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TOLEDO, Ohio (AP) — An agreement linking the University of Toledo's medical college with a northwestern Ohio-based nonprofit health system will generate millions of dollars for the school, officials said.
Under the agreement recently authorized by the boards of trustees for the university and ProMedica, the health system will change its mission statement to put academics at the forefront. It will create an academic medical center at ProMedica Toledo Hospital and Toledo Children's Hospital, where university medical students and residents will receive training.
The agreement calls for ProMedica to provide the medical college with $250 million for construction at the health system's sites and the university's health science campus. The first $100 million is slated to be spent on projects by 2027.
"This is actually a pivotal point in the entire community and region's perspective," Randy Oostra, ProMedica's president and CEO, said. "This is one of these things we think you look back at five to 10 years from now and say, 'That's one of the best things we've ever done.'"
University officials also praised the agreement, saying it will expand training and open up research opportunities.
"This is really all about delivering exceptional medical training, which is the key to our mission," university board chairman Sharon Speyer said.
Officials said there isn't a specific plan on where the money will be spent, but they are considering constructing new buildings on campus and creating academic space in ProMedica facilities.
A six-member governing board will oversee the agreement's implementation and consider master planning efforts at the university and ProMedica as it considers projects.
ProMedica has hospitals in northwest Ohio and southeast Michigan.
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