville Health Campus

Issuer(s)
DFWR
Investment Amount(s)
(in millions)
$6.5M
Closing Date
September 3, 2020
County
Lake

Signature Health is a non-profit, Federally Qualified Health Center serving multiple counties in Northeast Ohio for over 25 years. The departure of a main healthcare provider from the city of Painesville in 2009 left nearly 1,000 workers without jobs and many more people without access to comprehensive care; Signature Health recognized the need for a new, one-stop facility for medical and behavioral health to serve the community. DFWR allocated $6.5M in federal and $1M in state New Markets Tax Credits to this project, and Chase Bank served as the NMTC Investor.
The Painesville Health Campus will allow many current patients to seek care closer to home, and will ultimately provide approximately 5,000 new patients with care each year. Services will include family practice, internal medicine, OB-GYN services, psychiatry, disease screening and prevention services, counseling, and substance abuse treatment; as a Federally Qualified Health Center, Signature Health can offer discounted rates to uninsured and underinsured patients. DFWR’s financial support allowed for the renovation and buildout of approximately 32,000 square feet of an existing medical complex and adjoining building, which is nearly triple that of Signature Health’s current Painesville facility.
By providing care to an underserved area and creating approximately 60 permanent quality jobs, the Painesville Health Campus is well-positioned to improve Lake County’s medical and economic wellbeing for years to come.