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The Boston Globe
By Davis Bushnell, Globe Correspondent
July 12, 2007
http://www.boston.com/news/local/articles/2007/07/12/with_healthier_bottom_line_hallmark_expands_reach/ Outpatient facility set for ReadingIn August 2000, three years after its founding, Hallmark Health System was in shaky financial health. Its bonded indebtedness was $106 million, and there was talk about how much longer the company could last. Today, the future is much brighter for Melrose-based Hallmark Health, chief executive Michael V. Sack said last week during a tour of a new outpatient facility in Reading. The Reading facility, which is expected to open July 23, represents not only a stronger bottom line but also a corporate push north and west of Hallmark's traditional geographic boundaries. "We've had four years of profitable performance, and our bond rating has been adjusted upward four times," said Sack, 58, who oversees a healthcare network that includes two flagship hospitals, the 234-bed Melrose-Wakefield and the 134-bed Lawrence Memorial of Medford. |
