Montecito Acquires 69,800 SF Surgical Facility in Suburban Cleveland
BEACHWOOD, OHIO — Montecito Medical has acquired Beachwood Medical Center in Beachwood, a suburb of Cleveland. Built in 2019, the surgical facility spans 69,800 square feet and is fully leased to an operating entity owned predominantly by Lake Health and University Hospitals. The facility specializes in orthopedics, urology, the spine, general surgery and pain management. Most of the hospital’s surgeries are performed on an outpatient basis, with elective procedures representing 75 percent of the surgical volume. The two-story facility, which also offers physical therapy, advanced imaging and a 24/7 emergency department, includes eight operating rooms, two procedure rooms and 25 patient beds. The purchase price and seller were undisclosed.