Crain's Cleveland Business

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$2.00/SEPTEMBER 7 - 13, 2015

Northeast Ohio car dealerships are going all out when it comes to improving customer experience — P. 3

KeyBank is counting on affordable housing market to be a large driver of revenue going forward — P. 4

CONTRIBUTED PHOTO

A new University of Akron homepage banner, part of a branding campaign aimed at helping boost the school’s falling enrollment.

Akron enlists LeBron’s help James’ appearance will be one of the highlights of struggling university’s $800K-$900K campaign

five commercials that will run over the next five years as part of the deal the university recently forged with the NBA giant’s foundation serving Akron youth. “More people know Akron because of LeBron than any other reason,” University of Akron president Scott Scarborough told Crain’s. “We couldn’t pick a better person to try to give strength to the University of Akron brand than LeBron James, even though he didn’t go to college. He is Akron outside of Akron.” The optics of the situation are, of course,

You don’t have to be profitable to borrow money. At least three local technology companies have raised debt capital over the past few months, even though they’re still in the red and often have few physical assets. And these aren’t the “forgivable” loans that startups sometimes get from economic development groups. We’re talking about debt that comes with “big-boy payments” — the kind you have to make before you pay your own employees, according to Adam Roth, CEO of StreamLink Software in Cleveland. But he’s OK with that. StreamLink just received a $2 million line of credit from Cincinnati-based SaaS Capital, one of a small-but-growing number of lenders that will do what are often referred to as “venture debt” deals. Roth is confident that StreamLink, which makes software for nonprofits, will be able to make payments. Why? The company’s revenue has doubled every year for the past three years, and it’s on course to do so again in 2015. Roth expects the company will be profitable within 12 to 18 months. And though debt comes with risk, it also comes with reward: It allows him to raise money without giving up a significant stake in the company. “Everything’s a little bit of a gamble. A little bit of a bet,” he said. Debt deals have become more common in the startup world in recent years — especially now that so many software companies sell their products on a subscription basis. Subscriptions generate recurring, predictable revenue. And lenders like that. Sure, some young companies that don’t fall into

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clude a mix of print, radio and television ads, plus a heavy online component on the university’s website. The introductory spot boasts a handful of the university’s students, whereas future commercials will include former Microsoft executive Mario Garzia and Jeff Hoffman, who helped start Priceline.com — two of the University of Akron’s prized recruits now leading new academic centers focused on information technology and entrepreneurship, respectively. Also this month, James — an Akron native, though not a graduate of the university — is slated to film the first of

See AKRON, page 22

See VENTURE, page 21

7

ALSO INSIDE: NEWSPAPER

74470 83781 0

Fast-growing startups borrow money, despite lack of profits, assets By CHUCK SODER csoder@crain.com

By TIMOTHY MAGAW tmagaw@crain.com

The University of Akron is launching an ambitious branding campaign — one that eventually will get a lift from one of the world’s most prominent superstars, LeBron James — in hopes of reversing several years of enrollment declines that have threatened the future of the institution. On Sunday, Sept. 6, the university will launch the first wave of the effort on television — dubbed the “Are you out there?” campaign — with an emotional, twominute spot airing regionally on WOIO, WEWS and WKYC. The spot doesn’t so much focus on the university’s new designation as “Ohio’s polytechnic university,” but rather attempts to explain, with some Midwestern grit, the polytechnic experience rather than the meaning of the word that has caused confusion for so many. “Our legacy makes us unafraid to invent and reinvent,” the narrator in the commercial says. “We were the kids who wore skinned knees with pride. We are the builders of kingdoms. We are opening doors and learning to fly. We asked ‘why?’ and ‘why not?’ Are you with us?” The cost of the campaign, including the creative and the initial media buy, hovers between $800,000 and $900,000. It will in-

Venture debt is on the rise

HEALTH CARE Crain’s annual directory of the health care agencies in Northeast Ohio — from addiction services to women’s health. ■ Pages 13-20

Entire contents © 2015 by Crain Communications Inc. Vol. 36, No. 36

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Small Business Matters i Want more information and resources on this week's topics, ideas and events? Go to www.cose.org/smallbizmatters.

PRESENTED BY

CONTINUING EDUCATION

Why the Customer Lifecycle is Crucial to Your Business Many small businesses are laser-focused on just getting the sale. While there’s no doubt acquiring customers is crucial, retaining them is just as important. The key to customer retention is understanding the customer lifecycle journey, according to Mike Stocker, director of business development at Marketo. -YVT [OL TVTLU[ [OL J\Z[VTLY Ă„ YZ[ learns about your product or service, to the KH` [OL` ILJVTL H M\SS Ă… LKNLK HK]VJH[L there is a lifecycle that customers follow. Understanding that lifecycle is an essential part to retaining the customers you already have, Stocker said during a recent webinar. “Consumers today are moving between “This is where you’re focused more on the KP LYLU[ THYRL[PUN JOHUULSZ š OL ZHPK ¸@V\ long-term relationship,â€? he said. need to think about your strategy across all of The key tenets of engagement marketing, your channels.â€? he said, are: An example of this, he said, is understandâ‚” \UKLYZ[HUKPUN `V\Y J\Z[VTLYZ HYL ing that some customers might be more apt individuals; [V JOLJR [OLPY LTHPS Ă„ YZ[ [OPUN PU [OL TVYU â‚” L]VS]PUN `V\Y THYRL[PUN TLZZHNL ing when they wake up. That could be an continuously over time; ideal time for your email marketing campaign. â‚” KPYLJ[PUN `V\Y TLZZHNPUN [V^HYK H “Engage at the right time,â€? he said. positive outcome; and Increasing mobile usage is driving the â‚” LUZ\YPUN `V\Y TLZZHNL PZ L]LY`^OLYL customers’ movement between channels, your customer is. Stocker said. That has led to a rise during the “Marketing is becoming the steward of the WHZ[ Ă„ ]L VY `LHYZ VM LUNHNLTLU[ THYRL[PUN customer journey,â€? he said.

One good example of this? Stocker said he purchased a pair of pants from a clothing retailer two years ago. Recently, he got an email from the business suggesting some shirts that go well with the pair of pants he bought. Challenges This kind of marketing does bring about its own set of unique challenges, Stocker said. Chief among those is measuring the impact of your messaging. For instance, Stocker said 82.2% of marketers are unable to measure cross-channel performance or return on investment. This limP[LK ]PZPIPSP[` JHU THRL P[ KP J\S[ [V \UKLYZ[HUK whether you’ve created a winning message. Another challenge for small business in particular is how to devote limited resources to such an intensive marketing plan. Mike Madden, demand generation program manager at Marketo, said small companies would do well to mimic their larger brethren. The key is to create unique, personalized conversations with your customers. At its core, this is powered by strong segmentation and the personalization capabilities of your marketing automation solution or email service provider.

NATIONAL PREPAREDNESS MONTH TIPS

Facebook Scam Many companies limit access to “adult� sites, but few do anything when employees browse sites such as Facebook. That’s a mistake, says Steve Giordano, the GM/owner of computer and IT services company TeamLogic. Some hackers have begun sending around viruses under the guise of a Facebook survey that asks, for example, “What street did you grow up on?� or “Where did you go to elementary school?� Do those questions sound familiar? They should. Many websites, including banking sites, ask users similar questions when the account holder forgets their password. Filling out the Facebook �survey� actually sends the answers back to the hacker, who can then potentially gain access to the account.

Gay Games

$52.1 $1.4 million million The economic impact generated by Northeast Ohio’s hosting of the 2014 Gay Games.

Total spend at Northeast Ohio- or Ohio-based businesses, representing 59.7% of overall spending during the event.

SOURCE: PLEXUS

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COSE WEBED SERIES: TRADE SHOW EXHIBIT SECRET SAUCE

52 TIPS FOR YOUR BUSINESS

#36 – Keep the Bad Guys Out of Your Network cause a business to come grinding to a halt. Even a small company with just 20 employees could potentially face hundreds of thousands of emails every year, Giordano said. That represents a lot of ways inside the business. And viruses can cause a lot of \U^HU[LK KHTHNL MYVT WPSMLYPUN ZLUZP[P]L Ă„ UHUJPHS PUMVYTH[PVU [V LUJY`W[PUN JY\JPHS Ă„ SLZ a company needs while the hacker asks for a YHUZVT [V IL WHPK [V \USVJR [OL Ă„ SLZ Security steps So what can small businesses do to make sure they’re protected? First, educate employees, Giordano said. Make sure employees are aware of how they might be targeted and also put policies in place, such as a password policy, to help keep things secure. Also, businesses shouldn’t rely on free antivirus software as free versions of the software often lack critical systems that the paid, business versions of antivirus have. “There’s a reason why it’s free,â€? he said. The cost of vulnerability can be high, Giordano said. Prevention, and backing up data daily, is the key to minimizing any potential hack-related losses.

By The Numbers

COFFEE WITH COSE

In recognition of National Preparedness Month in September, COSE will provide a preparedness tip of the week each week on the Small Business Matters page of Crain’s Cleveland Business. Today’s tip focuses on safeguarding your business from acts of cyber terrorism.

It might seem like data hacks are a given in today’s business environment. A 2014 study by the Ponemon Institute found that up to 432 million accounts had been hacked during a 12-month period leading up to the study’s release. Small businesses are especially vulnerable to hacking, according to Steve Giordano, the GM/owner of computer and IT services company TeamLogic IT. Small businesses are often thought of by hackers as being easy targets because the businesses tend to have the least amount of cyber defense in place. “Hackers release the virus into the wild HUK [OL` OVWL [OH[ [OL ]PY\Z Ă„ UKZ P[Z ^H` PU[V the network,â€? he said during a recent COSE WebEd Series webinar titled “Security Tips for Small Businesses: How to Keep the Bad Guys Out of Your Network.â€? More often than not, it’s the employees themselves who unwittingly let the virus in, he said. This is often done via emails that mimic [OL SVVR VM V JPHS LTHPSZ MYVT JVTWHUPLZ Z\JO as AT&T or Twitter. Employees are told they have to click to look at an unopened message on the social network or that they have an unpaid bill to look at, but clicking the link in the email actually activates the virus that can

September 7

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10TH ANNUAL COSE SMALL BUSINESS CONVENTION Steve Giordano, TeamLogic IT You’re going to look at downtime,� he said. “You have to put a value on that amount of downtime. You could lose data. I’ve seen situations where if companies lose all of their data, they go out of business in six to nine months. It can be that traumatic.�

There are hundreds of reasons small business owners and entrepreneurs should attend the Small Business Convention. Here are three (like you need us to talk you into it!): First, dynamic keynotes featuring powerful stories of people following their dreams, overcoming adversity, and building successful empires remind you why you stepped out on your own. Second, more than 30 educational workshops designed around topics that meet your needs and address your challenges. Finally, you will make valuable networking connections at a packed tradeshow, dinners and closing night party.

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CRAIN’S CLEVELAND BUSINESS

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Car dealerships are going extra mile Large majority of locations in Northeast Ohio have upgraded their facilities to appease customers ni said, as customers are better informed about what they want when they walk on the lot. “And that’s a great thing,” Serpentini said.

By RACHEL ABBEY McCAFFERTY rmccafferty@crain.com

Montrose Ford in Fairlawn is making some changes to modernize the way it does business, from adding a mobile app to communicate with customers on and off the lot to renovating its space to make waiting for an oil change a more productive experience. In doing so, Montrose Ford fits comfortably among a large group of Northeast Ohio dealers making investments aimed at serving customers better and building longer relationships with them. Louis A. Vitantonio Jr., president of the Greater Cleveland Automotive Dealers’ Association, estimates that more than 80% of local dealerships have updated their locations in some way in the past two to three years. It’s all about improving the customer experience and being conscious of “the customer’s wants and needs,” Vitantonio said. Dealerships can interact with customers at any time now, using apps that can deliver information in off hours or offering online payment options. “People’s time is very valuable,” he said. The app being used at Montrose Ford was piloted there about a year ago and started being used throughout the entire Montrose Auto Group in April. It can help alert customers to when a version of the car they’ve been eyeing comes on the lot, and salespeople can treat it as a mobile inventory booklet, said Shawn Inks, vice president of sales for Aytomic Technology LLC in Akron, which created the app. It’s available to other dealerships, but is branded for each. With the rise of the Internet, it’s important to be transparent with customers and give them quick access to information, said John Thompson, social media manager for the Montrose Auto Group. Inks said in an email that the app for the group had been downloaded more than 400 times in the past 60 days, and that more than 1,800 vehicles had been searched for and viewed in the last 30.

That’s the ticker In terms of physical space, the showroom is still important to dealerships, but service is even more critical, said Gregg Strong, president of KeyBank Dealer Services, which offers banking and commercial finance services to new car dealers. The dealerships want customers who are waiting for service on their vehicles to feel welcome and comfortable, he said, since keeping customers coming back is

The road less traveled

CONTRIBUTED PHOTO

Montrose Ford in Fairlawn has added a mobile app and renovated its space in an effort to improve the customer experience. all about building relationships. At Montrose Ford, the revamped dealership will put technology at the forefront and will include high-speed Wi-Fi, work stations for customers who are waiting for their cars and a screen with essentially a “live ticker feed” that updates customers on the service being done and their expected departure time, Thompson said. The renovations should be done well before December. Thompson wouldn’t disclose how much was spent other than to say it’s a seven-figure investment. The changes at the Montrose Ford location are being driven by its participation in the voluntary Ford Trustmark program, which aims to provide better customer service and build relationships that could lead to future sales, said Tom Hickey, Ford’s Pittsburgh region market representation manager. Toyota and Mercedes-Benz are among other manufacturers driving changes at local dealerships. Michele Baum, fixed operations manager for Ganley Toyota and Mercedes-Benz of Akron, said that to be authorized dealers, the locations had to install plug-in stations for

both types of vehicles. The station for the Mercedes brand went into place in the last month, and the dealership has had stations for Toyota vehicles since 2012 or 2013, Baum said. The stations also serve as a customer satisfaction and retention tool — if people who didn’t buy their vehicles at the dealership stop there to charge up, maybe they’ll come back the next time they buy a car, Baum said. Use has been rare so far, but she thinks it will take some time to catch on. Updates at the Serpentini Chevrolet and Buick locations have added up to more than $7 million in recent years, as the group built an entirely new dealership in Orrville and renovated the ones in Strongsville and Tallmadge, said president Bob Serpentini. The updates, which wrapped up last fall, focused on making sure customers had pleasant places to wait (or work while they waited). Cars are no different from dealership to dealership, Serpentini said, so the customer experience has to stand out. And while that’s been the case for a while, technology has continued to force change in the industry. The dealerships see fewer shoppers, but more buyers, Serpenti-

Some local dealerships have been taking more unique steps to make them stand out in the crowd. Take Motorcars Honda in Cleveland Heights, which earlier this summer completed a large solar panel installation and is finishing up installation of an assembly line to speed up its service department. The dealership also made some upgrades specifically for the customers in its retention program by creating what it calls a platinum lounge. Trevor Gile, general manager and coowner, said the soon-to-be-opened space includes a waiting area with an indoor and outdoor patio, a waterfall and a kitchen and dining area. About 45% to 50% of new car sale customers every month purchase the package, which gives them amenities like oil changes and car washes, Gile said, and when they’re at the dealership, the company wants them “treated like royalty” so they come back. Gile said he thinks smaller dealerships are going to need to target niche audiences to compete with multi-franchise organizations. Progressive Auto Group in Massillon is another dealership taking less-than-conventional methods to keep customers happy, though in a less tangible way. Last September, the group added a position to its team to focus specifically on building long-term relationships with customers, in part by making the lives of their business clients as easy as possible.

Little things mean a lot As director of business development and community relations, Thomas W. Schmidt works with business owners and leaders in the area on purchases for their companies or for personal use. Schmidt said Progressive, which has three locations and sells vehicles including Chevrolet and Chrysler, added the role to differentiate itself in the marketplace, but he believes more dealerships are trying the approach and that others in the area will follow suit. The little touches — like driving a vehicle to someone so they can test drive it or taking paperwork to a busy professional’s office, rather than making him or her come to the dealership — are what he thinks make the difference. “Folks are really appreciative of the small things,” Schmidt said.

GASB ruling will make tax breaks more transparent By JAY MILLER jmiller@crain.com

Tax abatement has been a common carrot that communities use to attract development. To date, however, cities and other tax-abating governments haven’t shared much about the accumulated financial consequences of those tax breaks. Now, because of an edict from the board that oversees government accounting, they will. That means that the counties, cities and public authorities in seven counties of Northeast Ohio will have to provide details about the roughly $1.4 billion in taxes they are passing up annually. “This is good news for taxpayers, it’s good news for investors, and it’s good news for good government,” said Zach Schiller, research director

for Policy Matters Ohio, a progressive, research-oriented nonprofit with offices in Cleveland and Columbus. “This is a matter of transparency for investors and others interested in public finance.” The Governmental Accounting Standards Board (GASB) in August ruled that some of the financial details of those tax breaks are essential for a clearer understanding by citizens, municipal bond credit analysts and even public officials of a governmental body’s financial health. “I’m going to be the happy recipient of more information,” said Tim Offtermatt, an investment banker with the Cleveland office of Stifel Financial Corp. who specializes in public finance. “It helps us put together a comprehensive credit package for credit analysts.” The inclusion of this information

follows recent rulings by GASB that will require better reporting of the long-term costs of unfunded pension obligations by some communities. The poster children for the consequences of insufficient financial reporting were Chicago, which recently saw its bonds reduced to junk status, and Detroit, which went through the country’s largest municipal bankruptcy. Under GASB 77, as the rule is called, all governmental bodies will be required for the first time to disclose on their public, audited financial statements the annual cost of tax abatement for the reporting year. In addition, notes in the statements will explain the purpose of the programs, commitments made by recipients (such as pledges to create a specific number of jobs), and any ways those dollars might be recaptured — for example, if

new income tax is coming in from jobs created by the abatement. “This new guidance will result in people who use governmental financial statements having access to essential information about the tax abatements governments enter into,” said GASB chairman David A. Vaudt in a statement when the rule was announced. “Not only will this mean that they’ll have access to information that will allow them to better assess a government’s financial health, but it will also make the impact of these agreements much more apparent,” he said.

Big in Cleveland Tax abatement is an incentive that governments use to attract new business into its borders or to encourage existing businesses to

make substantial capital investments that, usually, bring new jobs. It has a long history in Northeast Ohio. Tax abatement was first used in 1977 when Cleveland, under Mayor Ralph Perk, gave tax abatement to two downtown office projects — the National City Center (now PNC Center) and the Sohio Building (now 200 Public Square). The city of Cleveland, not surprisingly, has used tax abatement significantly more frequently than other communities in the region. Had it never used tax abatement, the city would be collecting $484.5 million more in property tax revenue in 2014, according to Cuyahoga County’s 2014 abstract of the property taxes foregone because of tax abatement. The Ohio Department of Taxation puts the seven-county total at See TAX BREAKS, page 22

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CRAIN’S CLEVELAND BUSINESS

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SEPTEMBER 7 - 13, 2015

Affordable housing market is a key for banking giant KeyBank plans to make business one of its top revenue drivers By JEREMY NOBILE jnobile@crain.com

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Northern Ohio’s Premier Air Charter Service Serving the area with a fleet of 9 Jets • 25-HOUR JET CARD NOW AVAILABLE • www.FlySkyQuest.com • 216-362-9904 Charter@FlySkyQuest.com Volume 36, Number 36 Crain’s Cleveland Business (ISSN 0197-2375) is published weekly at 700 West St. Clair Ave., Suite 310, Cleveland, OH 44113-1230. Copyright © 2015 by Crain Communications Inc. Periodicals postage paid at Cleveland, Ohio, and at additional mailing offices. Price per copy: $2.00. POSTMASTER: Send address changes to Crain’s Cleveland Business, Circulation Department, 1155 Gratiot Avenue, Detroit, Michigan 48207-2912. 1-877-824-9373. REPRINT INFORMATION: 212-210-0750 Subscriptions: In Ohio: 1 year - $64, 2 year - $110. Outside Ohio: 1 year - $110, 2 year - $195. Single copy, $2.00. Allow 4 weeks for change of address. For subscription information and delivery concerns send correspondence to Audience Development Department, Crain’s Cleveland Business, 1155 Gratiot Avenue, Detroit, Michigan, 48207-9911, or email to customerservice@crainscleveland.com, or call 877-824-9373 (in the U.S. and Canada) or (313) 446-0450 (all other locations), or fax 313-446-6777.

There’s a national shortage of affordable housing, and the largest bank based in Cleveland aims to fix that here and across the country. Making KeyBank a national player in the affordable housing market is a top priority for Robert Likes, who was appointed the national manager of Key’s community development lending and investment platform in May. He previously led the bank’s Northwest income property group. The bank has designated the business as one of its top revenue drivers in the next three years with plans to extend financing for affordable housing projects from a dozen states to all 50. It’s an auspicious goal for any regional bank, especially for an already big player in the space. But considering factors like a national shortage of affordable housing, growing costs of construction and a widening margin between rental rates and stagnant individual incomes, Likes expects that demand for affordable housing projects will continue to surge. Key already is among the largest servicers in the country for affordable housing projects. The bank has an existing portfolio north of $2 billion, encompassing about 100,000 units in its current footprint. It issued around $400 million in debt and equity financing last year alone and has about $1 billion in tax credits amassed. The overall goal, Likes said, is to double the size of the business in terms of production and revenue in three years. “That includes adding substantial new clients, lending a lot more, investing a lot more in our current 12 footprint states and also on a national basis as we onboard and grow new client relationships,” Likes said. “It’s a lofty target for us.” Likes said data show that nationwide demand for affordable housing is around 12 million units — so the opportunity is there. But that doesn’t mean the process is simple. “I think the constraints come in that these projects are tough to build because they require substantial equity to reduce the cost of the project so it has low debt so savings can be passed on to the renters,” Likes added. Kicking up the business means being increasingly “proactive versus reactive,” Likes said. That comes by identifying projects early on to offer financing, be that for new construction, preserving existing properties or acquiring others. Historically, the bank had focused almost entirely on new construction. Some newly hired personnel will lead the charge on finding investments across the country. Since May, the bank already has hired 10 national relationship managers just for that task. Their existing counterparts from New York to Washington

CONTRIBUTED PHOTO

Westerly Apartments in Lakewood received a $9.2 million construction loan from KeyBank.

Robert Likes, national manager of community development lending and investment for KeyBank, has made the affordable housing market a priority. state, Likes said, will be asked “to do more.” “It’s a continuation of what we’re already doing well,” he said, “but we have a strong focus on becoming even better.”

Catalytic impact A focus on affordable housing is as good for the company’s image as it is for margins and the communities that benefit — including Key’s hometown. According to national nonprofit Enterprise Community Partners Inc., which uses its own dollars to finance these kinds of projects, the people most in need of affordable housing aren’t just the extremely impoverished. Those also in need include the housing insecure, which applies to a household spending more than 50% of its income on rent. In Cuyahoga County, that comprises about 30% of the population. “These people are severely cost burdened when it comes to housing costs,” said Mark McDermott, a Cleveland-based vice president and Ohio market leader for Enterprise. “This is a situation that needs to be addressed.” According to data from Enterprise, Cuyahoga County had more than 2,100 homeless people last year,

while about 20% of families in poverty and 65,000 HUD-defined low-income renters put more than 50% of their income toward rent. One local example of a development Key has financed recently resembling projects the bank is looking for across the country includes the Westerly Apartments, a complex for seniors in Lakewood. Key footed a $9.2 million construction loan for the apartment complex, with Cleveland Housing Network Inc. as the developer and Lakewood Senior Citizens Inc. as the owner. Another includes A Place For Us Housing LLC, a Cleveland apartment building designed for the senior LGBT community, which will be owned and managed by The NRP Group. For that, Key contributed a $7.2 million construction loan and a 9% low-income housing tax credit equity investment. Those projects financed through low-income housing tax credits are also smart investments overall. Since that program was started in the mid1980s, those related projects have outperformed all other real estate classes and feature about a 0.5% foreclosure rate over nearly 30 years, Likes said. So efforts like Key’s in the affordable housing space not only make good business sense and help meet Community Reinvestment Act requirements, they inherently spur positive effects on people and neighborhoods as they spur projects to fruition that might not otherwise draw investors. After all, when the private market gets involved, “it gives confidence” to other investors,” McDermott said. That’s why the initiative by Key means so much to the groups pushing for affordable housing. “This isn’t just a problem we can solve with more public funds, more subsidies,” McDermott said. “We need to be able to leverage and have good private capital coming to the table to make these projects work. “Banks like Key are doing this and proving it works.”

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If you have any questions about the current real estate market, please contact me at the Fairlawn, Ohio Office: 330-665-9400, or on my cell at: 330-730-6290. You are also welcome to drop me a line at: julie.boyle@cbhunter.com or visit my website at: www.julieboylerealtor.com for more information. I look forward to meeting you and assisting you with all of your real estate needs.

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The 826-foot Lee A. Tregurtha will have scrubbers installed on its exhaust system by next year. The work is part of Middleburg Heights-based Interlake Steamship Co.’s $100 million renovation of its fleet.

Steamship biz is nearing shore on $100M overhaul By DAN SHINGLER dshingler@crain.com

If you think boating is expensive, talk to Mark Barker. The president of Middleburg Heights-based Interlake Steamship Co. is finishing $100 million in improvements to his company’s fleet of nine Great Lakes freighters. And that’s on top of normal maintenance, which will run more than $20 million this winter, a bit more than usual, Barker said. You might say Barker is in the business for the long haul. “I’m making 20-year investments,” he said in discussing the improvements to the fleet. Most recently, Interlake Steamship has been installing scrubbers on its ships’ exhaust systems, Barker said. New federal regulations require ships to reduce their emissions, especially sulfurbased pollutants. Most fleets have chosen to meet those standards by buying cleaner, more expensive fuel. Barker said the company has been able to reduce emissions even further than would be possible with just a fuel switch, while also enabling the fleet to continue burning less-expensive fuel. Interlake Steamship is installing the scrubbers on five of its ships. It already has installed them on one, the 806foot ore carrier the Hon. James L. Oberstar, which began using the scrubbers in April. The 826-foot Lee A. Tregurtha will get the scrubbers by next year, as will the 1,000-foot James R. Barker. Meanwhile, Interlake Steamship has been making even bigger investments in new engines, as well as new living quarters for its crews, which typically number about 20 per ship. It has installed high-tech engine rooms in four of its ships so far, and the 690-foot Herbert R. Jackson will be converted from steam to diesel power over the coming winter. Heat-capturing systems also take heat from the

ships’ exhaust and use it to heat steam, which in turn heats the ship itself, as well as its fuel systems during cold weather. All it takes is a big upfront investment. While the company does not release its financials and has not put a price on any one project, Barker said it will spend about $100 million on the current overhauls, which began in 2007 and will wrap up in 2017. Barker said Interlake Steamship is able to make those big investments more easily than many of its competitors, which have shareholders focused on short-term returns. “That’s the benefit of being private,” Barker said, noting that Interlake Steamship is the last of the privately owned companies among the Great Lakes’ big shippers. “This is a tough business to be in if you’re publicly traded,” he said. “If you’re worried about your earnings on a three- to six-month cycle, this industry has too much volatility.”

Choppy conditions That volatility comes from the end markets the ships serve, which primarily are industries that use coal, iron ore and limestone. They all have cycles, some short and long. For instance, Barker said his steelmaking clients that sell into automotive, such as ArcelorMittal’s Cleveland Works, have been busy recently — thanks largely to U.S. auto sales again rising above 17 million vehicles per year and domestic automakers gaining market share. At the same time, though, steel companies selling into the oil and gas industry have seen a slowdown, and some have even idled mills altogether, Barker said. Other industries, such as coalburning power plants, tend to be steadier, he said, but they can be affected by long-term trends. Coal shipments across the United States, for example, are down as more power plants begin burning natur-

al gas and fewer use coal. But Barker won’t let today’s downturns keep him from being able to capitalize on the future, which he sees as bright for continued shipping on the Great Lakes. Trends seems to indicate he may be right. According to the Lake Carriers’ Association in Cleveland, the total amount of dry-bulk cargo carried on the lakes has risen in recent years, from about 112 million tons in 2009 to 142.6 million tons in 2014. Granted, much of that increase came as the nation emerged from the Great Recession, but last year’s total was also above the long term average of 139.6 million tons, the Carriers’ Association reports.

Takes money to make money The shipping game is always expensive, too. “Our members typically spend upwards of $70 million each year maintaining and modernizing vessels,” said Carriers’ Association spokesman Glen Nekvasil, noting that organization’s 12 member companies spend about $70 million each year on maintenance and upgrades. Interlake Steamship’s nine vessels tie it for second among the Carriers’ Association’s 12 members. Barker said he intends to keep investing. He’s currently updating the living quarters on his company’s ships. Crews can spend as much as two months at a time aboard ship, he said, so amenities like up-todate furniture and fixtures, Wi-Fi, satellite television and in-room, wall-mounted high-definition TVs are being installed. He said he’d even expand the fleet with more ships if the right opportunity came along. But, with new ships costing up to $150 million each, keeping the existing fleet in tip-top condition is his first priority. “We’re ensuring that our ships can go another 30-plus years,” Barker said.

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Pat Catan’s CEO banking on new project By STAN BULLARD sbullard@crain.com

Pat Catan’s and its sister company, Darice Inc., are known for retail sales and distribution of thousands of items used in crafts and decorating. But Michael Catanzarite, CEO of the family-owned firm, said his latest sideline is not a hobby. Catanzarite said he has “got to make money” with the planned $4.5 million expansion and redevelopment of a dated shopping center at 13309 Pearl Road. The project will play a key role in repositioning the northeast corner of Pearl and Westwood roads from an eyesore to a showplace as part of the city’s planned Strongsville Town Center project. The site is crucial to the endeavor by Catanzarite and other property owners and tenants. The corner is just north of the Strongsville Common, which is home to multiple community events through the year. It also adjoins the City Hall complex and the Strongsville Historical Center and Village, which replicates a 19th century town, and is near the city’s recreation center and the Strongsville branch of the Cuyahoga County Public Library. “Thousands of people walk by this area yearly, and it has been underutilized,” said Brent Painter, Strongsville economic development director. Catanzarite’s plan fit into the city’s effort to upgrade the corner as part of a town center project with upgraded retail. It also plugs into a soon-to-be completed plan the Northeast Ohio Areawide Coordinating Agency is preparing for the city to revitalize the area and promote wellness by improving connectivity to the city assets and neighborhoods with walking and bike paths, Painter said. Catanzarite approached Painter and Mayor Thomas Perciak last winter with the plans. Painter said he and the mayor saw an opportunity to leverage the plans with those of the city — and to put Catanzarite on the town center’s steering committee. “We’re extremely excited about the possibility of this project,” Painter said.

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ble a site large enough to allow construction of a 10,000-square-foot retail center abutting the street and to redecorate the existing center. Cuyahoga County land records show that through an affiliate, Catanzarite paid out a total of $1.3 million for the parcels between January and August. “It won’t be your typical shopping center with parking in front of it,” Catanzarite said. The contemporary addition and updated center will house restaurants, some new-concept retailers and similar neighborhood uses, Catanzarite said. He declined to identify them. “It’ll be cool stuff,” he said. “Not a mattress shop, although they pay a lot of rent.” Plans for Catanzarite’s center, which has a working title of West-

wood Commons, will soon be reviewed by city planning bodies. If approved, Catanzarite hopes to finish the work by next summer. The project is not far from the 1-million-square-foot SouthPark Mall and is being planned for a city that has a total of 2 million square feet of retail space, according to CoStar, an online real estate data provider. However, Painter argues it is crucial. “This is not taking a green field covered with trees and removing them,” Painter said. “As the city has developed, our focus is now on reinventing and reinvesting in retail space.” Catanzarite sees it more simply: “I’ve been driving past this for 40 years. It’s a solid, A-plus site that was underused.”

Who are the most connected people in Northeast Ohio, and how do they rank? Crain’s Cleveland Business this year is celebrating 35 years of making connections by attempting to answer that question. On Oct. 26, we will publish a data-driven section, created in partnership with the New York-based technology company Relationship Science. The section will use information collected from Crain’s weekly lists to determine who has the most access based on their links to individuals, institutions and organizations. In a nutshell, this list lets the facts speak for themselves to create a picture of who knows whom — and how. And, trust us, there are some surprises. But you don’t have to wait until Oct. 26 to find out who made the list. Over the next several weeks, we will be releasing the list alphabetically, 20 names at a time.

Here is the first installment: ■ Thomas W. Adler ■ Arthur F. Anton ■ Craig Arnold ■ Jim E. Bennett ■ Ronald M. Berkman ■ Paul R. Bishop ■ James C. Boland ■ Julie Boland ■ Carol A. Cartwright ■ Paul G. Clark ■ Christopher M. Connor ■ Delos Cosgrove ■ Alexander M. Cutler ■ Ralph M. Della Ratta Jr. ■ Paul E. DiCorleto ■ Katrina M. Evans ■ Richard H. Fearon ■ Lauren Rich Fine ■ Jeffrey I. Friedman ■ Lyle G. Ganske

Stay tuned for more names next week, and the rankings on Oct. 26.

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‘Cool stuff’ promised Market forces also came into play as several pieces of the redo fell into place. For one, a former gas station on the corner of Pearl and Westwood is being razed. That is where Architectural Justice, a Medina-based design and remodeling center, plans to install a 6,000-square-foot showroom that will include a café. For another, the project produced a site for a freestanding store for Mitchell’s Ice Cream. Next door to Architectural Justice, Mitchell’s plans to install a store on a Westwood site that Strongsville City Council recently rezoned to allow a freestanding operation on part of Catanzarite’s property. The Mitchell’s shop will face the gazebo in the city’s central park, said Mike Mitchell, co-president of the Cleveland-based ice cream firm, who considers it an ideal location for a 2,700-square-foot shop. “It will be a great place to stop after going to the commons with the kids and the dog, and to celebrate family events,” Mitchell said. The largest single element is refiguring the former plaza. Besides the existing center at 13309 Pearl Road, Catanzarite bought and demolished an office building at 13451 Pearl and empty land at 13501 Pearl to assem-

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ERC survey is projecting 3% salary spikes for ’16 By DAVID PRIZINSKY clbfreelancer@crain.com

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Northeast Ohio companies and organizations are projecting average wage and salary increases next year of 3%, slightly more than this year, according to the participants in the annual survey conducted by the Employers Resource Council in Highland Heights. The size of the hikes continues a general decade-long trend. However, employers did hike wages and salaries an average of 3.5% in 2007, the year the economy peaked and then declined for the next 18 months before bottoming out in the second quarter of 2009. The survey revealed that 96% of the companies and organizations that provided information indicated that wage and salary hikes are planned in 2016. This is a similar percentage to the last three years, and a major improvement from 2009, when only 55% projected increases. The trend began to turn upward the following year as the economic recovery continued. The most generous level of increases in recent years was in 2001, when average pay hikes reached 4.4%. Economist Ken Mayland of ClearView Economics in Pepper Pike doesn’t see wage growth accelerating dramatically in 2016. He said there are two main reasons: sluggish economic growth in general and rising employee health insurance costs, some or most of which are being borne by employers. “Employees are getting more of their total compensation increases in the form of these benefits, as opposed to wages,” he said. Margaret Brinich, manager of surveys and research at ERC, said this year’s survey doesn’t differ significantly from last year’s, when projected raises averaged 2.9%. She said economic indicators are moving in the right direction but added that companies are still taking a cautious approach when it comes to deciding

on compensation. “We are receiving a lot of inquiries. The survey is a hot topic,” Brinich said.

Merit system The survey covers base pay and does not include special bonuses or other forms of compensation. The Employers Resource Council has 1,100 members who can use the survey to gauge their own compensation policies and how they compare with competitors or other industries. Employers often factor in cost of living measurements in compensation planning and measures such as the Personal Consumption Expenditures index show inflation to be modest. Although the report doesn’t include data regarding merit pay or bonuses, more companies are turning to merit pay and pay for performance to boost morale and competitiveness, Brinich said. “I would say that at least threequarters of the employers are turning to merit-based pay for some selected management job titles,” she said. While the pay trends are becoming more positive, some employers indicated they would hold the line on increases next year for some specific job titles. For instance, 11% said they would freeze executive base pay next year. This compares with 12% that actually froze their executive pay this year. This year, 136 employers participated in the report; a little more than half of them were located in Cuyahoga County. The survey included 57% manufacturing companies and 23% non-manufacturing firms. The remaining were nonprofit organizations. The majority of the employers had between 51 and 200 employees. Northeast Ohio employers do not appear to differ greatly from employers nationally when it comes to worker compensation plans. The Conference Board in New

York is projecting increases averaging 3% next year. National consulting firms such as Mercer have projected median increases of 3% for all industries and employee groups. The Society for Human Resource Management has projected increases of 2.7% next year.

Assessing their situations At Jergens Inc., a manufacturing technology producer in Cleveland, president Jack H. Schron, Jr. said his company increased compensation 2% this year. Jergens has 230 employees at its factory and offices at 15700 South Waterloo Road. Schron said his company will review wage and salary issues in December before deciding on next year’s moves. He said sales are up from last year and that new products such as precision screwdrivers are popular. “We will be assessing market conditions, inflation rates and other data in December,” Schron said. “We use Employers Resource Council to help us determine how we can be competitive” in setting compensation. The need to find a competitive stance and position can be made more complicated in an area such as Northeast Ohio, where sophisticated manufacturing has long held sway. Asked about his compensation plans for 2016, Charlie Kerr, president and chief executive of Kerr Lakeside Inc. in Euclid, said he could not provide a simple, across-the-board percentage hike because of a skilled factory worker shortage that affects many metalworking companies in the area. He must balance an upward pressure on skilled wages and the need to control employment costs. “Wage and salary administration is the most difficult thing I do as president of the company,” said Kerr, who added that this job is not getting any easier. Kerr Lakeside makes specialty fasteners and employs 80. Kerr said the marketplace is improving and sales are on the rise.

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PUBLISHER:

John Campanelli (jcampanelli@crain.com) EDITOR:

Elizabeth McIntyre (emcintyre@crain.com) MANAGING EDITOR:

Scott Suttell (ssuttell@crain.com)

OPINION

Get real Donald Trump last week went after fellow Republican presidential contender Jeb Bush in an ad posted on Instagram. The 15-second spot juxtaposed a comment made by Bush referring to illegal immigration as “an act of love” with photos of three undocumented men accused or convicted of murder. The attack ad came straight from the playbook of Lee Atwater, campaign manager for George H.W. Bush, Jeb’s father. In 1988, a political action committee backing the elder Bush used Willie Horton, a convicted felon who raped a woman while on weekend furlough from prison, to make the point that Democratic candidate Michael Dukakis was soft on crime. The spot dealt a fatal blow to Dukakis’ already ailing campaign, and it set the tone for future political attack ads. Fear-mongering is nothing new in American politics — and fear-mongering about foreigners and anyone else perceived as “the other” is nothing new in America. Trump is just the latest to stoke the flames of xenophobia. Unfortunately, what’s been lost in the stream of anti-immigrant sound bites this summer is the tangible economic benefits immigrants provide to businesses and the American economy. For centuries, immigration has fed commerce and innovation in our country. According to the Brooking Institution’s Hamilton Project: “The most recent academic research suggests that, on average, immigrants raise the overall standard of living of American workers by boosting wages and lowering prices. One reason is that immigrants and U.S.-born workers generally do not compete for the same jobs; instead many immigrants complement the work of U.S. employees and increase their productivity.” We must cut through the rhetoric to renew the conversation about comprehensive immigration reform, from tighter border security to a pathway to citizenship for millions of undocumented immigrants already here. We also must find a way to increase the number of H-1B temporary visas for skilled workers, so U.S. businesses can fill the talent gap in science and tech as U.S. workers are trained and educated to meet the need. The U.S. Chamber of Commerce understands the importance of reforming our immigration system to ensure that businesses can get the workers they need to compete in the global economy. After the most recent attempt at immigration reform failed in Congress in late 2014, Thomas J. Donohue, president of the U.S. Chamber of Commerce, wrote in The Washington Times: “Reform is not only the right thing to do; it’s the necessary thing. It would help revitalize our economy by raising the gross domestic product, boosting productivity and attracting investment from around the world. It would spur innovation and entrepreneurship. It would create jobs for immigrant and native-born workers alike.” We must step back from the extremes to find a middle ground where we do what’s best for our country by ensuring we have a strong workforce. That includes finding a place for immigrants. Whether you want to call it an act of love, an act of common sense or an act of commerce, it needs to happen. And Congress needs to get its act together and get it done.

FROM THE PUBLISHER

Don’t let fear control your life It was after hours on a weekday a few One night during the third week, as I years ago when my publisher called me sat alone in the dark, things started to into his office. change. I don’t know how or why it hapWe were at a small trade newspaper, pened, but I begin going all Buddha on covering a niche industry. I was the edmyself. itor, overseeing a handful of I asked some questions: reporters. Right now, are you OK? Yes. Is He explained that our pubthis out of your control? Yes. lication — which had always Do you believe in yourself? struggled financially — was in Yes. Have other people made trouble. We were on the brink it through this (and much of shutting down. worse)? Yes. Are you sick of I remember my body’s reacbeing scared? Yes. tion: slow waves of lava rolling I woke up the next morning up my back and filling my calm and full of acceptance. I cheeks. I was going to lose my might not have a job at the job. What about my family? JOHN end of the day, I thought, but, My mortgage? College for the you know what? It’ll be all CAMPANELLI kids? Groceries? right. For the next few weeks, I It might even be better. barely slept. I couldn’t go five minutes As I climbed out of that dark place, I without dread invading my thoughts. made a promise to never again let fear I stared into space. I filled the recygrab me and hold me hostage. (Or I’d at cling bin with empties. least try to never let fear run the show. The few cubic centimeters inside my This is a work in progress.) brain became an incubator of fear, dark As I type this, the Dow is down anothand fertile. er 425 points. Looking back, I realize that stretch was The typical securities-heavy retireone of the most valuable moments of my ment account has taken a 10% hit over life. the past three months.

Oil prices, China, Greece, ISIS — it’s so easy to find a reason to allow those lava waves of fear roll in, especially with the ghosts of 2008 and 2009 still haunting so much of our businesses and our lives. But instead of succumbing to fear, think about this: GDP, consumer confidence, consumer and corporate spending — all up. Unemployment, interest rates, inflation — all down. We are a country rich in leadership, innovation, productive workers and resources. Chances are, we’re going to be all right. And unless you’re around retirement age, chances are you are doing only one thing with stocks: buying them. And buying at lower prices is always a good thing. Still, there’s a chance, a small chance, the wheels might come off again. But even if that’s in the future, you gotta go Buddha on yourself today: Are you OK at the moment? Is it all out of your control? Do you believe in yourself? You know those answers. It’s been said that fear exists in only one place: your mind. I say it exists there only if you let it.

LETTER TO THE EDITOR In the Aug. 24-30 edition of Crain’s, I read in the “Weed out” editorial, “Should marijuana be legal in Ohio? It’s a fair question,” and “chief among (the problems) is the fact that Issue 3 hijacks the Ohio Constitution to create an industry that will benefit a select few.” It seems to me that I heard similar arguments when casino gambling became a constitutional amendment a few

years back. That amendment legalized gambling in the state and limited the number and location for casinos. Doesn’t the marijuana amendment sound familiar? The opinion went on to say “The Ohio Legislature agrees, putting another issue on the ballot, Issue 2, that would make it illegal to enshrine such a business model into the constitution.” Didn’t the casino issue enshrine such

a business model? Didn’t the Ohio Legislature give the casino proposal its blessing and now condemns the marijuana issue? If passed, how would Issue 2 affect the casino monopoly set in constitutional stone? I love it when government is consistent. — Jim Burns North Olmsted

YOUR TURN Crain’s Cleveland Business welcomes letters and commentaries from readers. Letters to the editor should be no more than 200 words in length. Commentaries should be 650 words or fewer. Submissions should be exclusive to Crain’s. Please include your complete name and city from which you are writing, and a telephone number for fact-checking purposes. Email: emcintyre@crain.com Mail: Crain’s Cleveland Business, 700 West St. Clair Ave., Suite 310, Cleveland, OH, 44113

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CRAIN’S SUMMER IN THE CITY PHOTO CONTEST Football season is here.

“West Side Market miles� — By Leigh Owen Leigh Owen was starting an 18-mile training run with her husband and friends when she noticed the beautiful morning light. They were headed eastbound on the Hope Memorial Bridge when she captured this image. Owen, of Brecksville, is a fitness instructor with the City of Seven Hills Recreation Center. She is currently training for the Nationwide Children’s Hospital Columbus Marathon in October. Her prize includes two tickets to the Rock and Roll Hall of Fame and Museum.

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PROUD SUPPORTER OF THE CLEVELAND BROWNS Summer in the City is a contest inviting people to share their Cleveland photos. Weekly prizes include gift certificates to metro Cleveland venues, grocery stores and retailers at a value of $50 to $100. Three grand prizes will be awarded after Labor Day. Add images at crainscleveland.com/SITC.

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TALK ON THE WEB Re: A peek at the new Arcadian in Gordon Square I’m excited to visit Arcadian owner Cory Hess’ place and make it one of my regular watering holes — and eat the cuisine, too! — Emily

Re: State of the Indians Maybe the Dolans would not “lose money� if they put a decent product on the field, instead of a cheap one, and attracted more paid attendees. How is it that for several years in a row in the 1990s (pre-Dolans), the Indians were sold out each year before the season even opened? If the Dolans don’t understand how Dick Jacobs made money, maybe they should sell the team and get out of baseball. — Robert Fritz The Dolans “just want what’s best for the city of Cleveland.� Really, Mark Shapiro? Please expand on that because the only thing we see is a cheap owner putting out a mediocre product and thinking we are all going to flock to the stadium to watch another boring game and pay $8 for a beer and $4 for a hot dog. — Trey Drier The Dolans are doing very well with what they have to work with. I’m guessing, but I think top-line revenue from all sources is half in Cleveland what it is in New York and Los Angeles, with the big difference being local cable. The Indians need to continue to work through their farm system to produce good players, and they have done that. They can’t compete in the free-agent arena, as shown by the big mistakes in signing Michael Bourn and Nick Swisher. The ’90s team was developed through the farm and great scouting. If Paul Dolan needs money, he has the connections to raise it. Somebody is going to buy 30% of that

team for $200 million, and that money is going to go into scouting and the fans. — 194018

Re: Growth of food waste processor Magnus Honestly, we would love to celebrate the success of Hardy Animal Nutrients, if only its parent company, Magnus, would cough up some cash to stop the smells where we all live. — Doug Smith The Aug. 30 Crain’s story about Magnus forgot to mention how bad the entire surrounding community smells because of the company’s process.

My wife and I moved, mainly because of stink that Magnus produces on a regular basis. The neighbors have called the EPA hundreds of times, but nothing has been done. I hate you, Magnus! — Brettastic13

Re: All Browns, all the time The Browns programming on Channel 5 is basically infomercials for the Browns, seeing that they are partially produced by them. They should have stayed on Channel 3. The Channel 5 production values are not up to standards. — Alan Capers

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FINANCE FIFTH THIRD BANK, NORTHEASTERN OHIO: Neal Hellner to treasury management officer. LIBERTY BANK N.A.: Stephen Neal to vice president, SBA specialist.

FINANCIAL SERVICE

Commercial space available, Brand new indoor salt water pool with saunas, locker rooms and roof top sundeck. 3,000 sq. ft. to 30,000 sq. ft. 1HZO\ XSGDWHG VWDWH RI WKH DUW ¿WQHVV FHQWHU Complete renovation. Convenience market. Brand new build out. On-site management and maintenance. Access to the building on E. 12th St. and E. 13th St. with 2 manned security stations, 24/7. Key fob access for tenants. Wireless, cable and IT services. Attached garage parking. Central conferencing center and lounge.

Dry cleaning service. On-site restaurants. On-site car rental agency. Florist. Concierge services. ATM machine. Bike storage.

SOUTHWEST GENERAL: Steven P. Bossart to vice president, development.

EDUCATION

HORSESHOE CASINO CLEVELAND: Shawn Matthews to director, food and beverage.

1701 EAST 12TH STREET | CLEVELAND, OHIO 44114

FOUNDATION: Steven P. Bossart to executive director.

SUMMA HEALTH: Michael Hughes, M.D., to president, Summa Cardiovascular Institute.

ENTERTAINMENT

R ESERV E SQUA R E

Send information for Going Places to dhillyer@crain.com

AXA ADVISORS: Jennifer Sharpe, Michael Schmitz, Donald Rice and Brent Sullivan to financial professionals, Retirement Benefits Group; Patrick Martin to financial consultant. BOBER MARKEY FEDOROVICH: Steve Swann to partner, transaction advisory services, valuation and litigation support; Tod Wagner to managing partner; Karyn Sullivan to chief operating officer.

AON RISK SOLUTIONS: Brian Slife to resident managing director, Northeast Ohio operations.

LEGAL ULMER & BERNE: Jeffrey S. Dunlap and Paul R. Harris to co-chairs and Robin D. Miller to vice chair, Business Litigation Practice Group.

MANUFACTURING NOOK INDUSTRIES: Jonathan Kasberg to regional sales manager.

MARKETING FALLS COMMUNICATIONS: Jennifer Bahun to account supervisor; Samantha Eastman to senior account executive; Erica Tan to account executive.

NONPROFIT ALTENHEIM SENIOR LIVING: Donna T. Casey to director of marketing.

RIVERSIDE CO.: Richard Lan to senior advisor.

AMERICAN RED CROSS, NORTHEAST OHIO REGION: Jim McIntyre to regional communications and marketing manager.

WESTERN RESERVE VALUATION SERVICES: Jeffrey A. Szczypinski to associate.

VISITING NURSE ASSOCIATION OF OHIO: Holly Couglin to chief development officer.

HEALTH CARE

REAL ESTATE

SOUTHWEST COMMUNITY HEALTH

TRANSACTION REALTY: Tina Kish

and Yolanda Smith to sales associates.

STAFFING DIRECT CONSULTING ASSOCIATES: Jessica Ondo to IT recruiter.

BOARDS CLEVELAND-AKRON FINANCIAL SERVICE PROFESSIONALS: Arthur P. Ward Jr. to president; James P. Gero to president elect; Howard Kass to secretary/treasurer; Kemper D. Arnold to immediate past president. NATIONAL ASSOCIATION OF INSURANCE AND FINANCIAL ADVISORS OF CLEVELAND: Margaret Scheiman to president; Justin Pagnard to president elect; Ryan Carlson to vice president; Brian Edelstein to secretary/treasurer; Tasha Jo Hill to immediate past president; James Gaydosh to state and national committeeman.

AWARDS BARD COLLEGE: Harvey L. Sterns (University of Akron) received the John Dewey Award for Outstanding Public Service. LITIGATION COUNSEL OF AMERICA: Frances Floriano Goins (Ulmer & Berne) to fellow, Trial Lawyer Honorary Society. OHIO ASSOCIATION OF GERONTOLOGY AND EDUCATION: Harvey L. Sterns (University of Akron) received the 2015 Lifetime Achievement Award.

Partnership Melissa

*

I have a mission. Every day I come to work focused on serving members of my community. My Client Advisor from FirstMerit’s Charitable Advisory Group understands this—imparting financial expertise and partnering with me so that I can continue to focus on my mission. Because when the business side of our organization is well cared for, I can better care for those in need. TO L E A R N MOR E A B O U T F I R S T M E R I T P R I VA T E B A N K , C O N T A C T : Tom Anderson, Senior Vice President,

at 216-694-5678 or tom.anderson@firstmerit.com. Follow the latest market trends @firstmerit_mkt *Melissa reflects a composite of clients with whom we’ve worked; she does not represent any one person. Non-deposit trust products are not insured by the FDIC; are not deposits or obligations of FirstMerit Bank, N.A, or any of its affiliates; are not guaranteed by FirstMerit Bank, N.A or any of its affiliates; and are subject to investment risk, including possible loss of principal invested.

Member FDIC

2801_FM15

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SEPTEMBER 7 - 13, 2015

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HEALTHCARE DIRECTORY ADDICTION SERVICES Glenbeigh and Glenbeigh Outpatient Centers 2863 state Route 45, Rock Creek 44084 (800) 234-1001; www.glenbeigh.com Top Executive: Pat Weston-Hall Lake-Geauga Recovery Centers Inc. 9083 Mentor Ave., Mentor 44060 (440) 255-0678, www.lgrc.us Top Executive: Melanie J. Blasko Lorain County Alcohol & Drug Abuse Services Inc. 2115 W. Park Drive, Lorain 44053 (440) 989-4900, www.lcada.com Top Executive: Thomas D. Stuber New Destiny Treatment Center 6694 Taylor Road, Clinton 44216 (330) 825-5202 www.newdestinytc.org Top Executive: Dr. Robert W. Bolois New Directions Inc. 30800 Chagrin Blvd., Cleveland 44124 (216) 591-0324, www.newdirect.org Top Executive: Mike Matoney Oakview Behavioral Health Services 18697 Bagley Road Middleburg Heights 44130 (440) 816-8200, www.swgeneral.com Top Executive: Thomas A. Selden Recovery Resources 3950 Chester Ave., Cleveland 44114 (216) 431-4131, www.recres.org Top Executive: Pamela Gill

ASSOCIATIONS & PROFESSIONAL GROUPS Academy of Medicine of Cleveland & Northern Ohio 6100 Oak Tree Blvd., Suite 440 Cleveland 44131 (216) 520-1000, www.amcno.org Top Executive: Elayne R. Biddlestone Akron Regional Hospital Association 3200 W. Market St., Suite 200 Akron 44333 (330) 873-1500, www.arha.org Top Executive: Sarah M. Metzger Alzheimer’s Association Cleveland Area Chapter 23215 Commerce Park Drive, Suite 300, Beachwood 44122 (216) 342-5556, www.alz.org/cleveland Top Executive: Nancy B. Udelson American Cancer Society, North Region 10501 Euclid Ave., Cleveland 44106 (888) 227-6446, www.cancer.org Top Executive: Sarah Wells American Diabetes Association 4500 Rockside Road, Suite 440 Independence 44131 (216) 328-9989, www.diabetes.org Top Executive: Jill Pupa, Lori Butterfield The Arc of Greater Cleveland 2421 Community College Ave. Cleveland 44115, (216) 622-0755 www.thearcofgreatercleveland.org Top Executive: Cynthia Norwood Arthritis Foundation, Great Lakes Region, Northeastern Ohio 4630 Richmond Road, Suite 240

Cleveland 44128 (216) 285-2836, www.arthritis.org Top Executive: Darby Bentoff Schwartz Center for Health Affairs 1226 Huron Road East, Cleveland 44115 (216) 696-6900, www.chanet.org Top Executive: Bill Ryan Christian Healthcare Ministries Inc. 127 Hazelwood Ave., Barberton 44203 (800) 791-6225 www.christianhealthcareministries.org Top Executive: Rev. Howard S. Russell Epilepsy Association 2831 Prospect Ave., Cleveland 44115 (216) 579-1330, www.epilepsyinfo.org Top Executive: Kelley S. Needham Eversight Ohio/Cleveland Eye Bank Foundation 6700 Euclid Ave., Suite 101 Cleveland 44103, (216) 706-4220 www.eversightvision.org Top Executive: Debbie J. May-Johnson Fibromuscular Dysplasia Society of America 20325 Center Ridge Road, Suite 360 Rocky River 44116 (216) 834-2410, www.fmdsa.org Top Executive: Pamela Mace Health Action Council 6133 Rockside Road, Suite 210 Independence 44131, (216) 328-2200 www.healthactioncouncil.org Top Executive: Patty Starr HIMSS 1 Saint Clair Ave., NE Cleveland 44114, (216) 416-6228 www.himssinnovationcenter.org Top Executive: John Paganini I. Language Bank Box 145, Cleveland 44030 (440) 599-9999 www.internationallanguagebank.com The North American Menopause Society 5900 Landerbrook Drive, Suite 390 Mayfield Heights 44124 (440) 442-7550, www.menopause.org Top Executive: Carolyn Develen North East Ohio Health Underwriters Association 28022 Osborn Road, Bay Village 44140 (440) 899-8089, www.neohua.com Top Executive: Mark Ruzic Ohio League for Nursing 20545 Center Ridge Road, Suite 205 Rocky River 44116, (440) 331-2721 www.ohioleaguefornursing.org Top Executive: Jane F. Mahowald

www.neurosmedical.com Top Executive: Jon Snyder

DENTISTS DENTAL GROUPS Akron Dental Concepts 1000 S. Cleveland-Massillon Road, Suite 13, Fairlawn 44333 (330) 666-7440 www.akrondentalconcepts.com Top Executive: Stephanie Aldrich Akron Family Dental 1575 Vernon Odom Boulevard Akron 44241, (330) 753-7734 www.akronfamilydental.com Top Executive: Dr. Jeff Rosenthal Andrew W. Skorobatckyj, D.D.S. 7444 State Road, Parma 44134 (440) 742-8015 www.skororthodontics.com Top Executive: Andrew W. Skorobatckyj The Center for Advanced Dentistry 3690 Orange Place, Suite 180 Beachwood 44122 (216) 595-1710, www.cfad.net Top Executive: Benjamin P. Hornstein Dr. Wendy A. Synenberg & the Award Winning Smile Squad 8224 Mentor Ave., Suite 142 Mentor 44060 (440) 974-4449, www.drwendy.com Top Executive: Dr. Wendy Synenberg Jennifer G. Robb, D.M.D. 1612 Cooper Foster Park Road Lorain 44053, (440) 960-1940 www.drjrobb.com Top Executive: Dr. Jennifer G. Robb Joel M. Salon, D.D.S., M.D. Inc. 34501 Aurora Road, Suite 301 Solon 44139, (440) 248-9097 Top Executive: Dr. Joel M. Salon Kenneth J. Wolnik, DDS 6363 York Road, Suite 202 Parma Heights 44130 (440) 888-5055, www.drwolnik.com Top Executive: Kenneth J. Wolnik, D.D.S. Streetsboro Dental 1727 Streetsboro Plaza Streetsboro 44241, (330) 626-3814 www.streetsborodental.com Top Executive: Dr. Jeff Rosenthal Strongsville Center for Cosmetic and Implant Dentistry 11925 Pearl Road, Suite 206 Strongsville 44136 (440) 238-1555, www.drweiser.com Top Executive: Dr. Richard S. Weiser

EDUCATION

BIOSCIENCE Austen BioInnovation Institute in Akron 47 N. Main St., Akron 44308 (330) 572-7544, www.abiakron.org Top Executive: Joseph Randazzo

Diabetes Partnership of Cleveland 3601 S. Green Road, Suite 100 Cleveland 44122, (216) 591-0800 www.diabetespartnership.org Top Executive: Lori A. Weinstein

BioEnterprise Corp. 11000 Cedar Ave., Suite 100 Cleveland 44106, (216) 658-3999 www.bioenterprise.com Top Executive: Aram Nerpouni

Education Alternatives 7777 Exchange St., Suite 4 Valley View 44125, (440) 332-9360 www.easchools.org/central-office-staff Top Executive: Gerald Swartz

Neuros Medical Inc. 35010 Chardon Road, Suite 210 Willoughby Hills 44094 (440) 951-2565

FITNESS & WELLNESS Akron General Health & Wellness Centers

4125 Medina Road, Akron 44333 (330) 665-8005, www.akrongeneral.org Top Executive: Doug Ribley Barre Cleveland Inc. 3737 Park East Drive, Suite 209 Beachwood 44122, (216) 342-4229 www.barrecleveland.com Top Executive: Yanna Salwan Be Well Solutions 30625 Solon Road, Suite C Cleveland 44139, (216) 378-0888 www.bewellsolutions.com Top Executive: Egon Singerman, Bill Frankel, Dr. Michael Schechter, Dr. Ron Golovan Body Sculpting by Exterior Designs Inc. P.O. Box 267, Chagrin Falls 44022 (440) 729-3463, www.flexcity.com Top Executive: Deborah Montesanto

Body Technic Systems Inc. 33790 Bainbridge Road, Suite 205 Solon 44139 (440) 248-9255, www.bodytechnic.com Top Executive: Sunday Homitz Bravo Wellness 20445 Emerald Parkway Drive SW, Suite 400, Cleveland 44135 (877) 662-7286, www.bravowell.com Top Executive: Jim Pshock The Center for Health & Fitness at UH Avon Health Center 1997 Healthway Drive, Avon 44011 (440) 988-6801, www.emhfitness.org Top Executive: Brad Calabrese Central Wellness 5133 Darrow Road, Hudson 44236 (330) 655-2377 www.centralwellnessohio.com Top Executive: Jerry Lynch Chagrin Fitness 27629 Chagrin Blvd., Suites 108/109 Woodmere 44122 (216) 464-2350, www.chagrinfit.com Top Executive: John Palsa, Jeff Palsa Cleveland Chiropractic and Integrative Health Center 5572 B Brecksville Road Independence 44131 (216) 952-3830 http://clechiropractic.com Top Executive: Dr. Candace R. Gesicki Conquest 3601 Green Road, Suite 210 Beachwood 44122, (216) 371-9301 www.donnanowak.com Top Executive: Donna R. Nowak Correct Breathing Concepts LLC 7097 Brightwood Drive Concord 44077 (440) 357-5834 www.correctbreathing.com Top Executive: Carol Baglia

Ergonomically Correct LLC P.O. Box 30089, Cleveland 44130 (216) 676-6884, www.ergocorrect.com Top Executive: David C. Pfeil Essential Elements, A Therapeutic Massage Studio 7055 Engle Road, Suite 401 Middleburg Heights 44130 (440) 826-1100 www.essentialelementsmassage.com Top Executive: Natalie Rumbaugh Fairview Hospital Wellness Center 3035 Wooster Road Rocky River 44116, (440) 356-0670 www.fairviewhospital.org/wellnesscenter Top Executive: Anne Kuenzel Ganeden 5800 Landerbrook Drive, Suite 300 Mayfield Heights 44124, (440) 229-5200 www.ganedenprobiotics.com Top Executive: Andrew Lefkowitz, Mike Bush Gertrud Hensse, RN, CPHN, HTCP, CCAP 7003 Pearl Road, Suite 102 Middleburg Heights 44130 (440) 845-6314 Gilroy Therapy & Movement Studio 27300 Cedar Road, Beachwood 44122 (216) 595-7345 www.lewisaquaticcenter.org Top Executive: Steven Raichilson Green Tara Yoga & Healing Arts 2450 Fairmount Blvd. Cleveland Heights 44106 (216) 382-0592, www.greentarayoga.com Top Executive: Karen Allgire Hudson Center for Healing Touch 118 Clairhaven Drive, Hudson 44236 (330) 554-2466 www.healingtouchhudson.com Top Executive: Nancy A. Strick Jane Pernotto Ehrman, M.Ed., CHES 1380 Pearl Road, Brunswick 44212 (440) 213-1872 www.imagesofwellness.com Top Executive: Jane Ehrman LifeWorks of Southwest General 7390 Old Oak Blvd., Middleburg Heights 44130, (440) 816-4210 www.lifeworksfitness.net Top Executive: Karen Raisch-Siegel Mandel Jewish Community Center of Cleveland 26001 S. Woodland Road Beachwood 44122, (216) 831-0700 www.mandeljcc.org Top Executive: Michael G. Hyman Michelle Star Yoga and Healing Arts LLC c/o Synergy, 625 W. Bagley Rd., 2nd floor, Berea 44017, (216) 789-3765 www.michellestaryoga.com

Crooked River T’ai Chi and Massage Therapy Center 5921 Broadview Road, Parma 44134 (216) 410-7645 www.crookedrivertaichi.com Top Executive: Janet L. Venditti, Jim M. Holz

No Diet Weight Solution LLC 7 Saratoga Court Beachwood 44122 (216) 464-8778 www.nodietweightsolution.com Top Executive: Dee Wolk, Diane Davie

Drug Awareness and Prevention Inc. 20800 Center Ridge Road, Suite 316 A Rocky River 44116, (216) 432-6620 www.drugawarenessandprevention.org Top Executive: Nancy E. Pommerening

Pathways To Clarity LLC 320 Kenmore Drive, Bay Village 44140 (440) 292-7658 www.pathwaystoclarity.com Top Executive: Susan Barack

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Specialty Fitness Equipment 5188 Richmond Road Cleveland 44146, (216) 282-5880 www.specialtyfitnessequipment.com Top Executive: Chuck Herman

Care Services Inc. DBA Care Services 34099 Melinz Parkway, Unit F Eastlake 44095, (440) 954-7722 www.careserviceshealth.com Top Executive: Marc D. Wolf

SpiritHeal Institute for Intuition and Healing 9953 Woodruff Lane Newbury 44065, (440) 564-1190 www.spirithealonline.com Top Executive: Sarah Weiss

Care Services Inc. DBA Diabetic Care Services & Pharmacy 34099 Melinz Parkway, Unit F1 Eastlake 44095, (440) 954-7709 www.diabeticcareservices.com Top Executive: Marc D. Wolf

The Studio Cleveland-Thai, Yoga, Massage 1395 W. 10th St., Suite 120 Cleveland 44113, (216) 621-7085 www.thestudiocleveland.com Top Executive: Sarah Cheiky

Clinical Specialties 6955 Treeline Drive, Brecksville 44141 (888) 873-8999 www.clinicalspecialties.com Top Executive: Edward J. Rivalsky, Eric Bornstein, Bruce Yule

Tai Chi Institute USA 8440 E. Washington St., Suite 106 Chagrin Falls 44023, (330) 564-7558 www.taichicleveland.com Top Executive: Sifu Edward Niam

ComForcare Home Care 978 East Aurora Road Macedonia 44056, (440) 914-0334 www.neohio.comforcare.com Top Executive: Maria Dubnicka

Time for Change-Hypnosis 4168 Rocky River Drive Cleveland 44111, (216) 210-5504 Top Executive: Jerome E. Masek

Discount Drug Mart Inc. 211 Commerce Drive, Medina 44256 (330) 725-2340 www.discount-drugmart.com Top Executive: Don Boodjeh

Train 2U LLC 2711 Hampton Road, Rocky River 44116 (440) 552-0338, www.train2u.com Top Executive: Keith Zimcosky Vedas 1360 E. Ninth St., Suite 640 Cleveland 44114, (216) 298-5115 www.vedasfitness.com Top Executive: Tammy Polenz Vision Yoga & Wellness 1861 W. 25th St., Cleveland 44113 (216) 348-1111, www.visionyoga.net Top Executive: Theresa Gorski Weight Management Partners Inc. 24755 Chagrin Blvd., Suite 310 Beachwood 44122 (440) 338-6009, www.weightmp.com Top Executive: Dr. Barbara E. Berkeley, Darlene A. Paluf Wellness Council of Northeast Ohio 433 S. State St., Painesville 44077 (440) 354-8057 www.healthyohio.org/wellnesscouncil Top Executive: Stephen A. Musgrave Wellness Evolution 3791 Green Road, Beachwood 44122 (440) 995-0303 www.wellnessevolution.com Top Executive: Gloria B. Treister Wellness IQ 4700 Rockside Road, Summit One, Suite 530, Independence 44131 (216) 264-2727, www.wellnessiq.net Top Executive: David Drap Workplace Health Inc. 6090 Royalton Road, Suite 306 North Royalton 44133, (440) 463-6921 www.workplacehealthinc.com Top Executive: Shanna Dunbar

HOME HEALTH CARE ABC/Always Best Care of Greater Cleveland Inc. 951 Main St., Grafton 44044 (440) 791-7177 www.alwaysbestcaregreatercleveland.com Top Executive: Jim Bechtold Age Line 4350 Rocky River Drive, Cleveland 44135 (216) 941-9990, www.age-line.com Top Executive: Dr. June Pearce, Norma Robinette Angels In Waiting Home Care 38052 Euclid Ave., Suite 208 Willoughby 44094, (440) 946-0349 www.aiwhomecare.com Top Executive: Robert A. Boyd

Easter Seals Northern Ohio 2173 North Ridge Road, Suite G Lorain 44035, (440) 324-6600 http://noh.easterseals.com Top Executive: Sheila Dunn ESI Skilled Home Care from Benjamin Rose 11890 Fairhill Road, Cleveland 44120 (216) 791-8000, www.benrose.org Top Executive: Richard Browdie FirstChoice Home Health Care 1457 W. 117th St., Cleveland 44107 (216) 521-2222, www.rxprn.com Top Executive: Charles Slone Great Lakes Caring 5966 Heisley Road, Mentor 44060 (440) 358-9200 www.greatlakescaring.com Top Executive: Charlotte Kistler Griswold Home Care 26260 Center Ridge Road, Suite B Westlake 44145, (440) 835-7900 www.griswoldhomecare.com Top Executive: Scott Kaase Hanson Services In-Home Assisted Living Providers 17017 Madison Ave. Lakewood 44107, (216) 226-5425 www.hansonservices.com Top Executive: Mary Ann Hanson Heartland Home Health Care 4807 Rockside Road Independence 44131 (216) 901-1464 www.heartlandhomehealth.com Top Executive: Sue Piazza Holy Family Home Health Care 6707 State Road, Parma 44134 (216) 939-7628 www.staugministries.org Top Executive: Kristin Graham Home Health Services of Southwest General 17951 Jefferson Park Road Middleburg Heights 44130 (440) 816-6850, www.swgeneral.com Top Executive: Thomas A. Selden Home Instead Senior Care 26777 Lorain Road, Suite 406 North Olmsted 44070, (440) 734-7441 homeinstead.com/257 Top Executive: Geoffrey Moore Home Instead Senior Care 7650 First Place, Suite H, Building B Oakwood Village 44146 (440) 914-1400, www.homeinstead.com

WWW.CRAINSCLEVELAND.COM

Top Executive: Scott D. Radcliff, Jeannie Radcliff Jewish Family Service Association of Cleveland 3659 S. Green Road, Suite 322 Beachwood 44122, (216) 292-3999 www.jfsa-cleveland.org Top Executive: Susan Bichsel JFSA Care at Home 3659 S. Green Road, Suite 316 Beachwood 44122, (216) 378-8660 www.jfsacareathome.org Top Executive: Lisa Goodlow Judson Home Care 2181 Ambleside Drive Cleveland 44106, (216) 791-7057 www.judsonsmartliving.org Top Executive: Cynthia H. Dunn Kendal Northern Ohio dba Senior Independence 600 Kendal Drive, Oberlin 44074 (440) 775-9894 www.kendalnorthernohio.org Top Executive: Barbara W. Thomas Kindred at Home-Cleveland 5386 Majestic Parkway Bedford Heights 44146 (440) 232-1800 www.kindredathome.com Kindred at Home–Mentor 8224 Mentor Ave., Mentor 44060 (440) 974-2985 www.kindredathome.com Lake Health Home Care Services 7590 Auburn Road Concord 44077, (440) 639-0900 www.lakehealth.org Top Executive: Janie Racer Menorah Park Home Health Services 27100 Cedar Road, Beachwood 44122 (216) 595-7333, www.menorahpark.org Top Executive: Steven Raichilson Mercy Home Health Care 3700 Kolbe Road, Lorain 44053 (440) 960-4000, www.mercyonline.org Top Executive: Edwin M. Oley Mobile Meals Inc. 1063 S. Broadway St. Akron 44311, (800) 852-6325 www.mobilemealsinc.org Top Executive: Blake Babcock Montefiore Homecare One David Myers Parkway Beachwood 44122, (216) 910-2471 www.montefiorecare.org Top Executive: Seth Vilensky North Coast Accessible Homes 14221 Broadway Ave. Cleveland 44125, (216) 365-2614 http://northcoastaccess.org Top Executive: Mike Stafford North Coast Community Homes 14221 Broadway Ave. Cleveland 44125-1953 (216) 662-1880, www.ncch.org Top Executive: Stephen McPeake Personal Touch Home Care of Ohio Inc. 4500 Rockside Road, Suite 460 Independence 44131, (216) 986-0885 www.pthomecare.com Top Executive: Charlene L. Szunyog

Platinum Home Health Services 5813 Mayfield Road, Suite 201 Mayfield Heights 44124, (440) 995-0202 www.homehealthohio.org Top Executive: Marc A. Vasil Seasons of Care 16500 Sprague Road, Suite C Middleburg Heights 44130 (440) 274-4000 www.seasonsofcare.com Top Executive: Tricia Schaum

SEPTEMBER 7 - 13, 2015

UH Elyria Medical Center Home Care 90 E. Broad St., Elyria 44035 (440) 329-7519, www.uhelyria.org Top Executive: Donald S. Sheldon, M.D. University Hospitals Home Care Services 4510 Richmond Road Warrensville Heights 44128 (216) 844-4663, www.uhhomecare.com Top Executive: Keith Maitland Visiting Angels Senior Homecare 12200 Fairhill Road, 2nd floor, B-wing Cleveland 44120, (216) 231-6400 www.visitingangels.com/cleveland Top Executive: Constance Hill-Johnson, Kevin Johnson Visiting Nurse Association of Ohio 2500 E. 22nd St., Cleveland 44115 (877) 698-6264, www.vnaohio.org Top Executive: Claire M. Zangerle Visiting Nurse Service and Affiliates 1 Home Care Place, Akron 44320 (800) 362-0031, www.vnsa.com Top Executive: Karen L. Mullen

HOSPICE Heartland Hospice 4807 Rockside Road Independence 44131, (216) 901-1464 www.heartlandhospice.com Top Executive: Sue Piazza Holy Family Hospice 6707 State Road, Parma 44134 (440) 888-7722 www.holyfamilyhome.com Top Executive: Kristin Graham Hospice of the Western Reserve 17876 St. Clair Ave., Cleveland 44110 (800) 707-8922, www.hospicewr.org Top Executive: William E. Finn Hospice of Visiting Nurse Service 3358 Ridgewood Road, Akron 44333 (800) 335-1455, www.vnsa.com Top Executive: Karen L. Mullen Hospice Services of Southwest General 18659 Drake Road Strongsville 44136, (440) 816-5040 www.swgeneral.com Top Executive: Thomas A. Selden Mercy New Life Hospice 3500 Kolbe Road, Lorain 44053 (440) 934-1458 www.mercyonline.org Top Executive: Edwin M. Oley Vinney Hospice and Palliative Care of Montefiore One David Myers Parkway Beachwood 44122, (216) 910-2650 www.montefiorecare.org Top Executive: Seth Vilensky

HOSPITALS & HEALTH SYSTEMS Affinity Medical Center 875 Eighth St. N.E. Massillon 44646 (330) 832-8761 www.affinitymedicalcenter.com Top Executive: Ron Bierman Akron Children’s Hospital One Perkins Square Akron 44308 (330) 543-1000 www.akronchildrens.org Top Executive: William H. Considine Akron General Edwin Shaw Rehabilitation 330 Broadway St. East Cuyahoga Falls 44221 (330) 436-0910 www.edwinshaw.org Top Executive: Lynne Blinco

Akron General Health System One Akron General Ave. Akron 44307, (330) 344-6000 www.akrongeneral.org Top Executive: Dr. Thomas (Tim) L. Stover Akron General Medical Center One Akron General Ave. Akron 44307, (330) 344-6000 www.akrongeneral.org Top Executive: Alan J. Papa American Red Cross Northern Ohio Blood Services Region 3747 Euclid Ave., Cleveland 44115 (216) 431-3010 www.redcross.org/neo Top Executive: Mike Parks Ashtabula County Medical Center 2420 Lake Ave., Ashtabula 44004 (440) 997-2262, www.acmchealth.org Top Executive: Michael J. Habowski Aultman Hospital 2600 Sixth St. S.W., Canton 44710 (330) 452-9911, www.aultman.org Top Executive: Christopher E. Remark Cleveland Clinic 9500 Euclid Ave., Cleveland 44195 (216) 444-2200 www.clevelandclinic.org Top Executive: Toby Cosgrove, M.D. Cleveland Clinic Children’s 9500 Euclid Ave., Cleveland 44195 (216) 444-5437 clevelandclinicchildrens.org Top Executive: Giovanni Piedimonte, M.D. Cleveland Clinic Children’s Hospital for Rehabilitation, Shaker Campus 2801 Martin Luther King Jr. Drive Cleveland 44104, (216) 636-5437 clevelandclinicchildrens.org/ rehabhospital Top Executive: Michael J. McHugh, M.D. Cleveland Clinic Regional Hospitals 25875 Science Park Drive Beachwood 44122, (216) 445-2740 www.clevelandclinic.org Top Executive: Brian Donley, M.D. Cleveland Cord Blood Center 25001 Emery Road, Suite 150 Cleveland 44128, (866) 922-3668 www.clevelandcordblood.org Top Executive: Phil Paul, M.D. Euclid Hospital 18901 Lake Shore Blvd. Euclid 44119, (216) 531-9000 www.euclidhospital.org Top Executive: Daniel Napierkowski, M.D. Fairview Hospital 18101 Lorain Ave. Cleveland 44111, (216) 476-7000 www.fairviewhospital.org Top Executive: Neil P. Smith, D.O. Hillcrest Hospital 6780 Mayfield Road Mayfield Heights 44124 (440) 312-4500 www.hillcresthospital.org Top Executive: Brian Harte, M.D. Kindred Hospital Cleveland 11900 Fairhill Road Cleveland 44120, (216) 983-8030 www.kindredcleveland.com Top Executive: Vanessa Acevedo Kindred Hospital Cleveland-Gateway 2351 E. 22nd St., 7th Floor Cleveland 44115, (216) 592-2175 www.kindredgateway.com Top Executive: Prentice Lipsey Lake Health 7590 Auburn Road Concord Township 44077 (440) 375-8100, www.lakehealth.org Top Executive: Cynthia Moore-Hardy

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4.0 STAR RATING

SUMMIT COUNTY’S ONLY 4-STAR FULL SERVICE HOSPITAL

At Western Reserve Hospital, we know excellent, high-quality care is only part of what makes a hospital visit truly exceptional. Your overall experience is also shaped by our helpful, friendly VWDŕŠ” RXU VNLOOHG SK\VLFLDQV DQG WKH PDQ\ FRQYHQLHQFH RSWLRQV ZH RŕŠ”HU LQFOXGLQJ IUHH YDOHW parking, discharge pharmacy service, 24/7 visitation hours and much more. We are proudly physician owned and operated, which means that the physicians who lead Western Reserve work and live in the communities they serve.

1900 23rd Street, Cuyahoga Falls, OH 44223 (330) 971-7000 | westernreservehospital.org

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WWW.CRAINSCLEVELAND.COM

Lakewood Hospital 14519 Detroit Ave., Lakewood 44107 (216) 521-4200 www.lakewoodhospital.org Top Executive: Shannan Ritchie

The MetroHealth System 2500 MetroHealth Drive Cleveland 44109, (216) 778-7800 www.metrohealth.org Top Executive: Akram Boutros, M.D.

Lifebanc 4775 Richmond Road, Cleveland 44128 (216) 752-5433, www.lifebanc.org Top Executive: Gordon Bowen

Sisters of Charity Health System 2475 E. 22nd St., Cleveland 44115 (216) 696-5560 www.sistersofcharityhealth.org Top Executive: Terrence P. Kessler

Lodi Community Hospital 225 Elyria St., Lodi 44254 (330) 948-1222, www.lodihospital.org Top Executive: Dana Kocsis Lutheran Hospital 1730 W. 25th St., Cleveland 44113 (216) 696-4300 www.lutheranhospital.org Top Executive: Donald Malone, M.D. Marymount Hospital 12300 McCracken Road Garfield Heights 44125 (216) 581-0500, www.marymount.org Top Executive: Richard D. Parker, M.D. Medina Hospital 1000 E. Washington St. Medina 44256, (330) 725-1000 www.medinahospital.org Top Executive: Thomas Tulisiak, M.D. Mercy 3700 Kolbe Road, Lorain 44053 (440) 960-4000, www.mercyonline.org Top Executive: Edwin M. Oley Mercy Allen Hospital 200 W. Lorain St., Oberlin 44074 (440) 775-1211 www.mercyonline.org Top Executive: Joe Sober Mercy Medical Center 1320 Mercy Drive N.W. Canton 44708, (330) 489-1000 www.cantonmercy.org Top Executive: Thomas E. Cecconi

South Pointe Hospital 20000 Harvard Road Warrensville Heights 44122 (216) 491-6000 www.southpointehospital.org Top Executive: Robert Juhasz, D.O. Southwest General 18697 Bagley Road Middleburg Heights 44130 (440) 816-8000, www.swgeneral.com Top Executive: Thomas A. Selden St. John Medical Center 29000 Center Ridge Road Westlake 44143, (440) 835-8000 stjohnmedicalcenter.net Top Executive: William A. Young St. Vincent Charity Medical Center 2351 E. 22nd St., Cleveland 44115 (216) 861-6200 www.stvincentcharity.com Top Executive: David F. Perse, M.D. Summa Health 1077 Gorge Blvd., Akron 44310 (330) 375-3000 www.summahealth.org Top Executive: Thomas Malone, M.D. TriPoint Medical Center 7590 Auburn Road Concord Township 44077 (440) 375-8100, www.lakehealth.org Top Executive: Cynthia Moore-Hardy

(866) 844-2273 www.rainbowbabies.org Top Executive: Patricia DePompei University Hospitals 11100 Euclid Ave., Cleveland 44106 (866) 844-2273, www.uhhospitals.org Top Executive: Thomas F. Zenty III University Hospitals Ahuja Medical Center 3999 Richmond Road Beachwood 44122, (216) 844-2273 www.uhhospitals.org/ahuja Top Executive: Susan Juris University Hospitals Bedford Medical Center, a campus of UH Regional Hospitals 44 Blaine Ave., Bedford 44146 (440) 735-3900, www.uhbedford.org Top Executive: Robert G. David

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University Hospitals Richmond Medical Center, a campus of UH Regional Hospitals 27100 Chardon Road Richmond Heights 44143 (440) 585-6500, www.uhrichmond.org Top Executive: Robert G. David

University Hospitals Conneaut Medical Center 158 W. Main Road, Conneaut 44030 (440) 593-1131, www.uhconneaut.org Top Executive: M. Steven Jones

West Medical Center 36000 Euclid Ave., Willoughby 44094 (440) 953-9600, www.lakehealth.org Top Executive: Cynthia Moore-Hardy

University Hospitals Elyria Medical Center 630 E. River St., Elyria 44035 (440) 329-7500 www.uhhospitals.org/elyria Top Executive: Donald S. Sheldon, M.D. University Hospitals Geauga Medical Center 13207 Ravenna Road, Chardon 44024 (440) 285-6000, www.uhgeauga.org Top Executive: M. Steven Jones

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University Hospitals Portage Medical Center 6847 N. Chestnut St., Ravenna 44266 (330) 297-0811 www.robinsonmemorial.org Top Executive: Stephen Colecchi

Veterans Affairs - Louis Stokes Cleveland VAMC 10701 East Blvd., Cleveland 44106 (216) 791-3800 www.cleveland.med.va.gov Top Executive: Susan M. Fuehrer

3.49

BUSINESS EQUIPMENT FINANCING

University Hospitals Parma Medical Center 7007 Powers Blvd., Parma 44129 (440) 743-3000 uhhospitals.org/parma Top Executive: Nancy Tinsley

University Hospitals Case Medical Center 11100 Euclid Ave., Cleveland 44106 (216) 844-2273, www.uhhospitals.org Top Executive: Fred C. Rothstein, M.D.

University Hospitals Geneva Medical Center 870 W. Main St., Geneva 44041 (440) 466-1141, www.uhgeneva.org Top Executive: M. Steven Jones

UH Rainbow Babies & Children’s Hospital 11100 Euclid Ave. Cleveland 44106

SEPTEMBER 7 - 13, 2015

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UnitedHealthcare 1001 Lakeside Ave., Suite 1000 Cleveland 44114, (800) 468-5001 www.unitedhealthcare.com Top Executive: Thomas Sullivan

LABORATORIES Cleveland Skin Pathology Laboratory Inc. 3737 Park East Drive, Suite 202 Beachwood 44122, (216) 464-7770 www.clevelandskinpathology.com Top Executive: Jonathan Bass, M.D. University Hospitals Case Medical Center’s Center for Human Genetics Laboratory 10524 Euclid Ave., sixth floor Cleveland 44106, (216) 844-2273 www.uhhospitals.org Top Executive: Dr. Fred Rothstein University Hospitals Dermatopathology Laboratory 11100 Euclid Ave., Bolwell 3100 Cleveland 44106, (216) 844-2273 www.uhcderm.com/diagnostic.html Top Executive: Kevin Cooper, M.D.

MEDICAL EQUIPMENT & IMAGING

Western Reserve Health System 3033 State Road, Cuyahoga Falls 44223 (330) 923-5899 www.westernreservehs.org Top Executive: Dr. Robert Kent

AdvaCare Systems Inc. 1789 E. 45th St., Cleveland 44103 (877) 884-5331 www.advacaresystems.com Top Executive: Karen Moran

Western Reserve Hospital 1900 23rd St., Cuyahoga Falls 44223 (330) 971-7000 www.westernreservehospital.org Top Executive: Dr. Robert Kent

Buckeye Medical Supply 1495 Warrensville Center Road South Euclid 44121, (216) 291-4000 Top Executive: Eric M. Buller

INSURANCE UNDERWRITERS Anthem Blue Cross and Blue Shield in Ohio 6000 Lombardo Center, Suite 200 Seven Hills 44131 (800) 551-3119, www.anthem.com Top Executive: Scott Misischia HealthSpan 1001 Lakeside Ave., Suite 1200 Cleveland 44114 (800) 524-7371, www.healthspan.org Top Executive: Kenneth Page Medical Mutual of Ohio 2060 E. Ninth St., Cleveland 44115 (216) 687-7000 www.medmutual.com Top Executive: Rick A. Chiricosta

Disk-O-Tape Inc. 23775 Mercantile Road Cleveland 44122, (216) 765-8273 www.disk-o-tape.com Top Executive: Eric Whitman G.R.E. Orthotics and Prosthetics 13376 Ravenna Road Chardon 44024, (440) 285-5785 www.greop.com Top Executive: Jonathan Naft Gill Podiatry Supply & Equipment Co. 22400 Ascoa Court Strongsville 44149, (800) 321-1348 www.gillpodiatry.com Top Executive: Ric Boggs Health Aid of Ohio 5230 Hauserman Road Cleveland 44130, (216) 252-3900

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www.healthaidofohio.com Top Executive: Carol Gilligan Kapp Surgical Instrument Inc. 4919 Warrensville Center Road Cleveland 44128, (216) 587-4400 www.kappsurgical.com Top Executive: Albert N. Santilli Leimkuehler Inc. 4625 Detroit Ave., Cleveland 44102 (216) 651-7788 www.leimkuehlerinc.com Top Executive: Robert V. Leimkuehler m2m Imaging Corp. 5247 Wilson MIlls Road Cleveland 44143, (440) 684-9690 www.m2mimaging.com Top Executive: C. Richard Hullihen NeoMed Technologies Inc. 3043 Superior Ave. Cleveland 44114, (216) 781-3535 neomedtechnologies.com Top Executive: George M. Coleman ScottCare Cardiovascular Solutions 4791 W. 150 St., Cleveland 44135 (216) 362-0550 www.scottcare.com Top Executive: Deepak Malhotra TLC Home Medical Supplies 8650 Mentor Ave. Mentor 44060, (440) 205-1483 www.tlchomemedicalsupplies.com Top Executive: Tina Austin, Mauro Coletta US Endoscopy 5976 Heisley Road Mentor 44060, (440) 639-4494 www.usendoscopy.com Top Executive: Tony Siracusa

Synapse Biomedical Inc. 300 Artino St., Oberlin 44074 (440) 774-2488 www.synapsebiomedical.com Top Executive: Anthony Ignagni ViewRay Inc. 2 Thermo Fisher Way Oakwood Village 44146 (619) 341-0724, www.viewray.com

MENTAL HEALTH SERVICES Affiliates In Behavioral Health LLC 6133 Rockside Road, Suite 207 Independence 44131 (216) 520-5969, www.affiliatesbh.org Top Executive: Nicholas Palumbo Akron General Medical Center, Dept. of Psychiatry & Behavioral Sciences 1 Akron General Ave. Akron 44307, (330) 344-6000 www.akrongeneral.org Top Executive: Jeffrey Moore, M.D. Ascentia: Pathways to Community Living 24075 Commerce Park Road Beachwood 44122 (216) 292-3999, www.ascentia.org Top Executive: Debbie Chickering Beacon Health 9220 Mentor Ave. Mentor 44060-6412 (440) 354-9924 www.beaconhealth.us Top Executive: Spence Kline Beech Brook 3737 Lander Road, Cleveland 44124 (216) 831-2255, www.beechbrook.org Top Executive: Debra Rex

Visiting Nurse Service Equipment & Supplies 160 Opportunity Parkway, Suite 101 Akron 44307, (800) 314-7000 www.vnsa.com Top Executive: Karen L. Mullen

C. J. Hendry & Associates Inc. 25000 Center Ridge Road, Suite 6 Westlake 44145 (440) 892-7034, www.cjhendry.com Top Executive: Carol J. Ball

Vital Care Products 3046 Brecksville Road Richfield 44286, (800) 837-5511 www.vitalcareproducts.com Top Executive: Mike Harbinak

Catholic Charities, Diocese of Cleveland 7911 Detroit Ave., Cleveland 44102 (216) 334-2900, www.ccdocle.org Top Executive: Patrick Gareau

Volk Optical Inc. 7893 Enterprise Drive Mentor 44060, (440) 942-6161 www.volk.com Top Executive: Peter L. Mastores

The Centers for Families and Children 4500 Euclid Ave., Cleveland 44103 (216) 432-7200 www.thecentersohio.org Top Executive: Elizabeth Newman

Medical Staffing American Medical Personnel Inc. 717 S. Main St., North Canton 44720 (330) 433-1080 www.ampowerment.com Top Executive: Vicki Stanley

Cleveland Center for Conscious Living 6611 Rockside Road, Suite 215 Independence 44131, (216) 462-0538 Top Executive: Douglas J. Moore

MEDICAL TECHNOLOGY 3D Systems Simbionix Products 7100 Euclid Ave., Suite 180 Cleveland 44103, (216) 229-2040 www.simbionix.com Top Executive: Dror Paz Codonics Inc. 17991 Englewood Drive Middleburg Heights 44130 (440) 243-1198, www.codonics.com Top Executive: Peter Botten LifeMedix LLC 3075 Smith Road, Suite 104 Akron 44333, (330) 850-1199 lifemedix.com Top Executive: Anup Salgia, M.D. OsteoSymbionics LLC 1768 E. 25th St., Cleveland 44114 (216) 881-8500 www.osteosymbionics.com Top Executive: Dorothy C. Baunach

CRAIN’S CLEVELAND BUSINESS

WWW.CRAINSCLEVELAND.COM

Coleman Professional Services 5982 Rhodes Road, Kent 44240 (330) 673-1347 www.colemanservices.org Top Executive: Nelson W. Burns Community Assessment & Treatment Services Inc. 8411 Broadway Ave., Cleveland 44105 (216) 441-0200 www.communityassessment.org Top Executive: Roxanne Wallace Crossroads 8445 Munson Road, Mentor 44060 (440) 255-1700 www.crossroads-lake.org Top Executive: Mike Matoney Dr. Lisa Stines Doane LLC 20220 Center Ridge Road, Suite 355 Rocky River 44116, (440) 249-7990 www.drlisadoane.com Top Executive: Lisa Doane Eldercare Services Institute of Benjamin Rose 11890 Fairhill Road, Cleveland 44120

(216) 791-8000, www.benrose.org Top Executive: Richard Browdie Far West Center 29133 Health Campus Drive Westlake 44145, (440) 835-6212 www.farwestcenter.com Top Executive: Helen (Kelly) M. Dylag HealthStyles LLC 9002 Fairmount Road Novelty 44072, (440) 338-1538 www.yourhealthstyles.com Top Executive: Dr. Rebecca Bode Humanistic Counseling Center LLC P.O. Box 24242, Cleveland 44124 (216) 839-2273 www.humanisticcounselingcenter.com Top Executive: Roxanne Miller

The Nord Center 6140 S. Broadway Ave. Lorain 44053, (440) 233-7232 www.nordcenter.org Top Executive: Amy Denger OhioGuidestone 202 E. Bagley Road, Berea 44017 (440) 234-2006 www.ohioguidestone.org Top Executive: Richard R. Frank Our Lady of the Wayside 38135 Colorado Ave., Avon 44011 (440) 934-6007 www.thewayside.org Top Executive: Terry Davis

Impact Solutions 23240 Chagrin Blvd., Suite 500 Beachwood 44122, (216) 292-6007 www.myimpactsolution.com Top Executive: Dr. Joel R. Gecht

PLAN (Planned Life Assistance Network) of Northeast Ohio 5010 Mayfield Road, Suite 304 Cleveland Heights 44124 (216) 321-3611 www.planneohio.org Top Executive: Debbie Chickering

Jane Miller, LISW, CDBC 5 S. Main St., Suite 205 Oberlin 44074, (800) 457-0345 www.healing-companions.com Top Executive: Jane Miller

Psychological Solutions LLC 5035 Mayfield Road, Suite 201 Lyndhurst 44124, (216) 291-1010 www.docrich.com Top Executive: Rich Weisberg

NAMI Greater Cleveland 2012 W. 25th St., Suite 600 Cleveland 44113, (216) 875-0266 www.namigreatercleveland.org Top Executive: Michael Baskin

Ravenwood Mental Health Center 12557 Ravenwood Drive Chardon 44024, (440) 285-3568 www.ravenwoodmhc.org Top Executive: Vicki Clark

17

REACH Counseling Services 5445 Smith Road, Brook Park 44142 (216) 453-1112, www.reachcs.org Top Executive: Christine Swartz Signature Health 38882 Mentor Ave., Willoughby 44094 (440) 953-9999 www.signaturehealthinc.com Top Executive: Jonathan Lee Stephanie M. Marko, M.D., LLC 24100 Chagrin Blvd., Suite 130 Beachwood 44122, (216) 359-1097 www.psychiatristcleveland.com Top Executive: Stephanie M. Marko, M.D. UH Case Medical Center Department of Psychiatry 10524 Euclid Ave., Cleveland 44106 (866) 844-2273, uhhospitals.org Top Executive: Robert Ronis, M.D. The Village Network 2000 Noble Drive, Wooster 44619 (330) 202-3802 www.thevillagenetwork.org Top Executive: Richard Graziano

OCCUPATIONAL HEALTH OCCUPATIONAL THERAPY Lake Health Occupational Health Services 7590 Auburn Road, Concord 44077 (440) 354-1990, www.lakehealth.org Top Executive: Joseph Popely

MEET IN THE HEART OF HEALTHCARE INNOVATION.

The Global Center for Health Innovation is the only facility in the world devoted to the future of healthcare. Home to the nation’s leading health organizations, this innovative center builds on the rich heritage and distinctive capability of healthcare in Northeast Ohio. A short escalator ride away, the Cleveland Convention Center offers easy access to 225,000 square feet of exhibit space and more than 150,000 square feet of meeting and pre-function space. With a range of meeting room sizes, the Cleveland Convention Center can accommodate small corporate meetings and large conventions alike. clevelandconventions.com

Managed by

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CRAIN’S CLEVELAND BUSINESS

WWW.CRAINSCLEVELAND.COM

MedExam Inc. 24461 Detroit Road, Suite 350 Westlake 44145, (440) 871-1600 Top Executive: Bryan E. Schmidt

Lake Health Mentor Campus 9485 Mentor Ave., Mentor 44060 (440) 974-6800, www.lakehealth.org Top Executive: Janie Racer

MEDSource One 5350 Transportation Blvd. Garfield Heights 44125 (216) 328-2240 www.medsource-one.com Top Executive: Scott E. Singer, M.D.

Lake Health Urgent Care Centers 7590 Auburn Road Concord Township 44077 (440) 375-8100 www.lakehealth.org Top Executive: Joseph Popely

Menorah Park Occupational Therapy 27100 Cedar Road Beachwood 44122, (216) 450-5566 www.menorahpark.org Top Executive: Steven Raichilson

Laser Spine Institute 300 Allen Bradley Drive Mayfield Heights 44124 (866) 325-2976 www.laserspineinstitute.com Top Executive: Erica Sheldon

OccuCenters East Side 4450 St. Clair Ave., Cleveland 44103 (216) 431-0927 www.occucenters.com Top Executive: Dennis Frinzl Project T.E.A.C.H. Inc. 1134 Hillrock Drive, Cleveland 44121 (216) 382-5875 www.projectteach.com Top Executive: Frances M. Burrows UCP of Greater Cleveland 10011 Euclid Ave., Cleveland 44106 (216) 791-8363 www.ucpcleveland.org Top Executive: Patricia S. Otter

OUTPATIENT SERVICES Advantage Diagnostics 3733 Park East Drive, Suite 100 Beachwood 44122, (216) 292-9998 www.advantagemri.us.com Top Executive: Nancy Westrich, James Zelch, M.D., Christina Van Deusen Akron General Medical Center Outpatient Services 1 Akron General Ave. Akron 44307, (330) 344-6000 www.akrongeneral.org Top Executive: Steve Abdenour Care Alliance Health Center 1530 St. Clair Ave., Cleveland 44114 (216) 781-6724 www.carealliance.org Top Executive: Francis Afram-Gyening, Kate Fox Nagel, M.D. The Free Medical Clinic of Greater Cleveland 12201 Euclid Ave., Cleveland 44106 (216) 721-4010 www.thefreeclinic.org Top Executive: Danny R. Williams The Gathering Place 23300 Commerce Park Beachwood 44122 (216) 595-9546 www.touchedbycancer.org Top Executive: Eileen Saffran Hattie Larlham 7996 Darrow Road, Suite 10 Twinsburg 44087, (800) 233-8611 www.hattielarlham.org Top Executive: Dennis Allen Highland Speech Services Inc. 415 Lowell Drive Highland Heights 44143 (440) 539-1152 Top Executive: Cindy Ginsburg

Montefiore Outpatient Rehabilitation Therapy One David Myers Parkway Beachwood 44122 (216) 360-9080 www.montefiorecare.org Top Executive: Seth Vilensky Peter B. Lewis Aquatic & Therapy Center 27300 Cedar Road Beachwood 44122, (216) 595-7345 www.lewisaquaticcenter.org Top Executive: Steven Raichilson PsychBC 25101 Chagrin Blvd., Suite 100 Beachwood 44122 (216) 831-6611, www.psychbc.com Top Executive: Donald K. Sykes Southwest General Outpatient Centers 18697 Bagley Road Middleburg Heights 44130 (440) 816-5050, www.swgeneral.com Top Executive: Thomas A. Selden

St. John Medical Center Westlake Family Medicine Center 26908 Detroit Road Westlake 44145, (440) 871-6060 www.stjohnmedicalcenter.net Top Executive: William A. Young University Hospitals Lyndhurst Surgery Center 29017 Cedar Road, Lyndhurst 44124 (866) 844-2273 www.uhhospitals.org Top Executive: Richard A. Hanson

PHYSICAL THERAPY Achievement Centers for Children 4255 Northfield Road Highland Hills 44128 (216) 292-9700 www.achievementcenters.org Top Executive: Sally Farwell Advanced Rehabilitation & Health Specialists 4707 Mill St., Mantua 44255 (330) 274-2747, www.arhs.us Top Executive: Edie Benner, Juli Robine AGM Physical Therapy 6000 Heisley Road, Mentor 44060 (440) 357-6677 www.agmphysicaltherapy.com Top Executive: Greg Morris Akron General Sports & Physical Therapy 4125 Medina Road, Akron 44333 (330) 665-8200 www.akrongeneral.org Top Executive: Todd Dawson Fieldstone Farm Therapeutic Riding Center 16497 Snyder Road Chagrin Falls 44023, (440) 708-0013 www.fieldstonefarmtrc.com Top Executive: Lynnette Stuart HealthPro Rehabilitation 16600 Sprague Road, Suite 365 Middleburg Heights 44130 (216) 227-7700 www.healthpro-rehab.com Top Executive: Jim Rogerson Keystone Physical Therapy 700 Beta Drive, Suite 500 Mayfield Village 44143 (440) 460-2488, www.physiocorp.com Top Executive: Chris Faulds, David Schordock Lake Health Physical Therapy 7590 Auburn Road, Concord 44077 (440) 375-8100, www.lakehealth.org Top Executive: Lisa Rubin Falkenberg Layton Physical Therapy 50 Normandy Drive, Painesville 44077 (440) 639-8800, www.laytonpt.com Top Executive: Loretta A. Layton

SEPTEMBER 7 - 13, 2015

(440) 816-8010 www.swgeneral.com Top Executive: Thomas A. Selden Suburban Physical Therapy 8803 Brecksville Road Brecksville 44141, (440) 746-1730 www.suburbanpt.com Top Executive: Brad Dasher, Ed Baldwin, Mike Janesch Total Joint Rehab 34143 Center Ridge Road North Ridgeville 44039 (440) 327-0299 www.totaljointrehab.com Top Executive: Jason Kucharski University Hospitals Rehabilitation Hospital 23333 Harvard Road Beachwood 44122, (216) 593-2200 www.uhhospitals.org/services/rehabilitation-services/uh-rehabilitation-hospital Top Executive: Mirza Baig, M.D. University Hospitals Rehabilitation Services 11100 Euclid Ave., Cleveland 44106 (216) 844-2273 www.uhhospitals.org Top Executive: Paul M. Smith

PHYSICIANS PHYSICIAN GROUPS Advanced Radiology Corp. 3250 W. Market St., Suite 107 Akron 44333, (800) 548-7226 Top Executive: Jeff Wilson Akron General Partners Physician Group 3600 W. Market St., Akron 44311 (330) 344-2462 www.akrongeneral.org Top Executive: Benito Alvarez, M.D.

Comprehensive Podiatry LLC 6701 Rockside Road, Suite 340 Independence 44131 (216) 520-0033 www.comprehensivepodiatry.com Top Executive: Jennifer L. Goodman

PT Center for Sports Medicine and Family Physical Therapy 2660 W. Market St., Suite 300 Akron 44333, (330) 869-2635 ptcenterakron.com Top Executive: Kevin L. Outwater

CustomCare, M.D., LLC 1611 S. Green Road, Suite 213 South Euclid 44121, (216) 382-8000 www.customcaremd.com Top Executive: Richard Tomm, M.D.

Rehab Professionals of Cleveland Inc. 7000 Town Centre Drive, Suite 400 Broadview Heights 44147 (440) 526-8566, www.rehabpros.net Top Executive: Dr. Edward Aube

David R. Mandel, M.D., Inc. 6551 Wilson Mills Road, Suite 106 Mayfield Village 44143 (440) 449-8277 www.dmandelmd.com Top Executive: David M. Rothhaas

Southwest General Physical Medicine & Rehabilitation Services 7390 Old Oak Blvd. Middleburg Heights 44130

Fairview Eye Center 21375 Lorain Road Fairview Park 44126 (440) 333-3060

Lake Health Diagnostics 7590 Auburn Road Concord Township 44077 (440) 375-8100 www.lakehealth.org Top Executive: Janie Racer

Jeffrey H. Stockfish, M.D., Inc. 6690 Beta Drive, Suite 312 Mayfield Village 44143-2359 (440) 460-2822 Top Executive: Harlan Epstein Lake Health Physician Group 7590 Auburn Road, Concord 44077 (440) 354-1995, www.lakehealth.org Top Executive: Rick Cicero

Ohio Clinic for Aesthetic and Plastic Surgery 2237 Crocker Road, Suite 140 Westlake 44145 (440) 808-9315 www.ohioclinic.com Top Executive: Michael H. Wojtanowski, M.D.

NovaCare Rehabilitation 24400 Highpoint Road, Suite 10 Beachwood 44122 (216) 896-0824, www.novacare.com Top Executive: Deborah Wieder Singer

Southwest Community Pharmacy 18697 Bagley Road Middleburg Heights 44130 (440) 816-8410 www.swgeneral.com Top Executive: Thomas A. Selden

Healthcare for Business 50 Normandy Drive, Suite 5 Painesville 44077, (440) 354-4747 http://healthcareforbusiness.com Top Executive: Paul Hanahan

Associates In Dermatology 26908 Detroit Road, Suite 103 Westlake 44145, (216) 228-3900 www.healthyskinmd.com Top Executive: Paul G. Hazen, M.D. The Cleveland Shoulder Institute 3999 Richmond Road, Suite 200 Beachwood 44122, (844) 746-8537 www.clevelandshoulder.com Top Executive: Dr. Reuben Gobezie

Lake County Free Clinic 54 S. State St., Suite 302 Painesville 44077, (440) 352-8686 www.lakefreeclinic.org Top Executive: Johanna Henz

Harmych Facial Plastic Surgery 29225 Chagrin Blvd., Suite 285 Beachwood 44122, (216) 831-3223 http://harmychplasticsurgery.com Top Executive: Dr. Brian M. Harmych

Mercy Health Physicians 3700 Kolbe Road, Lorain 44053 (440) 930-3627 www.mercyonline.org/doctors Top Executive: Charles Butrey, M.D.

Montefiore Post-Hospital Rehab Center-Rehab Road One David Myers Parkway Beachwood 44122, (216) 360-9080 www.montefiorecare.org Top Executive: Seth Vilensky

Advanced Infusion Services 160 Opportunity Parkway, Suite 102, Akron 44307 (888) 646-3873, www.vnsa.com Top Executive: Karen L. Mullen

Green Road Pediatrics Inc. 1611 S. Green Road South Euclid 44121, (216) 382-3800 www.greenroadpediatrics.net Top Executive: Joseph Borus, M.D.

Arcade Chiropractic Clinic 401 Euclid Ave., Suite 140 Cleveland 44114, (216) 522-0300 www.arcadechiro.com Top Executive: Dr. Gregory Kempf

University Suburban Health Center 1611 S. Green Road South Euclid 44121 (216) 382-9492 www.universitysuburban.com Top Executive: Douglas S. Eckert

PHARMACY SERVICES

GO Ortho 3999 Richmond Road, Suite 200 Beachwood 44122, (844) 463-7669 www.godoctornow.com Top Executive: Dr. Trevor Bullock, Dr. Reuben Gobezie

Levinson Family Chiropractic Inc. 646 Portage Trail Cuyahoga Falls 44221 (330) 928-3420 www.levinsonchiro.com Top Executive: Dr. Pam Levinson, Dr. John Connery

Menorah Park’s Marcus Post-Hospital Rehabilitation Center 27100 Cedar Road Beachwood 44122 (216) 839-6633 www.menorahpark.org Top Executive: Steven Raichilson

Gebauer Co. 4444 E. 153rd St., Cleveland 44128 (800) 321-9348 www.gebauer.com Top Executive: Margaret Rose Giltinan

Fairview Park Chiropractic Center Inc. 21881 Lorain Road Fairview Park 44126, (440) 331-9033 www.fairviewparkchiropractic.com Top Executive: Dr. Todd W. Smith

Apex Dermatology and Skin Surgery Center 5800 Landerbrook Drive, Suite 250 Mayfield Heights 44124 (440) 646-1600, www.apexskin.com Top Executive: Jorge Garcia-Zuazaga, M.D.

University Hospitals Outpatient Health Centers 11100 Euclid Ave., Cleveland 44106 (216) 844-2273 www.uhhospitals.org Top Executive: Richard A. Hanson

PHARMACEUTICALS

www.fairvieweyecenter.com Top Executive: Todd A. Hershner, O.D., Steven R. Meadows, M.D., Theodore E. Loizos, M.D., Carla M. Krebs, M.D.

Ohio Specialty Network LLC 1163 E. 40th St., Suite 302 Cleveland 44114, (216) 426-2555 ohiospecialtynetwork.com Top Executive: Linda D. Derringer Options Naturopathic Clinic 2460 Fairmount Blvd., Suite 219 Cleveland Heights 44106 (216) 707-9137 www.optionsnaturopathic.com Top Executive: Dr. Erin Holston Singh, Laura Cahill Sleggs Pinnacle Ultrasound Corp. 3250 W. Market St., Suite 107 Akron 44333 (800) 548-7226 Top Executive: Jeff Wilson Regen Orthopedics 3999 Richmond Road, Suite 200 Beachwood 44122 (844) 786-2355 www.regenorthopedics.com Top Executive: Dr. Trevor Bullock, Dr. Reuben Gobezie

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Retina Associates of Cleveland 3401 Enterprise Parkway, Suite 300 Beachwood 44122, (216) 831-5700 www.retina-doctors.com Top Executive: David G. Miller, M.D. Revati Wellness 29001 Cedar Road, Suite 655 Lyndhurst 44124, (440) 249-4455 www.revatiwellness.com Top Executive: Dr. Thomas J. Morledge Senders Pediatrics 2054 S. Green Road South Euclid 44121, (216) 291-9210 www.senderspediatrics.com Top Executive: Shelly David Senders, M.D. Southwest General Medical Group Inc. 18697 Bagley Road, Suite B-312 Middleburg Heights 44130 (440) 816-4902 www.swmedgroup.com Top Executive: Bradley Rauh

SENIOR AND LONG-TERM CARE SERVICES Aberdeen Crossings 399 Bishop Road Highland Heights 44143 (440) 460-0686 www.lifeservicesassistedliving.com Top Executive: Diane Strunak Altenheim Senior Living 18627 Shurmer Road Strongsville 44136, (440) 238-3361 www.altenheim.com Top Executive: Paul Psota Alzheimer’s Family Care Management & Mediation for Dementia Conflict 211 E. Summit St., Kent 44240 (330) 577-3158 www.alzheimerfamilycare management.com Top Executive: Karen L. Rice Anna Maria of Aurora 889 N. Aurora Road, Aurora 44202 (330) 562-7777 www.annamariaofaurora.com Top Executive: Aaron Baker, Chris Norton, Diane Barben Arden Courts Memory Care Community 28400 Center Ridge Road Westlake 44145, (440) 808-9275 www.hcr-manorcare.com Top Executive: Regina Rock Beachwood Commons 3995 Green Road, Beachwood 44122 (216) 295-1700 www.lifeservicesassistedliving.com Top Executive: Schonda Grays Benjamin Rose Institute on Aging 11890 Fairhill Road, Cleveland 44120 (216) 791-8000 www.benrose.org Top Executive: Richard Browdie Berea Lake Towers Retirement Community 4 Berea Commons, Berea 44017 (440) 243-9050 www.berealaketowers.com Top Executive: Michael Coury Best Solutions Medical Supplies & Equipment 30133 Euclid Ave., Suite A Wickliffe 44092 (216) 254-4429 www.bestsolutionsmedicalsupplies.com Top Executive: Greg Smolik Breckenridge Village 36855 Ridge Road Willoughby 44094 (440) 942-4342

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www.oprs.org Top Executive: David Schell

www.kendalathome.org Top Executive: Lynne Giacobbe

Brentwood Health Care Center 907 W. Aurora Road Sagamore Hills 44067 (330) 468-2273 www.brentwoodhealthcarecenter.com Top Executive: Brent Classen

Kendal at Oberlin 600 Kendal Drive Oberlin 44074, (440) 775-0094 www.kao.kendal.org Top Executive: Barbara W. Thomas

Brookdale Mentor 5700 Emerald Court, Mentor 44060 (440) 354-5499, www.brookdale.com Top Executive: Melinda Knapp Brookdale Westlake Village Retirement Community 28550 Westlake Village Drive Westlake 44145, (440) 892-4200 www.brookdaleliving.com Top Executive: Patrick Payne Coleman Adult Day Services 6695 N. Chestnut St. Ravenna 44266, (877) 345-1180 www.colemanservices.org Top Executive: Sandy Myers, Robert Steinheiser ComForcare Homecare Services 13315 Prospect Road Strongsville 44149, (440) 638-7001 www.comforcare.com Top Executive: Deb Vermillion Crystal Waters Retirement Community 18960 Falling Water Road Strongsville 44136, (440) 238-3600 www.crystalwatersrc.com Top Executive: Phillip Coury Eliza Bryant Village 7201 Wade Park Ave. Cleveland 44103, (216) 361-6141 www.elizabryant.org Top Executive: Harvey M. Shankman Embassy Healthcare 24579 Broadway Ave. Oakwood Village 44146 (440) 439-7976 www.embassyhealthcare.net Top Executive: Aaron Handler, Darla Handler Emerald Village Retirement Community 30344 Lorain Road North Olmsted 44070, (440) 777-9300 http://emeraldvillage.org Top Executive: MJ Giovanetti Genesis Park East-Beachwood 3800 Park East Drive Beachwood 44122, (216) 831-4303 www.genesishcc.com Top Executive: Angela Rose Genesis West Bay-Westlake 27601 Westchester Parkway Westlake 44145, (440) 871-5900 www.genesishcc.com Top Executive: Julie McCostlin Genesis The Heights 2801 E. Royalton Road Broadview Heights 44147 (440) 526-4770 www.genesishcc.com Top Executive: Caron Potokar Jennings Center for Older Adults 10204 Granger Road Garfield Heights 44125 (216) 581-2900, www.jenningscenter.org Top Executive: Allison Q. Salopeck Judson at University Circle 2181 Ambleside Drive Cleveland 44106, (216) 721-1234 www.judsonsmartliving.org Top Executive: Cynthia H. Dunn Kendal at Home 26040 Detroit Road, Suite 1 Westlake 44145, (440) 835-8681

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Kidney Foundation of Ohio Inc. 2831 Prospect Ave., Cleveland 44115 (216) 771-2700, www.kfohio.org Top Executive: Michael F. Needham Kindred Assisted Living - Fountains 1555 Brainard Road, Lyndhurst 44124 (440) 460-1000 www.fountainsonthegreens.com Top Executive: Carol Rose Kindred Assisted Living–Stratford Commons 7000 Cochran Road, Glenwillow 44139 (440) 914-0900 www.stratfordassistedliving.com Top Executive: Angela Young Kindred Transitional Care & Rehabilitation LakeMed 70 Normandy Drive, Painesville 44077 (440) 357-1311 www.kindredlakemed.com Top Executive: Vesta Jones Kindred Transitional Care & Rehabilitation-The Greens 1575 Brainard Road, Lyndhurst 44124 (440) 460-1000 www.kindredgreens.com Top Executive: Alicia Hensley Kindred Transitional Care & Rehabilitation-Stratford 7000 Cochran Road, Glenwillow 44139 (440) 914-0900 www.stratfordcommons.com Top Executive: Amanda Eberhart Koinonia Homes Inc. 6161 Oak Tree Blvd., Suite 400 Independence 44131, (216) 588-8777 www.koinoniahomes.org Top Executive: Diane Beastrom Lamplight Inn of Maple Heights 5500 Northfield Road Maple Heights 44137, (216) 510-4336 www.lamplightcommunities.com Top Executive: Severine Petras

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Laurel Lake Retirement Community 200 Laurel Lake Drive Hudson 44236, (866) 650-2100 www.laurellake.org Top Executive: David A. Oster Light of Hearts Villa Inc. 283 Union St., Bedford 44146 (440) 232-1991 www.lightofheartsvilla.org Top Executive: Elizabeth Hickle Long Term Care Ombudsman 2800 Euclid Ave., Suite 200 Cleveland 44115, (216) 696-2719 www.ltco.org Lutheran Home at Concord Reserve 2116 Dover Center Road Westlake 44145, (440) 871-0090 www.concordreserve.org Top Executive: Charles H. Rinne Magnifiers & More 7775 Mentor Ave., Mentor 44060 (440) 946-3363 www.magnifiersandmore.net Top Executive: Deborah M. Kogler Maximum Accessible Housing of Ohio 1725 E. 115 St., Cleveland 44106 (216) 231-7221, www.mahohio.org Top Executive: Stephen P. Hansler McGregor 14900 Private Drive, Cleveland 44112

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(216) 851-8200 www.mcgregoramasa.org Top Executive: R. Robertson Hilton Menorah Park Center for Senior Living 27100 Cedar Road Beachwood 44122 (216) 831-6500 www.menorahpark.org Top Executive: Steven Raichilson Montefiore One David Myers Parkway Beachwood 44122, (216) 360-9080 www.montefiorecare.org Top Executive: Seth Vilensky New Avenues to Independence Inc. 17608 Euclid Ave., Cleveland 44112 (216) 481-1907, www.newavenues.net Top Executive: Thomas M. Lewins O’Neill Healthcare 38642 Center Ridge Road North Ridgeville 44039 (440) 327-9777, www.oneillhc.com Top Executive: John T. O’Neill

Platinum Home Helper Services 5813 Mayfield Road, 2nd floor Mayfield Heights 44124 (440) 995-0202 www.homehealthohio.org Top Executive: Marc A. Vasil Royalton Woods Retirement Living 14277 State Road North Royalton 44133 (440) 582-4111 www.royaltonwoods.org Top Executive: Linda Arduini S.A.R.A.H. Adult Day Services Cleveland 11303 Pearl Road Strongsville 44136 (440) 846-1751 www.sarahcare.com/strongsville Top Executive: R. M. Phillips, Lisa Zoloty, Pamela Schneider Salida Woods Assisted Living 7685 Lakeshore Blvd. Mentor 44060, (440) 257-3866 www.lifeservicesassistedliving.com Top Executive: Karrie Sprowls

O’Neill Healthcare Fairview Park 4800 Clague Road North Olmsted 44070 (440) 734-9933, www.oneillhc.com Top Executive: Kimberly Eiting, Patricia Disch

SALT, Specialized Assisted Living Team P.O. Box 16706, Rocky River 44116 (216) 409-1534 Top Executive: Lee Ann O’Brien

Our House 27633 Bassett Road, Westlake 44145 (440) 835-2110 www.ourhouseinc.com Top Executive: Marguerite L. Van Derwyst

South Franklin Circle 16575 S. Franklin St. Chagrin Falls 44023 (440) 247-1300 www.southfranklincircle.org Top Executive: Cynthia Dunn

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SouthWest Commons 18090 Pearl Road, Strongsville 44136 (440) 238-3777 www.lifeservicesassistedliving.com Top Executive: Diann Jurcago St. Augustine Health Campus 7801 Detroit Ave., Cleveland 44102 (216) 634-7400 www.staugministries.org Top Executive: Anita Gerrasch Vantage Place Inc. 3105 Franklin Blvd. Cleveland 44113 (216) 566-8707 http://vantageplace.com Top Executive: Robert L. Royer Jr. The Village at Marymount 5200 Marymount Village Drive Garfield Heights 44125 (216) 332-1100 www.villageatmarymount.org Top Executive: Jeffry A. Myers The Village of St. Edward 3131 Smith Road, Fairlawn 44333 (330) 666-1183, www.vased.org Top Executive: John P. Stoner The Weils 16695 Chillicothe Road Chagrin Falls 44023 (440) 543-4221, www.theweils.org Top Executive: Seth Vilensky Wesleyan Meadows 5400 Meadow Lane Court Sheffield Village 44035 (440) 934-9400, www.villageliving.com Top Executive: Debra Cihla

SEPTEMBER 7 - 13, 2015

Wesleyan Village 807 West Ave., Elyria 44035 (440) 284-9371 www.villageliving.com Top Executive: Debra Cihla

WOMEN’S HEALTH SERVICES Akron General Women’s Center 1 Akron General Ave., Akron 44307 (330) 344-6868 www.akrongeneral.org Top Executive: Justin Lavin, M.D. Ann Driscoll, Licensed Acupuncturist 25109 Detroit Road, Suite 335 Westlake 44145 (216) 221-2632 www.driscollacupuncture.com Top Executive: Ann Driscoll Comprehensive Women’s Health Care at Southwest General 18697 Bagley Road Middleburg Heights 44130 (440) 816-5050, www.swgeneral.com Top Executive: Thomas A. Selden The Doula Experience Perinatal Services 19006 Stony Point Drive Strongsville 44136 (440) 572-2574 www.doulaexperience.com Top Executive: Sunday Tortelli Elegant Essentials 5164 Normandy Park Drive, Suite 300

Medina 44256, (800) 350-5053 www.elegantessentialsonline.com Top Executive: Shellie L. Graf Family Planning Services of Lorain County 602 Leona St., Elyria 44035 (440) 322-7526 www.familyplanningservices.org Top Executive: Patricia L. Berger ICAN of Greater Cleveland 10000 Waterford Trail Chagrin Falls 44023 (440) 543-5353 www.icanofgreatercleveland.org Top Executive: Pam Kolanz Preterm 12000 Shaker Blvd. Cleveland 44120 (216) 991-4000 www.preterm.org Top Executive: Chrisse France University Hospitals MacDonald Women’s Hospital 11100 Euclid Ave. Cleveland 44106 (216) 844-2273 www.uhhospitals.org/ womenshealth Top Executive: Patricia DePompei Womankind Maternal and Prenatal Care Center 5400 Transportation Blvd., Suite 10 Garfield Heights 44125 (216) 662-5700 www.womankindcleveland.com Top Executive: Eileen M. Murray

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the “software as a service” category can borrow money before they become profitable. For instance, ViewRay of Oakwood Village did a $50 million debt deal in June — and it makes MRI machines that are used to deliver radiation therapy to cancer patients. But it’s fairly common for fastgrowing “SaaS” companies to raise debt capital, according to Mark Woodka, CEO of OnShift of Cleveland. His company — which makes staff scheduling software for nursing homes and other senior care facilities — received a $6 million line of credit from Square 1 Bank in Durham, N.C., a few months ago. But lenders want to see reliable, predictable revenue figures. For instance, SaaS Capital looks to fund fast-growing companies that retain at least 90% of their customers each year, according to managing director Todd Gardner. His business model wouldn’t have worked 20 years ago, when software companies sold their products on CDs for a single payment — and then tried to convince you to upgrade those products a few years later. “We would have never lent to a traditional software company with large, upfront payments, because you never know where your next check is coming from,” he said. The strategy seems to be working. SaaS Capital’s first fund has loaned money to 14 companies. Ten already have paid back the money. And SaaS Capital has exercised its option to buy stock in four of those companies. Thus, the Cincinnati-based lender was able to raise $58 million for its second fund, which closed in March. By comparison, it raised $22 million for the first fund, which closed in 2012. Still, lenders like SaaS Capital are rare. Gardner said he doesn’t

know of any similar lenders in Ohio. Some of the best-known venture debt funds, such as Western Technology Investment and Hercules Technology Growth Capital, are based in California’s Silicon Valley region. So is Silicon Valley Bank, which like Square 1 is a fully regulated bank. Some venture debt lenders do fund companies outside the software industry. For instance, ViewRay raised debt from CRG, a Houston-based lender that focuses on health care companies. ViewRay has drawn down $30 million and has the option to take another $20 million. ViewRay, however, is far from generating a profit. The company lost $33.8 million in 2014 — and it only generated $6.4 million in sales. So why would someone want to lend it money? The company may not generate much revenue today, but its backlog of orders exceeds $70 million, according to chief financial officer David Chandler. He noted that ViewRay received “a number of offers” from other lenders. Plus, CRG specializes in health care and conducted “tremendous due diligence” on the company and its MRI-guided radiation therapy machines, Chandler said. It’s not free money, but the terms are “reasonable,” he said. ViewRay is required to make interest-only payments “for several years” before it is required to start paying back the principal. “You really kind of grow into the investment,” he said. Venture debt deals generally come with higher interest rates to reward the lender for doing riskier deals. And like SaaS Capital, many lenders receive warrants to buy stock in the companies they finance as well as other fees. Despite those costs, Gardner argues that raising debt is often better than selling stock — if the value of your company is growing quickly.

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“If you’re really confident in your business’s trajectory … why would you sell a big chunk of it, especially when you’ve got it past that early startup stage?” he said. But there is a downside to raising debt. Consider the case of AxioMed, a Garfield Heights-based company that makes spinal implants.

A cautionary tale AxioMed borrowed money from Western Technology Investment in 2010. Four years later, when it couldn’t make its loan payments, WTI put the company up for sale. AxioMed now is owned by an investment firm called KICVentures. AxioMed’s plan was to pay back the money by raising more venture capital or by getting acquired, according to co-founder Jim Kuras. After it borrowed the money, however, investors started shying away from medical device companies — especially companies facing big regulatory hurdles, like AxioMed. The market for medical acquisitions was slow, too, he added. The company didn’t generate much in the way of sales because it was focused on getting regulators in multiple countries to approve its products. The company wanted to get all those balls rolling, given how long the approval process takes, Kuras said. Looking back, he said AxioMed should have made the investments needed to generate sales. The European Union had given the company the go-ahead to start selling its first product back in 2009. Startups thinking about raising debt should only do so if they’re confident that it will allow them to reach a major inflection point — be it significant sales or an acquisition, he said. If you’re just doing it to increase the size of a venture capital round, “it becomes very expensive and very risky,” he added.

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challenging. The launch of the campaign comes less than two months after the university announced a sweeping, $40 million budget cut, which included the elimination of more than 200 non-faculty positions and the university’s baseball program. The cuts were needed, officials say, to stave off a $60 million “financial problem” brought on by years of enrollment declines and a costly campus overhaul carried out by its previous president, Luis Proenza. Between 2011 and 2015, total enrollment plunged roughly 15%. It appears the university is headed in the right direction considering this fall’s freshman class, according to preliminary numbers, is about 5% larger than last year’s. Overall enrollment, however, slipped about 3%, which university officials attribute, in part, to larger-than-usual graduating classes during the most recent academic year. Because enrollment growth is such a critical component of digging the university out of its hole, Scarborough said the new branding campaign was critical, although he expects some of the university’s detractors will take issue with the cost. “We have leveraged ourselves by building this beautiful new campus to the point where we cannot choose to get smaller and expect to be able to do well,” Scarborough said. In an ideal world, Scarborough said the university would have had this material in tow back in May when he announced the rebranding as “Ohio’s polytechnic university,” but because of the university’s financial picture, that

wasn’t possible. Plus, the campaign’s launch coincides with the start of recruitment season, as high school juniors start eyeing prospective colleges and high school seniors narrow their choices. “If we don’t recruit the numbers of students we need, it puts everything at risk. Not just what we had to cut in order to do this, but this is revenue generation to reverse an enrollment decline that is almost certain if we don’t do something new,” Scarborough said. “Some people say these strategies are risky, but they aren’t nearly as risky as continuing the status quo.” The campaign, which was developed for the most part by Cleveland-based ad agency Flourish, is initially being rolled out regionally to strengthen the university’s brand position in Northeast Ohio. Beyond that, the plan is to roll it out in additional Midwest markets in hopes of deepening the university’s out-ofstate applicant pool. Moreover, Scarborough said the hope is to use the campaign to reposition the university as a destination for students with choices rather than just a place where locals go because it’s “affordable and convenient.” Lawrence Burns, the university’s new vice president of advancement, said he wanted to capture the “soul” of the university in the new campaign. During discussions with Flourish, he told the agency’s representatives he wanted to achieve the same sort of aesthetic Chrysler did with its 2011 Super Bowl that tied the automaker’s brand to a resurging Detroit and helped launch an immensely successful

TAX BREAKS continued from page 3

$1.4 billion. Cleveland did not make a spokesperson available before the deadline for this story. The financial statements, though, will not include the long-term costs of the tax breaks — the tax exemption can run for as long as long as 15 years— or the names of specific recipients. Those requirements had been considered early in the rulemaking process.

Policy Matters Ohio’s Schiller questioned the lack of long-term cost projections — a key element in the pension fund crisis. “It’s hard to figure why (GASB) didn’t approve any kind of forwardlooking cost of this,” Schiller said. “From (a municipal bond) investor’s standpoint, isn’t your biggest concern not what they paid last year, but what they have to pay in the future?” Some government officials

advertising campaign. Asked to describe the campaign’s tone, Kent Manson, Flourish’s vice president and director of brand strategy, said, “We feel like it’s a very authentic tone and description of who the people are that make up the University of Akron. We wanted to focus less on the name and more on what it represents. That was a story that hadn’t been fully told.” There are no plans for a Super Bowl push with the new campaign. Super Bowl ads became a tradition during Proenza’s tenure. Last year, the university debuted a series of Super Bowl ads — the first in years without Proenza narrating — at a cost of about $95,000 for the media buys and ad production. Proenza’s final Super Bowl ads cost about $283,000.

Then there’s LeBron … James, without question, carries one of the most powerful brands in the world. The University of Akron’s, on the other hand, resonates little beyond its primary catchment area of Northeast Ohio. An assist from the superstar who famously described himself as “just a kid from Akron” could be worth millions. For example, he’s slated to earn $44 million this year from endorsement deals, according to Forbes’ latest estimate. However, the University of Akron will be able to leverage that branding power for relatively nothing. “It’s invaluable to be associated with a brand like LeBron James,” said Ken Ungar, president of U/S Sports Advisors, an Indianapolis-based sports and entertainment marketing agency.

fought the new regulation. A letter circulated by the Ohio Municipal League that was sent to GASB by five major government associations, including the National League of Cities and the National Association of Counties, argued that the information would be difficult to compile and would provide a misleading impression by reporting only the amount of taxes foregone in a single year and not the future impact on taxes collected in future years because of new jobs created.

“It’s a huge bonus for any partner, and that’s going to be a great value for the University of Akron. He has an immense amount of leverage, which all starts with the caliber of his play on the court.” The NBA giant’s ties to the university’s marketing efforts are part of the deal announced last month with the LeBron James Family Foundation. As part of that arrangement, the university agreed to cover tuition for Akronarea students involved with James’ lauded mentorship program. Plus, the university immediately renamed its education program the LeBron James Family Foundation College of Education. The university is particularly intrigued at what sort of traction it will be able to generate online by teaming with James. The University of Akron and Scarborough already got plenty of love from James on Twitter — where he has 23.5 million followers — when the relationship was announced. Opendorse, a company that estimates the monetary value of digital and social media campaigns, recently pegged the value of a tweet from James as being worth about $140,000. “LeBron’s brand stands for opportunity and hope,” Ungar said. “That’s why what his foundation has done with the University of Akron is perfect — both for the university and his brand. He overcame every barrier in front of him and became spectacularly successful. Now his foundation is doing the same thing for young people in Akron. It’s absolutely brilliant, and there are going to be positive stories for decades related to this.”

Several local public finance officers, though, are comfortable with the new reporting requirements. Brent Leslie, chief financial officer of the Cleveland-Cuyahoga County Port Authority, said he didn’t believe meeting the rule’s requirements will add much time or cost to the Port Authority’s financial reporting expense. The Port Authority is not in a position to grant exemptions. But if the county were to grant a tax abatement, the Port Authority’s tax

levy, which provides $3 million of its $7.5 million of its revenue, would take a modest hit. Matthew Rubino, finance director of Shaker Heights, which lost $5.5 million in revenue to tax abatement in 2014, is prepared for the new disclosures. “We saw this with pension reporting,” he said. “There is a desire in the financial markets for more transparency or reporting (from government) like they see in (public company reports).”

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SEPTEMBER 7 - 13, 2015

THE WEEK SEPTEMBER 7 - 13 The big story: Cleveland Indians president Mark Shapiro confirmed he will leave the organization at the end of September to join the Toronto Blue Jays, where he will replace the retiring Paul Beeston as president and CEO. Shapiro’s duties with Shapiro the Indians will be divided among the leadership team that’s already in place, said team owner Paul Dolan. Shapiro said the decision to leave the Indians, where he has worked for 23 years, came down to “how compelling and unique the opportunity in Toronto is.”

Time to eat: Yours Truly, the regional chain offering family-friendly dining for breakfast, lunch and dinner, plans to open a location in downtown Cleveland at the Halle Building, 1228 Euclid Ave. Scheduled to open in spring 2016, the restaurant plans to have 130 seats on the east end of the Euclid Avenue side of the former department store building. It will be the 34-year-old chain’s first downtown venture and its ninth location. Plans call for a diner-style design that incorporates elements of the original fine jewelry department, said Larry Shibley, chairman of Yours Truly’s board. Yours Truly also wants to repurpose the space furnishings from the department store that building owner K&D Group has found stored in the property. See what develops: The city of Independence and Cleveland-based Fairmount Properties executed a memorandum of understanding covering the development of 33 acres the city owns on two sites: on the north side of Rockside Road at Oak Tree Boulevard, and at a former middle school on Brecksville Road. Initial planning calls for the land on Rockside at Oak Tree to be developed as a mixed-use district with a variety of retail, restaurant and residential uses organized in a walkable area. The vision for the middle school site is to concentrate on adding for-sale housing options that do not currently exist in Independence for young professionals and empty nesters.

In control: University Hospitals plans to take sole ownership of St. John Medical Center, a 204bed, full-service Catholic hospital in Westlake that it has co-owned with the Sisters of Charity Health System since 1999. Financial terms of the deal were not disclosed, but the agreement is expected to be finalized within 60 days. At present, UH and the Sisters are 50-50 partners in the hospital. Proceeds from the sale will be reinvested into the Sisters’ other ministries. As part of the transfer, UH and the Sisters said the “legacy of Catholic health care” would continue under UH’s ownership. Back at it: Summa Health System revived a legal battle with Western Reserve Hospital Partners. The Akron-based hospital system in a lawsuit is demanding more transparency in how the for-profit Western Reserve Hospital that it coowns with the physician investor group is operated. In addition, though unrelated to the lawsuit, Summa may have to evict the hospital from its current property because both parties can’t agree on a selling price for the facility. Capital gains: The amount of startup capital available for aspiring small business owners in Cuyahoga County is growing. The county and the Cleveland Foundation are putting nearly $2.2 million into a county loan program run by the Economic & Community Development Institute, a Columbus microlending nonprofit with a growing presence in Cleveland. The Microenterprise Loan Program will provide loans ranging from $10,000 to $100,000 to creative startup ventures that find it difficult to obtain traditional financing.

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REPORTERS’ NOTEBOOK BEHIND THE NEWS WITH CRAIN’S WRITERS

Kent Displays writes a new chapter in its development

School has started at Lincoln Electric, too

them,” Scales said. — Rachel Abbey McCafferty

Kent Displays Inc. is learning more about how teachers and students can use its ewriters in the classroom, with funding from the National Science Foundation. On Sept. 3, Kent Displays learned that it was receiving funding for the second phase of its research into electronic tablets and education, said Todd Packer, the company’s intellectual property manager. Information from the foundation puts the total at $722,044 for the year. Packer said the company will be working with Kent State University on this phase of the project. In the first phase, which was for initial research, Kent Displays received a lesser amount of funding. It also focused on a narrower pool of ages and subjects, as well as fewer students, than the second phase will encompass. This funding allows the company and university to look at how students in the region in grade levels from kindergarten through college use the devices in the classroom. The research will help the company better understand the value of e-writers in education, as well as what challenges teachers face when using them, Packer said. Ultimately, it helps the company understand its consumers better. The research also lets Kent Displays learn more about how digital handwriting helps with learning, allowing the company a stronger foothold in the education market, Packer said. — Rachel Abbey McCafferty

Euclid-based Lincoln Electric Co. has taken steps to help better educate the next generation of welders. In July, Lincoln Electric launched an online curriculum tool for welding school teachers called U/LINC. The subscription-based program includes more than 1,500 teaching tools like lesson plans, hand-outs, tests and presentations. It allows teachers at institutions from high schools to technical colleges to unions to use Lincoln Electric’s program instead of having to invest time in developing their own curriculum. Topics range from safety to CNC plasma cutting to fabrication. Jason Scales, manager of educational services, said he wasn’t aware of another resource as in-depth as the one Lincoln has introduced. The company has always had teaching materials available for instructors, but this is the first time it’s offered a complete curriculum, Scales said. It’s also the first time the company has offered something like this completely online, which allows it to be a “living document” that can be quickly added to or updated. Lincoln Electric makes a lot of technology that is used to teach welding, like its virtual welding machine, and Scales said the company also wants to give instructors the tools to teach the industry. The curriculum can help those learning at companies and schools be more productive and safer. “The education market and schools and industry really see us as a full partner with

Brennan Manna makes world a little smaller for clients

MILESTONES

BEST OF THE BLOGS Excerpts from recent blog entries on CrainsCleveland.com.

Driven to succeed

COMPANY: PRADCO, Chagrin Falls MILESTONE: Its 60th anniversary PRADCO, founded in 1955, helps organizations evaluate, select and develop employees. The firm says it combines “research-based practices with cutting-edge technology to support companies in all areas of talent management.” Services are available in multiple languages, enabling clients “to assess and develop individuals in the comfort of their native language,” PRADCO says. Its staff members are doctorate- and master’slevel management consultants with training in leadership, organizational behavior, industrial psychology and business. For information visit www.pradco.com.

COMPANY: Aespire, Sheffield Village MILESTONE: Its 20th anniversary Aespire says that over two decades, it has “evolved from a generalist design firm to an agency that specializes in aligning purpose, strategy and design for mission-driven organizations.” The firm’s regional presence has expanded since its founding in 1995, and the agency has garnered attention for its work with colleges, nonprofits, nongovernment organizations and foundations. Founded in 1985 as Brian Sooy & Co., the agency formally changed its name to Aespire in February. In April, it moved to Sheffield Village from Elyria. Sooy remains the firm’s president. For information, visit www.aespire.com.

Akron-based law firm Brennan, Manna & Diamond LLC has taken a step to help its clients expand in China — and to help Chinese companies expand here. The firm on Sept. 4 announced a new formal affiliation with Chinese law firm Jade & Fountain PRC Lawyers Corp. Brennan Manna already has an office in Shanghai, China, but this agreement adds another layer of protection for clients, as laws in China are “changing all the time,” said attorney Veronica Jiajia Xu. More clients are interested in working in China and in other Asian countries, Xu said. While the firm will still be working with its clients on those expansions, the workload was so great that it wanted additional help. Enter the affiliation with Jade & Fountain, the first of its kind the Akron firm has taken on. Prior to this, the two firms were working with one another in a less formal way, Xu said. Xu said when Jade & Fountain’s clients look to expand in the United States, the firm also will be able to help them navigate local laws. Brennan Manna has five offices in Akron, Columbus, Jacksonville, Fla., Bonita Springs, Fla., and Shanghai. Between all five, it has about 70 attorneys, Xu said, plus support staff including paralegals and administrative employees. — Rachel Abbey McCafferty

Ohio is a pretty good state in which to drive a car, according to an analysis from BankRate.com. The website ranked states in six categories: number of fatal crashes per 100,000 miles driven; number of car thefts per 100,000 people; car repair costs per job; annual gasoline spending; a fiveyear average of insurance premiums; and average commute times. Ohio was the 18th-best state for drivers. Its ranking was helped by below-average insurance costs ($699 annually vs. the national average of $910) and a low fatal crash rate (0.88 per 100,000 miles driven compared with the national average of 1.11). However, Ohio had the second-highest gas expenses, at $1,433 per year vs. $949 nationally. Idaho is the best state for drivers, thanks to low gas and insurance expenses, below-average thefts and short commute times. Vermont, Wyoming, Wisconsin and Minnesota rounded out the five best states for drivers. Louisiana placed last on the list, in large part because of the nation’s highest car insurance costs and an above-average fatal crash rate. California, Texas, Maryland and New Jersey made up the rest of the bottom five.

More All-Stars Cleveland Cavaliers head coach David Blatt is in good company on a list from Haaretz of the top 13 Jewish newsmakers of 5775 on the Jewish calendar. From the story by Haaretz, a leading English-language website for news and analysis of Israel and the Middle East: American-Israeli coach David Blatt, in his first season as the Cleveland Cavaliers head coach, guided the club to the NBA Finals and put the Midwestern city

on the radar of Israelis — Prime Minister Benjamin Netanyahu among them. Blatt, 56, had come to Cleveland after coaching Maccabi Tel Aviv to an unlikely Euroleague title. The Boston-area native had played professionally in Israel, making aliyah in 1979, and in college at Princeton. Others on the list include Supreme Court justice Ruth Bader Ginsburg, Academy Award-winning actress Natalie Portman and U.S. Sen. Bernie Sanders, currently disrupting the Democratic establishment’s rush to nominate Hillary Clinton.

Pet cause Here’s another way you can tell Ohioans are good people: We love our dogs. A survey of 3,000 “dog parents” from dog-treat maker Milo’s Kitchen ranked U.S. states by how much people love their dogs based on thankful, grateful, and loving behaviors with their dogs. Such behaviors include buying regular gifts for their dog, petting their dog, spending time with their dog and telling their dog “I love you,” the company said. This highly scientific survey put Ohio at No. 9. California, New York and Washington are the top three states. Among other findings: ■ 86% of dog parents say their dog “comforts me immeasurably” ■ 71% say their dog “reminds me to seek out more joy in life” ■ 64% say their dog “makes me look forward to going home more than anything else” ■ 63% say their dog “makes me much more patient and responsible” ■ 65% say their dog “helps me become a better person” ■ 95% of dog parents say they have a regular conversation out loud with their dog.

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