Business News & Notes
By Stephanie Kist
Summa acquires Barberton
Citizens Hospital
AKRON/BARBERTON — Summa Health System has completed its acquisition of Barberton Citizens Hospital from a subsidiary of Tennessee-based Community Health Systems. The acquisition, part of Summa’s strategic plan to expand services and create greater value through regional collaboration and expansion, increases the number of hospitals in its system to six.
Summa entered into negotiations to purchase Barberton Citizens Hospital in September. There are no plans to make any changes to hospital leadership or to eliminate employees, according to Summa officials. The search for a successor to Barberton Citizens Hospital President and Chief Executive Officer (CEO) Willard Roderick, who recently announced plans to retire effective May 31, will begin in the near future.
“When we began our negotiations to acquire Barberton Citizens Hospital earlier this year, we did so with two core beliefs,” said Tom Strauss, Summa president and CEO. “First, the hospital is a tremendous community asset, and by working together we can continue to evolve the wonderful care that it provides for the people of Barberton. Second, given our existing minority ownership stake in the hospital, adding it to our system is a strategically important and sound business decision as we continue to meet our goal of regional growth.”
“We’ve had a long relationship with Barberton Citizens Hospital going back several years, when we became minority shareholders in that hospital when they were sold to a for-profit system,” said Tom Knoll, president of the Summa Health System Board of Directors. “We’ve had an ongoing synergy with them in terms of providing services and also receiving referrals from their hospital, and I think we have a natural relationship with them going into this transaction. It is an opportunity for us to provide for the people of Barberton the ability to recreate a not-for-profit institution to serve their health care needs in that community.”
Akron Means Business launched
DOWNTOWN AKRON — Kaeth Shaughnessy Gauthier and Frank Gauthier have announced the launch of Akron Means Business, a subdivision of PML Publishing. Akron Means Business includes a free magazine, Web site and monthly meetings at the old No. 3 firehouse at 60 S. Maple St.
On Dec. 10, Akron Means Business will host an open house event at No Minimum Printing (located on the first floor of the firehouse). This event is open to all local businesses, though online registration is required via www.akron meansbusiness.com.
The goal of Akron Means Business is to tell Akron-area business stories, explain why they need their customers, what inspired them and how long they have been in business. Some of the features that will be available to businesses include: Around the Corner, a spotlight on local business; Made in Akron; My Brother’s Phonebook, personal recommendations for goods and services; and a community events calendar.
Businesses interested in membership must meet the following requirements: They should sell a product or service in the Greater Akron area, display the Akron Means Business Magazine at their place of business and link to the Web site on their company’s site.
For details, visit the Web site or call (330) 294-0234.
TeleCommunity Credit Union
acquires A/C Credit
Union
AKRON — TeleCommunity Credit Union, an Akron-based financial co-op, announced Nov. 26 it has acquired the A/C Credit Union. The merger will be complete Dec. 31.
Commencing Jan. 1, the two credit unions will operate under the name TeleCommunity Credit Union. Users of both credit unions will see no change to their day-to-day services; instead, they will receive new, enhanced services, according to company officials.
These new services include shared branching, additional locations, 24-hour Web-based lending, better rates for consumer-based loans and more benefits to be announced by the first quarter of 2008. TeleCommunity also will offer additional small-business banking services that will include small-business loans, insurance and payroll services.
“A/C Credit Union brings a rich history by serving all residents in the Copley, Fairlawn, Richfield and Bath areas,” said Jack Sarver, president and chief executive officer. “The credit unions have experience with serving people from large organizations like Ohio Bell, Consolidated Freightways and Sterling Jewelry.”
More information on the credit union can be found at www.telecommunitycu.com or by calling Sarver at (800) 257-6835.
USDA designates counties as
natural disaster areas
SUMMIT/MEDINA COUNTIES — The U.S. Department of Agriculture (USDA) designated 73 Ohio counties as primary agricultural natural disaster areas, making certain farmers and other agricultural producers in the counties eligible for low-interest emergency loans from USDA’s Farm Service Agency (FSA).
Medina is among the counties designated as primary natural disaster areas due to damages and losses caused by drought and extreme heat conditions that began April 15.
Summit County also is eligible because it is contiguous to Medina County.
All of the counties were designated natural disaster areas Nov. 26, making all qualified farm operators in the designated areas eligible for low-interest emergency loans, provided eligibility requirements are met.
To qualify, farmers must be unable to obtain credit from commercial sources.
Farmers in eligible counties have eight months from the date of the declaration to apply for loans to help cover part or all of their actual losses. FSA will consider each loan application on its own merits, taking into account the extent of losses, security available and repayment ability.
FSA has a variety of programs in addition to the emergency loan program to help eligible farmers recover from adversity. USDA also has made other programs available to assist farmers, including the Emergency Conservation Program, Federal Crop Insurance and the Noninsured Crop Disaster Assistance Program.
Interested farmers should contact their local FSA office for further information. The Medina County office can be reached at (330) 722-2628, ext. 2. Summit County is served by the Portage County office in Ravenna and can be reached at (330) 296-4311.
Cuyahoga Falls gets Chick-fil-A
Restaurant
CUYAHOGA FALLS — Chick-fil-A, celebrating its 40th anniversary this year, opens its first stand-alone restaurant in Cuyahoga Falls today, Dec. 6.
A one-year supply of free Chick-fil-A Combo Meals was awarded to each of the first 100 adults lined up at the new location at 420 Howe Ave.
“Chick-fil-A’s raving fans have turned our grand openings into overnight tailgate parties, often arriving 24 hours in advance with tents, TVs, sleeping bags, games, computers and other gear to spend the night,” said Chick-fil-A Inc. President Dan Cathy, son of chain founder Truett Cathy.
Truett Cathy invented the Chick-fil-A boneless breast of chicken sandwich in his Dwarf Grill diner near Atlanta in the early 1960s. The sandwich, with its signature pickle slices, became so popular that Cathy opened his first Chick-fil-A restaurant in Atlanta’s Greenbriar Mall in 1967.
Erich Weiss, a local native and
graduate of The Ohio State University with a juris doctorate,
has been selected as the franchisee/owner operator of
the new location. He will give up his current Chick-fil-A
restaurant at Beachwood Place
Mall this month, when another operator will take over
the location.
The new Chick-fil-A restaurant
features an indoor playground and drive-thru service.
The restaurant is open Mondays
through Saturdays from 6:30 a.m. to 10 p.m. Truett Cathy
always has closed his restaurants on Sundays to provide
employees time with their families or to worship, if
they choose, according to company officials.
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