Displaying items by tag: Merger

Longtime head football coach for the Garfield Golden Rams Bob Sax stepped down as the head coach after 15 seasons at the helm.

Both Kenmore High School and Garfield High School will merge next fall (Fall of 2017) and they will be looking for a new leader.

Akron Public Schools Athletic Director Joe Vassalotti spoke with Sam and Brad on Monday to talk about that process.

He plans on teaching mathematics at Kenmore/Garfield next year.  

The merger of Huntington Bank with Akron-based FirstMerit won't include 11 branches in Stark County.

The U.S. Department of Justice says those FirstMerit branches - along with two more in Ashtabula County - will be sold off as part of the pending approval of Huntington's $3.4 billion purchase of FirstMerit.

Huntington says it'll announce a buyer for those 13 branches after all the federal approvals of that sale are done.

The list of affected branches is linked below.

The overall deal is expected to be completed by the end of September.

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(U.S. Department of Justice, news release) The Department of Justice announced today that Huntington Bancshares Incorporated and FirstMerit Corporation have agreed to sell 13 branches in Northeast Ohio, with approximately $737.8 million in deposits, to resolve antitrust concerns that arose from Huntington's planned acquisition of FirstMerit. As a result of the acquisition, Huntington will become the largest bank in Ohio based on deposits.

Under their agreement with the department, the companies have agreed to divest two branches in Ashtabula County and 11 branches in Stark County, Ohio. The divested assets will include the deposits and loans associated with the divested branches. The companies have also agreed to suspend existing, and not to enter into new, non-compete agreements with their branch managers and loan officers located in Ashtabula County and Stark County, Ohio, for a period of 180 days following the consummation of their merger. Further, the companies have agreed to sell or lease branches closed within two years of the consummation of the merger in Ashtabula County or Stark County, Ohio, to FDIC-insured depository institutions offering deposit and credit services to small businesses.

"Families and small businesses rely on banks in their communities to keep their money safe and provide them credit for important purchases and investments," said Principal Deputy Assistant Attorney General Renata Hesse of the Justice Department's Antitrust Division. "Today's settlement protects banking customers in Ashtabula County and the Greater Canton area by ensuring that they continue to have access to competitively priced banking products."

The proposed merger is subject to the final approval of the Board of Governors of the Federal Reserve System. The department said that it will advise the Federal Reserve Board that it will not challenge the merger provided that: the parties divest the branch offices, associated loans and deposits and the entire customer relationships associated with the divestiture branches; the parties commit to the Federal Reserve Board that they will comply with the agreement with the department; and the parties' commitments to the department are included as a condition to any order the Federal Reserve Board enters allowing the transaction.

Huntington is the holding company of The Huntington National Bank, Columbus, Ohio, with approximately $73 billion in assets. Huntington operates more than 750 branches and 1,500 ATMs in Ohio, Indiana, Kentucky, Michigan, Pennsylvania and West Virginia. Huntington specializes in full-service commercial, small business, and consumer banking services, as well as services ranging from mortgage banking to equipment leasing.

FirstMerit is the holding company of FirstMerit Bank, N.A., Akron, Ohio, with approximately $26.1 billion in assets. With about 370 branches and 400 ATMs in Ohio, Illinois, Michigan, Pennsylvania and Wisconsin, FirstMerit provides a large range of banking and other financial services to consumers and businesses.

It's official - Akron General Health System is now fully owned by Cleveland Clinic.

The deal was announced earlier, but Cleveland Clinic says it now owns the Akron-based system after a review by the Federal Trade Commission and the Ohio Attorney General.

Akron General first became an affiliate of the Cleveland Clinic system. The Cleveland Clinic then exercised an option to fully purchase the Akron General System.

Akron General president/COO Alan Papa says that the Clinic looks forward to being in the Akron community...

"They're looking at Akron as its own market," Papa tells WAKR.net, "We have our own ambulatory programs, and our own physicians, and I think you'll see that they will treat us really like another arm of the Clinic."

Akron General has already pointed to some benefits of the merger, including a new emergency department which will be built in the next couple of years.

Akron General's board of trustees will still have an advisory role, and officials say the merger will allow expansion of services in Summit County.

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(Cleveland Clinic, news release) AKRON GENERAL HEALTH SYSTEM JOINS CLEVELAND CLINIC

Agreement includes Akron General Medical Center, Lodi Community Hospital, Edwin Shaw Rehabilitation Institute, Wellness Centers, the Justin T. Rogers Hospice Care Center, Partners Physician Group and Visiting Nurse Service and Affiliates

Monday, Nov. 2, 2015, Cleveland: Today, Akron General Health System officially became fully part of Cleveland Clinic, following the review of the Ohio Attorney General and the Federal Trade Commission.

As part of the agreement, the entire Akron General Health System – including Akron General Medical Center, Lodi Community Hospital, the Edwin Shaw Rehabilitation Institute, three Health & Wellness centers, the Justin T. Rogers Hospice Care Center, Partners Physician Group (PPG), and Visiting Nurse Service and Affiliates – will join Cleveland Clinic.

"This is a momentous day for healthcare in Ohio," said Toby Cosgrove, M.D., President and CEO of Cleveland Clinic. "We are pleased to welcome Akron General into our health system and we look forward to developing and expanding services and enhancing access for patients throughout Northeast Ohio."

Now that Akron General is part of Cleveland Clinic, some of the immediate upcoming initiatives include integration planning, as well as:

Breaking ground for the new emergency department on Nov. 20, 2015. Construction will begin on the facility in the first quarter of 2016;

Opening a new outpatient facility in Portage County in the first quarter of 2016 and another in Lodi in 2016;

Replacement of Akron General's electronic medical record system to Epic, in order to enhance safety, quality, patient experience and reduce the overall cost of care. This will allow providers to have complete information for patients receiving care anywhere throughout the newly expanded system.

"This is an exciting time not only for our two health systems, but for the citizens in Summit and surrounding counties, who will benefit from improved access to high-quality, affordable healthcare services," noted Thomas L. "Tim" Stover, M.D., MBA, President and CEO, Akron General Health System. "Because both share the same goal of providing the absolute best patient experience, the joining of our systems was the next logical progression for Akron General. We are very excited about becoming Cleveland Clinic caregivers and look forward to expanding our services and improving our healthcare model so that we can provide even better care to our patients."

In order to maintain important local input, the Akron General Health System's board of trustees will remain in place as an advisory board going forward.

The affiliate relationship and continuous collaboration between Akron General and Cleveland Clinic has produced 17 work teams that have been collaborating on a number of initiatives resulting in clinical improvements, cost savings, and the sharing of best practices. Several mutually advantageous projects have commenced as well, and include:

The development of a new state-of-the-art emergency department at Akron General, which is expected to open in Fall 2017.

Cleveland Clinic cardiothoracic surgeon Joseph Lahorra, M.D., was the first Cleveland Clinic physician to begin practicing at Akron General as part of the affiliation in 2015. Dr. Lahorra sees patients as part of the comprehensive team at the Akron General Heart & Vascular Center.

Cleveland Clinic now provides ground and air transportation for critical care and trauma services for Akron General.

Patients in need of a kidney – and soon liver – transplantations are now able to see Cleveland Clinic physicians conveniently at Akron General and receive their pre-surgery and follow-up care after surgery in Akron.

Akron General was able to create two new infusion centers, one at the Akron General Health and Wellness Center – West, and the other at the Akron General Health & Wellness Center – North. These new infusion centers offer chemotherapy and other infusion services, such as rheumatology infusions. Another infusion center is set to open at the Akron General Health & Wellness Center – Green, by the end of 2015.

Akron General has seen a significant cost savings when it joined Cleveland Clinic's group purchasing organization, Excelerate. To date, Akron General has achieved an estimated $1.3M in savings with additional millions in savings expected.

Akron General is able to purchase new medical equipment that will link to a patient's electronic medical record, including monitors, ventilators, TV system, nurse call systems, and "smart" IV pumps. In addition, Akron General was able to add new nursery isolettes.

In addition to Cleveland Clinic's main campus, the Cleveland Clinic health system includes eight regional hospitals, more than 90 Northern Ohio outpatient locations – including 16 full-service family health centers – Cleveland Clinic Florida, the Lou Ruvo Center for Brain Health in Las Vegas, Cleveland Clinic Canada, and Cleveland Clinic Abu Dhabi.