Cleveland Acquisition of Indian River Medical Center and Martin Health

Cleveland Acquisition
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On 1st January 2019, Cleveland clinic fully assumed ownership of Indian River Medical Center and Martin Health. This was a successful merger between the three hospitals, but the Cleveland Clinic was the overall owner of the other two and had full ownership rights since it bought them out. The deal was done in 2018 but had to wait until the beginning of the following year to be formalized due to fulfilling the regulatory requirements. The deal is estimated to have been worth around $750 million (Sanborn, 2019). These newly acquired hospitals will continue running as usual, with patients still free to visit their doctors and physicians.
Both Martin Health and Indian River Medical (IRM) offer comprehensive health services to their clientele. Martín Health has three hospitals with a combined bed capacity of around 521 and 150 qualified personnel. On the other hand, IRM runs on a nonprofit system and has 332 beds (Sanborn, 2019). The acquisition of these two institutions by Cleveland Clinic will enhance Cleveland's influence, as it will stretch out its reach to a broader geographical area, thereby touching more people and delivering services to larger communities across the country and its region of operations.
The move is a win-win scenario for both players. As earlier noted, it benefits Cleveland by increasing its reach. As for Martin Health, the move helps to bail it out financially, as it will receive the bigger chunk of the amount, $500 million to be precise, to help it in its capital and strategic planning (Sanborn, 2019). It will also help the associates of Martin Health, such as the organizations that Martins Health partnered w...