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Cleveland Clinic looks to expand hospital portfolio

Cleveland Clinic signed a letter of intent Sept. 27 to add Mercy Medical Center, a 476-bed hospital in Canton, Ohio, to its hospital portfolio.

Cleveland Clinic outlined the potential benefits of the transaction, including improving technology at Mercy Medical Center, expanding access to services and addressing unmet needs in the community.

The Sisters of Charity Health System, which owns Mercy Medical Center, will work toward finalizing a definitive agreement with Cleveland Clinic. If the transaction is finalized, Mercy Medical Center would maintain its Catholic identity through sponsorship by the Sisters of Charity of St. Augustine, the health systems said.

"We are excited for this potential partnership of Mercy with a world-class health system that will maintain its roots in Northeast Ohio," Thomas J. Strauss, president and CEO of the Sisters of Charity Health System and interim CEO of Mercy, said in a press release. “Joining with Cleveland Clinic, which has strong local presence, will help Mercy Medical Center strengthen its services to the community; provide expanded options for clinical services and support important growth initiatives that will provide for the long-term sustainability of Catholic healthcare in Canton."

More articles on healthcare industry transactions:

Hospital M&A update: 5 latest deals
Proposed merger would create 33-hospital network in Louisiana
Mon Health helps West Virginia community hospital stay afloat

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