Every deal involves winners and losers. That approved by Lakewood city council earlier this month, if allowed to proceed, will be no exception:
Winners in the Master Agreement
- Cleveland Clinic uses city cash and assets to build an office building that they will own.
- The Clinic eliminates competition and controls health care in Lakewood.
- The Clinic gets Lakewood city assets for pennies on the dollar.
- The Clinic skips out on remaining 10 years of lease.
Losers in the Agreement
- Lakewood loses profitable acute care hospital and full service emergency room.
- City deprived of competing health care providers. No competition means higher costs of health care.
- 1,100 employees of Lakewood Hospital lose jobs in Lakewood.
- City trades Hospital assets valued at $120 million and gets less than $45 million. We lose at least $75 million.
- Lakewood residents faced with long stressful rides in emergency vehicles to other hospitals.
- In addition, Lakewood loses $20 million in revenue over 10 years.
- With no hospital, Lakewood citizens face tax increase.
- Thousands of senior citizens lose access to nearby hospital.
- Lakewood loses doctors who move their practices to be near a hospital.
This information is also available as a PDF you can download and print.