Ohio hospital with surgery center seeks strategic partner — 5 insights

Concord Township, Ohio-based Lake Health is seeking a strategic partner to promote clinical and technical innovation throughout the health system, the Cleveland Plain Dealer reports.

What you should know:

1. Despite seeking the strategic partner, Chairman Michael Mayher said the health system is in no immediate financial need for a partner.

2. Lake Health has two hospitals, a surgery center and a cancer treatment center.

3. The system has had financial stumbles in the past. For instance, it posted operating losses of $22.8 million in 2016 and $4.8 million in 2017. Financial information from 2018 and 2019 was not made available to the Plain Dealer.

4. Vice president of marketing Dino DiSanto said Lake Health was in a good position to seek a partnership.

5. After an initial discovery process, the health system will decide if market conditions are right to enter into a partnership or continue independently.

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