The Cleveland Clinic is planning to spend $848 million on capital projects in 2010, President and CEO Delos “Toby” Cosgrove, M.D., told employees in his State of the Clinic address, according to a summary provided by the system. Much of the investment will go toward the renovation of inpatient and outpatient space on the Cleveland campus that was vacated with the openings last year of a new heart pavilion and urological and kidney tower. The work started in 2008 and is scheduled to be completed by the end of 2010, Cosgrove said. While noting that the economic climate has been and will continue to present challenges, Cosgrove said the system's operating income increased nearly 50% to $358 million in 2009 from $239 million in 2008. Other projects on the books for the coming year include a two-story addition to 390-bed Fairview Hospital that will house a new emergency department and intensive-care unit. The system is planning to build a data center in the Cleveland suburb of Brecksville and is contributing to the construction of a 50,000-square-foot facility to house the Global Cardiovascular Innovation Center, a public-private partnership supporting startup companies in the field of medical innovation. Cosgrove also noted that the system will continue to invest in projects in Florida, Las Vegas and Abu Dhabi, United Arab Emirates.
Cleveland Clinic announces $848 million in 2010 projects
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