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UA board commits $4 million to orthopedic center; hospitals, NEOUCOM also expected to pledge funds
By Cheryl Powell
Beacon Journal medical writer
Published on Thursday, Sep 04, 2008
The University of Akron, the city's three hospital systems and the region's medical school are pledging millions of dollars to launch a joint research center for orthopedics.
The University of Akron Board of Trustees agreed on Wednesday to commit $4 million in cash and in-kind contributions during a five-year period toward the creation of the Orthopaedic Research Institute of Northeast Ohio.
The plan brings the partners together for education, research and clinical initiatives related to bone and joint problems.
The agreement calls for UA, Akron Children's Hospital, Akron General Health System, Summa Health System and the Northeastern Ohio Universities Colleges of Medicine and Pharmacy (NEOUCOM) to each contribute $800,000 annually for five years.
The partners' boards are considering the funding request, said Summa spokesman Mike Bernstein, speaking on behalf of the five partners.
The orthopedic research institute is part of a larger plan to bring the five partners together to form an academic health center to boost medical research, education and job creation in the region.
''All five organizations are extremely excited about the potential benefit to our community over the long haul,'' Bernstein said. ''We have made great progress as a group. It is our hope that we will have exciting news to share in the near future.''
The university and three hospital systems each are being asked to pledge at least $400,000 in cash each year for five years toward the orthopedic research initiative, while NEOUCOM will contribute at least $225,000 in cash annually, according to the resolution approved by university trustees on Wednesday. The rest of the partners' contributions will be ''in-kind capital contributions.''
The partners' buy-in is the next step in the ongoing effort to boost collaborative research in the region and potentially build a multimillion-dollar research center in Akron.
The Ohio Third Frontier Commission in May awarded the partners an $8.6 million state grant to recruit top researchers for two endowed research positions: one at the university and the other at NEOUCOM.
The state funding is contingent on the university securing additional funds, as well as firm commitments from the partners.
The partners are seeking grant support from the nonprofit John S. and James L. Knight Foundation, according to the university's resolution.
No decision has been made, a Knight Foundation spokesman said on Wednesday.
The Knight Foundation already is paying half the $881,200 cost to develop a business plan for the proposed academic health center. Akron and Summit County also are contributing $50,000 each.
''The Knight Foundation has been instrumental in its support of this project,'' Bernstein said.
Cheryl Powell can be reached at 330-996-3902 or chpowell@thebeaconjournal.com.
The University of Akron, the city's three hospital systems and the region's medical school are pledging millions of dollars to launch a joint research center for orthopedics.
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