Cleveland Clinic and Akron (Ohio) General Health System have struck an agreement under which the Clinic will become a minority owner of Akron General.
The two organizations originally signed a letter of intent to enter into an agreement in June. Under the agreement, Akron General will also become the Clinic's exclusive health system partner in Summit County, Ohio. The Clinic will also make a substantial capital investment in the Ohio health system, and the organizations will each have representation on the other's board.
Furthermore, Akron General physicians will be able to take part in the Clinic's Quality Alliance, which enables collaboration between independent and employed physicians to improve care, reduce costs and increase efficiency.
"For 100 years, Akron General has provided critical healthcare services to the people of Akron, Summit County and the surrounding region," said Toby Cosgrove, MD, president and CEO of the Clinic. "Today, Cleveland Clinic is proud to welcome Akron General as a valued affiliate of our organization. Working together, we will enhance healthcare quality, access and service in the region, ensuring Akron General's mission of improving community health."