Cleveland Clinic to become a minority owner of Akron General - 19 Action News|Cleveland, OH|News, Weather, Sports

Cleveland Clinic to become a minority owner of Akron General

Posted: Updated:
Cleveland Clinic becoming minority owner of Akron General. Cleveland Clinic becoming minority owner of Akron General.
CLEVELAND, OH (WOIO) -

 

Cleveland Clinic will invest in and become a minority owner of Akron General Health
System, making Akron General its exclusive health system partner in Summit County.

This transaction will combine the clinical expertise and resources of Cleveland Clinic and
Akron General to strengthen and improve access to high-quality, affordable healthcare
services for patients in the region.

"This agreement has been a long time in the making, and through the process, we have come to truly understand and respect each other's strengths. We know that it is the right fit for both of our organizations and the communities we serve." said Toby Cosgrove, M.D., President and CEO, Cleveland Clinic.

Both organizations are committed to the development of a long-term, mutually beneficial
partnership that will grow over time.

As a provision of the agreement, Cleveland Clinic will make a substantial capital
investment in Akron General Health System. In addition, the organizations will have
representation on the other's Board. It was important to both organizations that there
continue to be Akron-based governance and management leadership.

 

Like 19 Action News on Facebook for the latest news, weather, sports and giveaways.

Copyright 2014 WOIO. All rights reserved

Powered by WorldNow