Here are three things to know:
1. Under the deal, Martin Health System, which comprises three hospitals, a 150-member physician group and a full range of outpatient services, will become a full member of Cleveland Clinic, pending regulatory approval.
2. Cleveland Clinic will invest $500 million over five years into Martin Health System to fund the institution’s strategic and capital needs, as well as other programs and services. All Martin Health System employees will also retain their employment and benefits for at least one year from the agreement’s finalization.
3. The agreement comes several months after the organizations signed a letter of intent to explore partnership opportunities in March. The organizations initially formed a heart and vascular affiliation in January.
More articles on transactions and valuations:
Ascension inks agreement to sell Connecticut hospital
Is bigger better? Mega mergers return to health systems — 3 thoughts
Baylor, Memorial Hermann to form 68-hospital system
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
