Big changes are coming to Cleveland’s medical landscape.
MetroHealth announced a multi-year $855 million plan to construct a new “state-of-the-art” hospital.
“We have laid out a four-month plan to secure the financing,” CEO Dr. Akram Boutros wrote in a statement. “It is an aggressive timeline, and we are starting by hiring an investment banker to help us prepare the bond financing plan.”
PHOTOS | MetroHealth's $855 million transformation
The new facility will be approximately 650,000 square feet and stand nine stories tall.
Estimated completion: 2022.
The existing hospital will be demolished.
The move toward these upgrades sparked back in 2011 when a consulting firm gave MetroHealth a bleak five-year outlook: 2015 would end $40 million in the red with hundreds of jobs hanging in the balance. Their options? Sell to a competitor, wind down operations or reinvent.
MetroHealth officials said they “are gaining patients in record numbers.” In the last three-and-a-half years, the amount of patients grew by 67,000. MetroHealth has also hired 1,200 additional people in the last four years -- none of whom earn less than $12 an hour.
It’s estimated that 97 percent of Cuyahoga County residents live within a 10-minute drive of a MetroHealth facility.
“We now have 24 community health centers, four emergency departments, four clinics in Discount Drug Mart stores, five Express Care locations and nine pharmacies,” Dr. Boutros said. “That means nearly everyone in Cuyahoga County is within a 10-minute drive of exceptional MetroHealth care.”