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November 26, 2008

EMHS buys Brewer's Cianchette Building

Eastern Maine Healthcare Systems has purchased the Cianchette Building in Brewer, home to its headquarters, for $22.6 million.

The purchase will save the company millions compared to fulfilling its original 15-year lease on the property, constructed in 2004 by Cianbro Corp. of Pittsfield, which owned and leased the building to EMHS until the Nov. 14 sale, the Bangor Daily News reported.

The building is located on EMHS' 72-acre campus, also home to a new $42 million CancerCare of Maine facility now under construction. EMHS is the parent company of Eastern Maine Medical Center in Bangor and other area health care organizations.

The purchase spells a loss of $300,000 from city tax rolls, a shortfall the city had hoped to avoid through an earlier offer by EMHS to help ease the transition, the paper reported. EMHS had proposed to provide the city with a year's worth of taxes, split between two years, but later rescinded the offer after buying  the building.

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