AKRON, Ohio (AP) — The Cleveland Clinic's new minority ownership deal with Akron General Health System will give it the option to take control of the hospital in just a year.
The Akron Beacon Journal (http://bit.ly/1sktwwM ) reports that the $100 million deal is a six-year agreement.
Akron General President and Chief Executive Dr. Thomas Stover tells the newspaper that he thinks the goal of both sides is to have the Cleveland Clinic take full ownership.
The Akron hospital has been looking for a larger system to partner with because of the financial challenges within the health-care industry. It has about 5,000 employees.
Information from: Akron Beacon Journal, http://www.ohio.com