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Cleveland Clinic adds 4 hospitals

Indian River Medical Center in Vero Beach, Fla., and Martin Health System, a three-hospital system based in Stuart, Fla., are now part of the Cleveland Clinic health system.

Cleveland Clinic said the transactions closed Jan. 1 after receiving the necessary regulatory approvals.

Cleveland Clinic signed a definitive agreement in October to acquire Martin Health System. Under the agreement, Cleveland Clinic committed to a $500 million investment over five years in Martin Health System. Cleveland Clinic agreed to invest $250 million in Indian River Medical Center over the next 10 years.

More articles on healthcare industry transactions:

CHS divests 2 South Carolina hospitals
Bankrupt hospital chain receives $63M bid
Dignity Health, CHI push back merger date

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