Cleveland Clinic acquired Stuart, Fla.-based Martin Health System for $500 million and Vero Beach, Fla.-based Indian River Medical Center in a $250 million deal, according to TC Palm. Now Cleveland Clinic is rebranding its acquisitions.
Three takeaways:
1. Martin Health System comprised three hospitals. Each have been rebranded to:
• Martin Medical Center in Stuart became Cleveland Clinic Martin North Hospital
• Martin Hospital South in Stuart became Cleveland Clinic Martin South Hospital
• Tradition Medical Center in Port St. Lucie, Fla., became Cleveland Clinic Tradition Hospital
2. Cleveland Clinic acquired the hospitals Jan. 1. The rebranded names went into effect immediately. Over the first year under Cleveland Clinic, the hospitals will face no staff reductions.
3. At Cleveland Clinic Tradition Hospital, Cleveland Clinic will continue developing the $30 million Neuroscience Center of Excellence for brain and spine surgery as well as neurology.