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Health and Medicine

Cleveland Clinic deal includes a "substantial" investment in Akron General
Second go-round for Cleveland Clinic-Akron General deal is the latest consolidation of hospitals in Northeast Ohio

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M.L. Schultze
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In The Region:

The Cleveland Clinic is becoming a minority partner in Akron General Health System. The letter of intent was announced today. WKSU’s M.L. Schultze has more on the latest in a series of consolidations of hospitals in Northeast Ohio.

LISTEN: Cleveland Clinic and Akron General affiliation

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Neither the Clinic nor Akron General is talking publicly about the financial details. But the deal keeps the Akron hospital system a nonprofit, puts members of both organizations on each other’s boards and includes a pledge by the Clinic to make “a substantial capital investment.”

Akron General CEO Thomas “Tim” Stover says the system has upgraded outpatient and wellness centers but the core hospital need upgrades, and going-it-alone is no longer an option. 

“Even health care systems our size – we’re still among the largest 10 percent in the country – are going to find it difficult to remain independent in view of the healthcare reform.” 

This is the second attempt by Akron to find a partner. The first would have involved the national for-profit Community Health Systems as well as the clinic. That proposal collapsed in January. Two other mergers and partnerships of Northeast Ohio hospital systems have been announced in the last year: Summa is going together with Catholic Health Partners and Robinson Memorial is becoming part of University Hospitals.

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