October 26, 2014 1:59 AM ET

Healthcare Providers and Services

Company Overview of Detroit Medical Center, Inc.

Company Overview

Detroit Medical Center, Inc. operates hospitals that provide clinical care, healthcare research, and medical education services in Southeast Michigan. The company offers services in various specialties, such as cardiology and heart care, orthopaedics, neurosciences, radiology, sports medicine, vascular care, weight loss/bariatric, and women’s health. Its services include back and spine care, bariatrics/weight loss treatment, bones and joints care, cancer care, cardiology/heart care, cosmetic and plastic surgery, diabetes/metabolism care, neurology, digestive health, emergency/trauma care, eye care, interventional radiology, kidney and liver disease care, lungs and breathing care, neurosurger...

3990 John R Street

Detroit, MI 48201

United States

Founded in 1985

Phone:

313-745-5004

Fax:

313-966-2040

Key Executives for Detroit Medical Center, Inc.

Chief Executive Officer
Age: 50
Chief Financial Officer
Chief Operating Officer
Chairman of the Board of Vanguard Health Systems Inc and Chief Executive Officer of Vanguard Health Systems Inc
Age: 71
President of Dmc Sinai-Grace Hospital and President of Harper-Hutzel Hospital
Compensation as of Fiscal Year 2014.

Detroit Medical Center, Inc. Key Developments

Detroit Medical Center Opens DMC Heart Hospital

Detroit Medical Center will open its new Heart Hospital on August 4, 2014. The $78 million, facility will offer patients comprehensive cardiovascular care, including a wide range of the latest minimally invasive treatment options and preventive services. The heart hospital expands DMC's role as a leading provider of cardiovascular care in the region and furthers its commitment to the people of Detroit, where heart disease is the leading cause of death. Located on an eight-acre site at the south end of the DMC campus and connected to Harper Hospital, the new, 215,000-square-foot, six-story structure will be one of the Great Lakes region's first dedicated cardiovascular care facilities. The Heart Hospital will include six catheterization labs and other procedure rooms to perform an array of minimally invasive treatments to open and repair heart arteries, treat heart rhythm abnormalities and restore blood flow to the legs. The facility also will have advanced imaging technologies, electrocardiogram and stress testing to diagnose cardiovascular disorders. The Heart Hospital will be home to the DMC Cardiovascular Institute, the center for all of DMC's heart and vascular specialists, including its team of interventional cardiologists, known as Cardio Team One, on-site 24 hours a day, seven days a week. Cardio Team One has cut the door to balloon time in half for heart attack patients, from a national average of 90 to 45 minutes, in order to open their blocked arteries sooner to prevent heart damage and death. Before the opening of the Heart Hospital, all of DMC's cardiovascular care has been provided at DMC Harper University Hospital. The 2014-2015 US News & World Report Best Hospitals issue recently recognized Harper Hospital as a high performing facility for cardiology and heart surgery. In addition to cardiovascular services, the Heart Hospital will have a retail pharmacy, physician offices and a new parking structure with more than 1,700 spaces. The building is designed for the comfort of patients, their families and visitors with a cafe, spacious waiting areas and landscaped outdoor gardens.

Detroit Medical Center Appoints Larry M. Gold as President of Children's Hospital of Michigan

Detroit Medical Center, Inc. announced that Larry M. Gold will become the new president of the Children's Hospital of Michigan, effective January 1, 2014. Gold brings 23 years experience in leading children's hospitals and pediatric specialty care to his new role at the Children's Hospital of Michigan. Children's Hospital of Michigan Board Chair Erica Ward Gerson led a team in an extensive international search for the position. Gold most recently served as president of British Columbia Children's Hospital and Sunny Hill Health Centre, in Vancouver, BC, Canada. Among his many achievements there, Gold spearheaded the planning and development of a $700 million replacement hospital using LEAN design for British Columbia's only dedicated acute care children's hospital. Gold has also served as a consultant on international pediatric acute care delivery models and as a key advisor on the design and construction of the world's large pediatric cancer hospital, a 200-bed facility in Cairo, Egypt. In addition to his leadership at British Columbia Children's Hospital, Gold previously served as president and chief executive officer at Connecticut Children's Medical Center and Newington Children's Hospital in Hartford, Conn., and as administrator of the Children's Hospital of Illinois at OSF Healthcare in Peoria, Ill.

The Detroit Medical Center to Lay Off 300 Non-Medical Employees

The Detroit Medical Center announced that the company is laying off 300 non-medical employees, cutting the salaries of its top executives and making other cuts as a result of the federal sequestration. In a letter to employees, physicians and board members, the company said the DMC is facing a revenue shortfall as a result of the 2% sequestration of Medicare funds and further reductions in payments from the state Medicaid program to hospitals. The impact of the sequestration on the DMC is estimated to total $12 million to $15 million. Corporate executives at the vice president level and above will have their salaries cut for the fourth quarter. The DMC will also reduce and realign staff levels by approximately 2% in corporate, administrative and other hospital areas that do not affect patient care. The system is also suspending all vacation accrual for the fourth quarter.

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