Akron General Health System is leveraging its 15 years in the health and wellness business to develop an additional revenue stream and to help health systems, universities and municipalities to create or update their health and wellness programs and centers.
Akron General, Akron, OH, has entered into a joint venture with Signet Development, Akron, to create Integrated Wellness Partners, a for-profit company that will develop wellness centers for facilities around the country. Both groups have a 50 percent stake in the new company.
“We’ve been planning for this day for five years,” said Thomas Stover, president of outpatient services at Akron General. “And we’ve been preaching health and wellness for 15 years. Now, we have the partner to help us take these concepts to another level.”
Signet Development, Akron, is a developer of public and private real estate projects. It offers turn-key development services and financial strategies. Signet will handle a variety of duties for new clients, including project management services, legal structuring, creative finance strategies and all underwriting activities.
Akron General opened its first health and wellness center in 1996 and its second in 2007. The hospital system will open a third one next year, and this past spring it announced a partnership with the city of Broadview Heights, OH, to develop a medical fitness center. The facilities have a medically supervised fitness center as well as a full range of diagnostic, treatment and rehabilitation centers.