UH and Metro Feel E Ects of Trauma Center
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VOL. 37, NO. 50 DECEMBER 12 - 18, 2016 Business of Life Source Lunch Publications’ news is Andrew Brickman a big deal in a few local discusses real estate, neighborhoods. Page 19 Tinseltown. Page 20 BEACON BeachA Cliff B C | F Docket’s future CLEVELAND BUSINESS Specialty court isn’t dead yet. Page 7 A PHILLY NATIVE AND A REALCLEVELANDER DECIDEESTATE TO MAKE DEVELOPMENT ROCKY RIVER THEIR HOME. Get to know the Weinberger Forestfamily better on pages 32-33. City takes di cult, necessary step ‘Clawback’ By STAN BULLARD ing families the Millers and Shafrans point with investors for at least ve have used to control the company years. It was an issue even before is sought [email protected] since it went public in 1961. Moreover, 2015 when Michael Bilerman, Citi @CrainRltywriter the national mega-developer of today REIT analyst, asked at the compa- is descended from a 96-year-old local ny’s annual REIT conference about on several Liken Ratner family consideration of company that is older than the iconic the dual share structure and called it giving up its minority shareholder con- symbol of the city which, at least for “a distraction” from the rest of the tax credits trol of Forest City Realty Trust to a yards- now, holds its headquarters. company’s story. And in the end, the wide crack erupting across dozens of Although Scopia Capital Manage- founding families acceded to the By JAY MILLER oors on the outside of Terminal Tower. ment LP of New York, which holds weight of Wall Street. e Class B Forest City leadership at is how epic undertakings are at 17.9 million shares, some 7% of the shares held by members of the after Charles Ratner [email protected] Forest City Realty Trust as the Ratner company’s shares outstanding, took founding families have 10 votes for @millerjh family agreed Tuesday, Dec. 6, to ask the push publicly to update the each director compared to one for Who will take over when longtime shareholders to collapse the dual-share company’s governance to one share, each Class A shareholder. head Charles Ratner retires? We chart While most Northeast Ohio com- structure the Ratners and other found- one vote in August, it’s been a sore SEE RATNER , PAGE 22 the succession plan. Page 23 panies are meeting their commit- ments under financial incentive agreements with state and local agencies, a handful are failing to HEALTH CARE achieve the capital investment or job creation goals they agreed to, according to recently released re- ports. Government economic develop- ment agencies annually review the performance of their grantees and may reduce or rescind a tax credit or raise the interest rate on a loan if a company falls short of its commit- ments. UH and Metro e most comprehensive report is one issued late last month by the of- ce of Mike DeWine, the Ohio attor- feel e ects of ney general. at report, the “2016 Report to the General Assembly on Compliance with State Awards for trauma center Economic Development,” reviewed 329 awards made by the Ohio Devel- opment Services Agency (ODSA) and found that companies were meeting Impact has been signifi cant their commitments in 84.8% of the awards. since UH added Level 1 unit at report found that 11 North- east Ohio companies receiving in- iStock centive agreements were not meet- ing the goals of those agreements. By LYDIA COUTRÉ ing two Level 1 centers will be mea- ly surprised that the center, which said, referencing MetroHealth’s re- For example, AlSher Titania LLC, suring outcomes. Data for that won’t opened Dec. 1, 2015, will far surpass cently announced plan to replace its a Cleveland maker of titanium pig- [email protected] be available until early next year. that, having admitted nearly 1,500 pa- aging patient towers with a new hos- ments, received a $150,000 infra- @LydiaCoutre “My concern — and this needs to tients through October. pital and move forward with its cam- structure grant from ODSA in 2011. be seen — is what is the trauma mor- MetroHealth saw a 27% drop in pus transformation on its own credit. In accepting the grant, the com- About a year after University Hospi- tality rate?” MetroHealth president trauma activations, which Boutros e trauma numbers have reached pany committed to hiring 201 peo- tals opened the region’s second Level 1 and CEO Dr. Akram Boutros said. said translated to a $35 million loss in a plateau and have been stable for ple. adult trauma center, the initial e ects “What’s happened to it in our region. revenue, much higher than the $20 the past six months, Boutros said. According to the attorney gener- on both UH and MetroHealth — previ- Did it get better? at’s what the million it predicted. But he is quick to In January through October of this al’s report, the company created ously the only such trauma location — promise was.” note that the system has grown in year, MetroHealth had 4,188 trauma only one job. As a result, the state have been greater than expected. For a Level 1 designation, UH’s trau- other ways so the loss won’t hurt the activations — meaning people it saw agency is seeking the return of the UH was surprised by how many ma center needs to see a minimum of organization. ough it’s not without and discharged from the emergency grant, called a “clawback” in the patients it saw, while MetroHealth 1,200 patients, which the system was its issues, the system can handle the department, or admitted — com- economic development world. e took a greater hit to its nances than con dent it could reach, said Dr. Mi- loss, he said. pared to 5,737 for the same time span report notes that the repayment is expected. chael R. Anderson, UH chief medical “We as a hospital can deal with the in 2015. due Dec. 15. e true test of the success of hav- o cer. But he said they were pleasant- dollars — clearly we can,” Boutros SEE TRAUMA , PAGE 21 SEE TAX , PAGE 22 Entire contents © 2016 by Crain Communications Inc. Middle Market report Assistance funds aid workers during trying times. Page 15 Adviser, Tax Tips Page 16 Third Federal really buys into the act of giving back. Page 18 THANK YOU for a Great Season! 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For Event Information and More Visit IXCenter.com Whether you’re planning an event for 50 to 50,000, it’s all at the I-X Center. Contact us today at 216.265.2673 or [email protected] ixcenter.com One I-X Center Drive IX CENTER 216.265.7000 Cleveland, OH 44135 CRAIN’S CLEVELAND BUSINESS | DECEMBER 12 - 18, 2016 | PAGE 3 UH uses crowdfunding for hydration device By LYDIA COUTRÉ How the device works get it at the same rate as those in the couple of weeks, Rose expects. But it developing world, but kids here have still needs clinical trials, further mar- [email protected] People in need of non-oral hydration currently are given an IV, which requires a access to health care to get an IV to ket research and a commercial part- @LydiaCoutre trained medical professional. An individual with little to no medical training rehydrate. ner. would be able to use this device and help rehydrate children or adults. An increase in oral rehydration “We’re trying to identify the cor- Dr. Johnie Rose, assistant profes- solution in the world’s poorest set- rect commercial partner, because sor at Case Western Reserve Univer- 1. The device is placed on the tings has helped to decrease diar- there’s some different applications sity, believes the technology he’s de- back or abdomen and a silicone- rhea-related mortality in children besides the Third World,” said Ste- veloped could help people save the like material (A) covering the base under 5 from 4.6 million deaths in phen Behm, UH’s director of tech- lives of thousands of children around is adhered to the skin with an 1980 to 760,000 now, according to nology management. “We’re trying the world — once he can get it into adhesive. 2013 data from the World Health Or- to identify and get a better under- their hands. ganization. standing of the markets to identi- “Right now, we’re in a holding pat- e subset of the sickest children fy.” tern because there’s not the nanc- for various reasons aren’t helped by at could include rst respond- ing to do those trials,” said Rose, oral rehydration, but need parenteral ers, military, the elderly or even for who’s also the director of the Preven- or non-oral hydration, such as an IV.