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Health and Medicine


Cleveland Clinic to become minority owner of Akron General
Two nonprofits announce the deal today as hospital consolidation continues in Northeast Ohio
by WKSU's M.L. SCHULTZE


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M.L. Schultze
 
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In The Region:

The Cleveland Clinic plans to become the minority owner of Akron General Health System. 

The two nonprofits announced a letter of intent today, just five months after a similar deal collapsed that would have involved a for-profit national hospital giant as well. 

The new plan will make Akron General the Clinic’s exclusive partner in Summit County. The announcement says the Clinic is committing to making “a substantial capital investment” into Akron. And it will allow Akron’s doctors to participate in the clinic’s collaboration to cut costs while increasing quality and efficiency. Both healthcare organizations will have representatives on each other’s boards. 

The clinic has more than 3,000 full-time physicians and researchers and 11,000 nurses. Akron General operates the main hospital as well as the Edwin Shaw Rehabilitation Institute and other community health centers. 

In January, Akron announced it was calling off a plan to sell its assets to a joint venture of the Clinic and Tennessee-based Community Health Systems. The deal fell apart when CHS and the Clinic couldn’t come to partnership terms.

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