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University Hospitals Finalizes Parma, Elyria Deals

State and federal government regulators have given final approval to two hospital transactions initiated by Cleveland-based University Hospitals from earlier this year.

In July, UH and 332-bed Parma (Ohio) Community General Hospital signed a letter of intent to merge. In June, UH and EMH Healthcare based in Elyria, Ohio, also agreed to combine their organizations.  

Effective Jan. 1, the organizations will change their names to University Hospitals Parma Medical Center and University Hospitals Elyria Medical Center, according to a news release. Financial details of the transactions were not disclosed, although UH officials said the system would make unspecified investments in facility upgrades, equipment, services and technologies at UH Parma and UH Elyria.

Thomas Zenty III, CEO of UH, said the government approval and due diligence phases affirmed "our shared conviction that our patients, and all of northeast Ohio, will be better served through this unification," according to the release.

UH Parma has 2,000 employees while UH Elyria, which is comprised of a main hospital and two other campuses, employs 2,100 people. The UH system now has 14 hospitals, 25 outpatient health centers and 25,000 employees.

More Articles on Hospital Transactions:
Saint Francis Hospital Seeks Other Buyers Outside of Health Quest
UnityPoint Finley, Guttenberg Memorial Hospital Discuss Full Affiliation
MaineHealth to Add Franklin Community Health Network

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