Summa Health System, Summit County’s biggest hospital system and largest employer, completed a deal in late September giving HealthSpan Partners a 30 percent ownership stake for $250 million. Cincinnati-based Catholic Health Partners (CHP) restructured the deal after the local Catholic Diocese leader refused to approve the partnership. Under the modified agreement, HealthSpan Partners, a secular, nonprofit auxiliary organization of CHP, made the investment in Summa. Around the same time, CHP’s HealthSpan also completed an acquisition of Kaiser Permanente, Ohio’s Northeast Ohio insurance business.
Defense industry giant Lockheed Martin in November announced it will close its Akron campus. The closure, expected to be finished in 2015, means the loss of about 500 jobs in Akron. The company will retain a small presence at the publicly owned Akron Airdock, where it has a long-term lease.
Amid intense shareholder pressure, Canton-based Timken Co. agreed to separate itself into two publicly traded bearings and steel companies.
Goodyear in March completed a relocation of its corporate headquarters into newly constructed seven-story facilities on Innovation Way, formerly Martha Avenue. The project developer was Stuart Lichter’s Industrial Realty Group of California. The new 639,000-square-foot headquarters cost about $160 million.
Akron General announced a tentative deal in August to sell the health system’s assets to a partnership between the Cleveland Clinic and Community Health Systems of Tennessee. If the deal goes forward, the Akron General name will stay but Cleveland Clinic branding will be added.
The neighborhood economic development nonprofit faces an uncertain future after a year that included the resignation of its executive director and cancellation of its $7.8 million in funds in a grant and loan.
Diebold Inc., the Green-based ATM maker, in January fired its longtime chief executive officer, Thomas Swidarski. In June, Diebold hired former Hewlett-Packard and Siemens executive Andreas “Andy” W. Mattes as CEO.
In May, Akron Children’s Hospital started a $180 million expansion. By February 2015, the 368,735-square-foot, seven-story addition will house a new emergency department, outpatient surgery center and 100-bed neonatal intensive-care unit, as well as a new unit for high-risk labor and deliveries.
Pittsburgh-based Giant Eagle expanded with a Market District concept in Green and Solon and announced it will build a new Market District in Cuyahoga Falls. Akron-based Acme Fresh Market rebuilt its Cuyahoga Falls store and is building its first new store in 20 years in Green.
Akron General Health System laid off 132 workers in February as part of cost-cutting measures and another 30 in September. Summa Health System also laid off 58 workers, reduced the hours of 46 employees and opted not to fill 132 open positions in September as part of its ongoing efforts to lower expenses. The move followed the layoffs of 54 workers in January.