University Hospitals to gain minority interest in Western Reserve Hospital
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University Hospitals has entered into an agreement with Western Reserve Hospital to obtain a minority interest in the independent, physician-owned hospital in Cuyahoga Falls.
The Cleveland-based health system will work with Western Reserve Hospital’s board of directors, physicians, leadership and employees to bring investments and cost efficiencies to the Summit County hospital, including enhancements to facilities, equipment and services, according to a news release. UH has also pledged to bring technology, innovative practices, strong clinical research and other initiatives to complement and grow Western Reserve Hospital’s clinical programs.
Terms of the deal were not disclosed.
“We look forward to the benefits of this new relationship with University Hospitals, and the opportunity to deliver our one-of-a-kind health care experience to even more patients across the region,” Dr. Robert Kent, president and CEO of Western Reserve Hospital, said in a provided statement. “Since Day One we have been working to increase access to a higher level of care services for our local communities, and this collaboration with University Hospitals will allow us to further that work by bringing even greater clinical sophistication to Summit County.”
Western Reserve Hospital was founded and is majority-owned by Western Reserve Hospital Partners, a group of more than 100 Northeast Ohio primary care physicians and specialists, according to a the release. Western Reserve Hospital — a full-service, acute-care hospital with 89 staffed beds — represents the 19th hospital in the UH network. UH also has more than 50 outpatient health centers across 16 counties in Northeast Ohio.
Cleveland Clinic has stretched south in recent years with its acquisitions of Akron General in 2015 and Union Hospital in Dover in 2018. Last year, the Clinic and Sisters of Charity Health System signed a letter of intent to explore the possibility of Mercy Medical Center in Canton joining the Clinic.
The affiliation between UH and Western Reserve Hospital will lead to expanded services and more options for Western Reserve Hospital patients, as well as better access to the quaternary care and clinical trials at UH’s academic medical center, Dr. Cliff Megerian, UH President, said in the release.
“UH is pleased to extend care close to home for our Summit County patients through our new relationship with Western Reserve, a hospital that has demonstrated excellence and shares our vision to provide the most advanced care, compassion and value,” said Megerian, who will become UH CEO in January, in a provided statement.