Cleveland Clinic in talks to acquire Akron General Health System
5:57 PM, Aug 22, 2013
AKRON, Ohio - Akron General Health System entered into talks with the Cleveland Clinic and a Tennessee-based hospital group.
Akron General announced on Thursday it signed a non-binding letter to explore a partnership with the clinic and Community Health Systems Inc.
"We are thrilled to announce that Akron General Health System has entered into discussions that we believe will lead to a transformative and strategic partnership with two outstanding, nationally renowned healthcare organizations, Community Health Systems and the Cleveland
Clinic," said Thomas L. Stover, president and CEO of Akron General Health System in a statement on Thursday.
The next step means Akron General will form a special committee of its board. The hospital said during the negotiations, they will discuss capital investigations, recruiting new doctors and maintaining charity care.
"We are pleased to announce this affiliation with Akron General Health System. Cleveland Clinic has long-served patients from the Akron area, and this will allow us to expand our clinical services in the region as Community Health Systems grows its presence in the state," said Toby M. Cosgrove, president and CEO of Cleveland Clinic. "For Akron General, this partnership means access to tremendous resources as it continues to deliver on its mission of providing high-quality healthcare services to patients."
Community Health Systems Inc. includes more than 130 affiliated hospitals in 29 states, including four in Ohio.