Major Contribution Boosts Capital Campaign to Increase Health Access for Ohio Residents
The Bank of America Charitable Foundation has awarded a $1 million anchor grant to MetroHealth that will be used to support MetroHealth’s expanded services and transformation. Bank of America is the first lead corporate partner of MetroHealth’s philanthropic campaign, “For All of Us.” Launched earlier this year, the campaign’s goal is to raise a minimum of $100 million by 2023 for core aspects of MetroHealth’s transformation.
“At Bank of America, we continually seek new ways to connect with institutions doing important work and making a meaningful impact in our community,” said Jeneen Marziani, Ohio market president at Bank of America. “We’re incredibly proud to provide an anchor grant in support of MetroHealth’s impressive community revitalization transformation project that will not only transform the main medical campus but also revitalize and anchor the neighborhood.”
“Having this significant support from Bank of America, a major financial institution that is growing and investing in Ohio, is a great endorsement toward reaching our goals of creating a stronger MetroHealth,” said Brian M. O’Neill, chair of The MetroHealth Foundation board of directors. “We are honored to have Bank of America as a key partner as we continue to achieve and increase our health services that will make MetroHealth and Northeast Ohio a more formidable force in the future.”
Bank of America has environmental, social, and governance policies that drive responsible growth, create jobs, and help families, businesses and communities thrive. The anchor grant was created to support institutions and initiatives that "anchor" the local community and enable economic mobility, workforce development and education, and community revitalization.
As part of MetroHealth’s transformation, the MetroHealth/West 25th Street neighborhood is on the path toward certification as an ecodistrict, seizing upon creating opportunities for community wellness and economic development. MetroHealth is developing programs that address affordable housing, financial stability, safe neighborhoods and equitable access to healthy foods and quality jobs. New programs and the expansion of existing programs and services will target making access to health care easier; address social and economic barriers to health and wellness; and engage in cross-community collaborations. It also includes the construction of an 11-story hospital and a new long-term care and skilled nursing facility. Those capital projects are being financed by proceeds of a successful bond sale and with savings.
The MetroHealth System, Cuyahoga County’s public health system, is honoring its commitment to create a healthier community by building a new hospital on its main campus in Cleveland. The building, and the 25 acres of green space around it, are catalyzing the revitalization of MetroHealth’s West Side neighborhood.
MetroHealth will break ground on the new hospital in early 2019, using nearly $1 billion it borrowed on its own credit after dramatically improving its finances. In the past five years, MetroHealth’s operating revenue has increased by 44.5 percent and its number of employees by 21 percent. Today, its staff of 7,700 provides care at MetroHealth’s four hospitals, four emergency departments and more than 20 health centers and 40 additional sites throughout Cuyahoga County. In the past year, MetroHealth has served 300,000 patients at more than 1.4 million visits in its hospitals and health centers, 75 percent of whom are uninsured or covered by Medicare or Medicaid.
The health system is home to Cuyahoga County’s most experienced Level I Adult Trauma Center, verified since 1992, and the only adult and pediatric burn center in the state of Ohio.
As an academic medical center, MetroHealth is committed to teaching and research. Each active staff physician holds a faculty appointment at Case Western Reserve University School of Medicine and its main campus hospital houses a Cleveland Metropolitan School District high school of science and health.
For more information, visit metrohealth.org.
At Bank of America, we are guided by a common purpose to help make financial lives better, through the power of every connection. We are delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Connect with us on Twitter (@BofA_News).
Tina Shaerban Arundel, Public and Media Relations Manager, The MetroHealth System
Diane Wagner, Bank of America