HOSPITALS

Clinic invests $6 million

in Akron oncology care

Cleveland Clinic Akron General has invested more than $6 million in two new linear accelerator, or LINAC, devices. The state-of-the-art technology delivers highly accurate radiation treatments to cancerous tumors while sparing surrounding tissue. The first one went online in the fall of 2018, and the second one went live in May.

The machines allow cancer patients to receive very precise, shorter and more intensive courses of radiation therapy at each visit with no additional risk of unwanted side effects.

Akron General’s $6 million investment includes the two new LINACs as well as improvements to the radiation oncology suite, including upgraded control rooms and mechanical updates.

EVENTS

Athena lunch to focus

on foundation grants

The Athena Akron women's leadership forum will discuss foundation grants at its member luncheon at 11:30 a.m. June 7 at Portage Country Club, 240 N. Portage Path, Akron. Presenters include Margaret Medzie of the Akron Community Foundation, Heather Clayton Terry of the Dominion Energy Charitable Foundation and Amy Wong of Dot Org Solutions. Cost is $35 for members, $25 for member-accompanied guest and $45 for all other nonmembers. For reservations or more information, go to www.athenaakron.org.

ACQUISITIONS

Sports Illustrated sold

to Authentic Brands

Sports Illustrated magazine has been sold for $110 million to a company that specializes in managing fashion, entertainment and sports brands, including marketing rights to Shaquille O'Neal and Muhammad Ali.

The seller, Meredith Corp., will continue running the print edition and the website SI.com for at least two years. Its editor and publisher are staying on, and the magazine will have editorial independence.

It's not clear what will happen after two years, though it's possible Meredith and the new buyer, Authentic Brands Group, could extend their licensing deal, terms for which weren't disclosed.

Payment processor buys

rival for $21.5 billion

Global Payments will buy Total System Services in an all-stock deal valued at $21.5 billion, the third major acquisition in the payment technology sector this year.

Traditional payment processors like Global Payments are consolidating as they compete increasingly with upstarts like PayPal and Square.

In March, Fidelity National Information Services said it would buy Worldpay for about $35 billion. In January, Fiserv bought First Data in a $22 billion all-stock deal.

ECONOMY

Consumer confidence

continues to climb

American consumers felt more confident this month, shrugging off a rocky stock market and heightened trade tensions between the United States and China.

The Conference Board, a business research group, says its consumer confidence index rose to 134.1 in May from 129.2 in April. The reading was the highest since November.