Hamilton County approves sale of Drake Hospital property
Posted: 03/15/2012
CINCINNATI - The University of Cincinnati is expanding its horizons after its acquisition of Drake Hospital, which was finalized at a meeting with the Hamilton County commissioners Wednesday.
UC is getting Drake Hospital for $15 million, which the commissioners agreed to pay in a 2-to-1 vote at the meeting. The county has already sold much of the Drake Hospital property, located at 151 West Galbraith Road.
UC acquired an additional 42 acres of Drake’s property as a result of the decision. Commissioner Todd Portune said $15 million was a fair price for that land.
Hamilton County Auditor Dusty Rhodes was not in favor of selling the property because he said it was selling for a third of its value.
Commissioner Chris Monzel voted with Portune to sell the property, saying the money is needed to help with the ailing stadium fund.
Drake Hospital provides inpatient and outpatient services including medically complex care, ventilator weaning/pulmonary care and diagnostic services, skilled nursing, assisted living, wellness services and research.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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