Cleveland Clinic linked to potential hospital in China
Cleveland Clinic could one day have a foothold in China.
The health system last month signed a management consulting agreement with an unnamed organization planning to open a hospital in Shanghai, China. The news was shared in a disclosure document for bond holders. A Clinic spokeswoman confirmed the agreement was signed July 1, but said no further details were available, as it is in the early stages. The system is not disclosing the name of the organization at this time.
According to the disclosure document, dated Aug. 8, this would be the first Cleveland Clinic Connected relationship, the system's global affiliation program. The document offered little further details as to a timeline, goals or what the model would look like, but stated, "These international activities have increased the diversity of the Health System's healthcare operations while promoting the Cleveland Clinic's clinical expertise in new markets."
In recent years, the Clinic has both expanded its global reach and established affiliation models, bolstering its brand domestically and beyond.
The Clinic has been growing its global footprint since 2007, when it signed its first international management agreement for a healthcare facility in the United Arab Emirates. Also that year, it established Cleveland Clinic Canada in Toronto.
In March 2015, Cleveland Clinic Abu Dhabi opened, offering critical and acute care services. The multispecialty hospital, which currently has about 250 staffed beds, is managed by the Clinic for Mubadala Investment Company, which is owned by the government of Abu Dhabi.
Also in 2015, the Clinic acquired London property for the development of a health care facility. In January of this year, the Clinic received approval to begin converting the six-story, 198,000-square foot building from office space into a roughly 200-bed health care facility that is expected to open in 2020.
The Clinic entered its first clinical affiliation with a U.S. hospital system in 2011 and has continued to form affiliations, a strategy that allows the system to expand its name and brand without investing heavily in bricks and mortar. The Clinic's Heart & Vascular Institute, for example, has forged contracts with hospitals across the country to help them improve their own heart programs. Moreover, just last month the Clinic announced it was expanding its eight-year clinical affiliation with CVS Health and establishing an affiliation with Boston Children's Hospital to provide complex pediatric heart services through the Clinic's national network.
In 2016, the Clinic announced an affiliation with a regional health network in Milwaukee to leverage the academic, clinical and research work of both organizations, as well as an affiliation between St. Luke's Hospital in the St. Louis area and the Clinic's Sydell and Arnold Miller Family Heart and Vascular Institute.
And before the Clinic took on full ownership of Akron General in 2015, the two had an affiliation agreement.
"Cleveland Clinic linked to potential hospital in China" originally appeared in Crain's Cleveland Business.
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