Cleveland Clinic acquires Florida hospitals
The Cleveland Clinic campus in Ohio. Photo: Cleveland Clinic
The Cleveland Clinic is acquiring two Florida hospital systems, Martin Health System and Indian River Medical Center. The deals will significantly expand the Ohio-based organization's presence along the eastern coast of Florida, where it already has a campus near Miami.
Why it matters: These kinds of smaller hospital deals fly under the radar, but they consolidate health care pricing power at the local level with a larger corporate parent. Cleveland Clinic is on pace to collect $4.5 billion of revenue this year.