DOCSLIB.ORG

State of Ohio

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
State of Ohio PRELIMINARY OFFERING CIRCULAR DATED JULY 31, 2017 NEW ISSUE RATINGS: Moody’s: “Aa2” BOOK ENTRY ONLY S&P: “AA” SEE “RATINGS” HEREIN In the opinion of Squire Patton Boggs (US) LLP, Bond Counsel, under existing law (i) assuming continuing compliance with certain covenants and the accuracy of certain representations, interest on the Series 2017A Bonds is excluded from gross income for federal income tax purposes and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations; however, interest on the Series 2017A Bonds is included in the calculation of a corporation’s adjusted current earnings for purposes of, and thus may be subject to, the corporate alternative minimum tax, and (ii) interest on, and any profit made on the sale, exchange or other disposition of, the Series 2017A Bonds and the Series 2017B Taxable Bonds are exempt from all Ohio state and local taxation, except the estate tax, the domestic insurance company tax, the dealers in intangibles tax, the tax levied on the basis of the total equity capital of financial institutions, and the net worth base of the corporate franchise tax. Interest on the Series 2017A Bonds may be subject to certain federal taxes imposed only on certain corporations, including the corporate alternative minimum tax as a result of the inclusion of that interest in the calculation of a corporation’s adjusted current earnings for purposes of the corporate alternative minimum tax. INTEREST ON THE SERIES 2017B TAXABLE BONDS IS NOT EXCLUDED FROM GROSS INCOME FOR FEDERAL INCOME TAX PURPOSES. For a more complete discussion of the tax aspects, see “TAX MATTERS” herein. $1,000,000,000* COMPOSITE ISSUE CLEVELAND CLINIC HEALTH SYSTEM OBLIGATED GROUP consisting of the following new issues: $840,000,000* $160,000,000* STATE OF OHIO STATE OF OHIO Hospital Refunding Revenue Bonds, Taxable Hospital Refunding Revenue Bonds, Series 2017A Series 2017B (Cleveland Clinic Health System Obligated Group) (Cleveland Clinic Health System Obligated Group) DATED: DATE OF ISSUANCE DUE: JANUARY 1, AS SHOWN ON THE INSIDE FRONT COVER The State of Ohio (the “State”), acting by and through the Ohio Higher Educational Facility Commission (the “Commission”), will, pursuant to the Bond Indenture described herein, issue its $840,000,000* State of Ohio Hospital Refunding Revenue Bonds, Series 2017A (Cleveland Clinic Health System Obligated Group) (the “Series 2017A Bonds”) and its $160,000,000* State of Ohio Taxable Hospital Refunding Revenue Bonds, Series 2017B (Cleveland Clinic Health System Obligated Group) (the “Series 2017B Taxable Bonds” and, together with the Series 2017A Bonds, the “Series 2017 Bonds”). The proceeds of the Series 2017 Bonds, together with other moneys available to the Cleveland Clinic, will be used for the purpose of (i) refunding the Refunded Bonds (as defined herein) and (ii) paying related expenses for the issuance of the Series 2017 Bonds. See “PLAN OF FINANCE” herein. The payment of principal of and interest (collectively, “Bond Service Charges”) on the Series 2017A Bonds will be secured by a promissory note (the “Series 2017A Master Note”) issued by The Cleveland Clinic Foundation, an Ohio nonprofit corporation (the Cleveland“ Clinic”), under an Amended and Restated Master Trust Indenture dated as of April 1, 2003, as amended and supplemented (the “Master Trust Indenture”), between the Cleveland Clinic and eight controlled, affiliated nonprofit corporations, together forming a combined financing group under the Master Trust Indenture (each an Obligated“ Issuer” and, collectively, the “Obligated Group”), and The Huntington National Bank, as Master Trustee. The payment of the Bond Service Charges on the Series 2017B Taxable Bonds will be secured by a promissory note (the “Series 2017B Master Note” and, together with the Series 2017A Master Note, the “Series 2017 Master Notes”) issued by the Cleveland Clinic under the Master Trust Indenture. The Series 2017 Master Notes will be general obligations of the Cleveland Clinic and the other Obligated Issuers, each of which will be jointly and severally liable for payment of the amounts due thereon. Payment of principal of and interest on the Series 2017 Master Notes will be secured on a parity basis, together with amounts payable on all other promissory notes heretofore or hereafter issued under the Master Trust Indenture (collectively, the “Master Notes”), by a pledge of Gross Receipts of the Obligated Issuers. See “SECURITY FOR THE SERIES 2017 BONDS.” Entities may join or withdraw from the Obligated Group under the circumstances described in the Master Trust Indenture. The Series 2017 Bonds will be registered in the name of Cede & Co., as nominee for The Depository Trust Company, New York, New York (“DTC”). Purchases of the Series 2017 Bonds may be made only in book‑entry form, and no physical delivery of the Series 2017 Bonds will be made to beneficial owners, except as described herein. See “APPENDIX E — DTC BOOK‑ENTRY ONLY SYSTEM AND GLOBAL CLEARANCE PROCEDURES.” The Series 2017A Bonds are issuable in denominations of $5,000 or any integral multiple thereof. The Series 2017B Taxable Bonds are issuable in denominations of $1,000 or any integral multiple thereof. Interest on the Series 2017 Bonds will be payable on January 1 and July 1 of each year (an “Interest Payment Date”), commencing January 1, 2018, to the Holders of the Series 2017 Bonds on the fifteenth day (whether or not a Business Day) of the calendar month preceding an Interest Payment Date. The principal of and interest on the Series 2017 Bonds will be paid by the Bond Trustee to Cede & Co. as long as Cede & Co. is the registered owner of the Series 2017 Bonds. Disbursements of payments to the Direct Participants (as defined in APPENDIX E hereto) is the responsibility of DTC and disbursements of such payments to the Beneficial Owners is the responsibility of Direct Participants and Indirect Participants as more fully described in APPENDIX E hereto. The Series 2017 Bonds are subject to optional, extraordinary optional and mandatory sinking fund redemption, and to optional purchase in lieu of redemption, all prior to maturity as described herein. SEE MATURITIES, PRICES, AND CERTAIN OTHER INFORMATION SET FORTH ON THE INSIDE FRONT COVER PAGE HEREOF. The Series 2017 Bonds are special obligations of the State, issued by the Commission, secured under the provisions of the Bond Indenture and by the Lease described herein, and will be payable from rental payments made by the Cleveland Clinic under the Lease, and from certain amounts held by the Bond Trustee in the Special Funds created under the Bond Indenture. The obligation of the Cleveland Clinic to make such payments is evidenced and secured by the Series 2017 Master Notes. Payments on the Series 2017 Master Notes are required to be made in an amount sufficient to pay Bond Service Charges on the Series 2017 Bonds when due. The Series 2017 Bonds are secured solely by the Bond Indenture and are payable solely from payments required to be made by the Cleveland Clinic under the Lease and by the Obligated Issuers on the Series 2017 Master Notes and as otherwise provided in the Master Trust Indenture. THE SERIES 2017 BONDS DO NOT REPRESENT OR CONSTITUTE A DEBT OR PLEDGE OF THE FAITH AND CREDIT OF THE COMMISSION OR THE STATE, WILL NOT BE SECURED BY AN OBLIGATION OR PLEDGE OF ANY MONEY RAISED BY TAXATION AND DO NOT GRANT TO THE HOLDERS ANY RIGHTS TO HAVE THE STATE OR ANY POLITICAL SUBDIVISION THEREOF LEVY ANY TAXES OR APPROPRIATE ANY FUNDS FOR THE PAYMENT OF BOND SERVICE CHARGES ON THE SERIES 2017 BONDS. This cover page contains certain information for immediate reference only. It is not intended to be a complete summary of the terms of or security for the Series 2017 Bonds. Investors must read the entire Offering Circular to obtain information essential to the making of an informed investment decision. The Series 2017 Bonds are offered when, as and if issued and received by the Underwriters, subject to prior sale, withdrawal or modification of the offer without any notice, and to the opinion on certain legal matters relating to their issuance of Squire Patton Boggs (US) LLP, Bond Counsel to the Commission. Certain legal matters will be passed upon for the Underwriters by their counsel, Orrick, Herrington & Sutcliffe LLP and for the Cleveland Clinic and the other Obligated Issuers by the Chief Legal Officer of the Cleveland Clinic and by their special counsel, Chapman and Cutler LLP. Chapman and Cutler LLP has also served as disclosure counsel to the Cleveland Clinic in connection with the preparation of this Offering Circular. The Series 2017 Bonds are expected to be available for delivery to DTC in New York, New York or to its custodial agent on or about August __, 2017. J.P. Morgan Barclays PNC Capital Markets LLC1 Wells Fargo Securities1 BofA Merrill Lynch1 Citigroup1 BNY Mellon Capital Markets, LLC1 KeyBanc Capital Markets Inc.1 Loop Capital Markets1 US Bancorp1 Dated: __________, 2017 * Preliminary, subject to change. 1 This Preliminary Offering Circular and the information contained herein are subject to completion, amendment or other change without any notice. Under no circumstances shall this Preliminary Offering Circular constitute an offer to sell or Under no circumstances shall this Preliminary Circular constitute an offer Offering This Preliminary notice. contained herein are subject to completion, amendment or other change without any Circular and the information Offering such jurisdiction. prior of any or qualification under the securities to registration be unlawful laws solicitation or sale would sale of these securities jurisdiction nor shall there be any in any in which such offer, to buy, the solicitation of an offer For the Series 2017A Bonds only.
Load more

Recommended publications
  • An Hour with Dr. Toby Cosgrove
    Cleveland Clinic Lerner College of MedicineInSight July 2017 An Hour with Dr. Toby Cosgrove Three first-year medical students — Lauren Larkin, Daniel Moussa and Lillian Sun — interviewed Toby Cosgrove, MD, CEO and President of Cleveland Clinic, on topics ranging from medical education to leadership to the evolving healthcare landscape. His insights reflect his candidness, thoughtfulness and, often, his humor. During the second half of the program, Dr. Cosgrove took questions from the audience, which comprised about 100 CCLCM students from all five years, along with faculty. A reception was held after the event. The interview came at an auspicious time: Dr. Cosgrove Because the new campus will integrate several individual had announced his retirement just days before. Here are schools, Dr. Cosgrove said that he is going to encourage some highlights from the interview, which was held May 4: faculty to teach courses not to individual groups, but to On the new Health Education Campus: “It’s going to be everyone together. a sensational facility. But the concept to me is not just a During a discussion of the design of the new campus, new building. The concept is a new concept of education. CCLCM Executive Dean James B. Young, MD, mentioned It’s team play, they learn together and it’s also using the Dr. Cosgrove’s minimalistic, clean aesthetic, and Dr. technologies that are currently available,” noting CCLCM’s Cosgrove jokingly responded by asking, “Have you read my continued exploration using Microsoft HoloLens and IBM’s book: Fifty Shades of White?” Watson. On leadership: “I can’t tell you how important I think • Reducing expenses leadership is.
    [Show full text]
  • The Class of 2018
    Cleveland Clinic Lerner College of Medicine InSightJune 2018 Celebration Honors the 10th Graduating Class: The Class of 2018 The 32 students of the CCLCM graduating class, their family and stories as a way to continue your development as physicians,” friends gathered on Saturday evening, May 19, to celebrate their hard said Dr. Isaacson, inviting them to also share their stories with work and many accomplishments over the last five years. the CCLCM community. After welcoming colleagues, faculty, supporters, family and friends Tom Mihaljevic, MD, the new CEO and President of Cleveland to the event, J. Harry Isaacson, MD, Interim Executive Dean of the Clinic, took the podium to congratulate the graduates and remind Lerner College of Medicine, acknowledged the 175th anniversary of them that they always have a job at Cleveland Clinic if they so the Case Western Reserve University School of Medicine and the 10th choose. He said that we view our organization as a family, and “this graduating class of CCLCM. He then recognized Mrs. Norma Lerner place will always keep the lights on for you.” He told the class that and James B. Young, MD, former Executive Dean of CCLCM and now there’s never been a better time to be in healthcare. “The time is Chief Academic Officer of Cleveland Clinic, both of whom addressed exciting, the opportunities are limitless,” he said. the group with video messages since they were attending family graduations. Dr. Isaacson also recognized Toby Cosgrove, MD, former This graduating class will be known not only for their many CEO and President of Cleveland Clinic.
    [Show full text]
  • D I V I S I O Ns, D E Pa R T M E N T S, I N S T I T U T Es, and Centers
    section four D I V I S I O N S, D E PA R T M E N T S, I N S T I T U T E S, AND CENTERS 1 5 5 11. DIVISION OF MEDICINE BY MUZAFFAR AHMAD, CLAUDIA D’ARCANGELO, AND JOHN CLOUGH A good physician knows his patient through and through, and his knowledge is bought dearly. Time, sympathy, and understanding must be lavishly dispensed, but the reward is to be found in that personal bond, which forms the greatest satisfaction of medical practice. —A.C. Ernstene B E G I N N I N G S THE DIV I S I O N OF MED I C I N E HA S PL AY E D AN IM P O R TAN T RO L E IN TH E development of medical practice at The Cleveland Clinic since its opening in 1921. Dr. John Phillips, the only internist among the four founders, was the first chief of the Division of Medicine, then called the Medical Department. He was a true family physician who saw medicine begin to move away from house calls and toward an of fice-based practice during the eight years between 1921 and his untimely death in 1929 at age 50. Nevertheless, he continued to tr eat patients with diverse disorders and make house calls, often spending his entire weekend visiting patients in their homes. Despite his own inclination and experience, Phillips rec o g n i z e d the value of specialization. In 1921, he assigned Henry J.
    [Show full text]
  • Return of Organization Exempt from Income
    OMB No. 1545-0047 Form 990 Return of Organization Exempt From Income Tax ~oO Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation) Department of the Treasury Internal Revenue Service " The organization may have to use a copy of this return to satisfy state reporting requirements . - A For the 2003 calendar year, or tax year beginning , 2003, and ending 20 D Employer identification number B Check it applicable Please C Name of organization THE CLEVELAND CLINIC FOUNDATION use SRS GROUP RETURN 91 ;2153073 D Address change label or print or Number and street (or P.O box if mail is not delivered to street address) Room/suite E Telephone number Name change ~e~ 9500 EUCLID AVENUE H-18 (216) 738-5622 0 Initial return Specific or town, state or country, and ZIP + 4 Final return Instruc- City F Accounting method : U Cash LI Accrual lions. CLEVELAND, OH 44195 Other (specify) t Amended return ~ H and I are not applicable to section 527 organizations. Application pending ~ Section 501(c)(3) or9 gaoranizations and 4947 (a)(1 ) nonnonexem Ptpt charitable trusts must attach a completed Schedule A (Form 990 or 990-EZ). H(a) Is this a group return for affiliates? X Yes 0 No . G Website: t www.clevelandclmic org H (b) If "Yes," enter number of affiliates 0 . H (c) Are all affiliates included? 0 Yes ?-------D No J Organization tvqe (check only one) " N 501(c)( 3 ) .4 (insert no ) El 4947(a)(1) or El 527 (If "No," attach a list.
    [Show full text]
  • Alumni Connection Volume XXIX, No. 1
    Alumni Connection Volume XXIX, No. 1 Family Honors Dr. Roscoe J. Kennedy Through Longstanding Lecture Series Larry and Maryann Kennedy have a history of giving to organizations that have played significant roles in their lives, and Cleveland Clinic has been one of those beneficiaries. Larry’s father, Roscoe J. Kennedy, MD (Staff ‘37), died in 1986 at the age of 82. He was head of Ophthalmology for 22 years, Charis Eng, MD, PhD, with from 1947 to 1969, during his 50 years former U.S. Vice President Joseph at Cleveland Clinic. He is described in R. Biden after receiving the Cleveland Clinic literature as a respected American Cancer Society’s Medal physician who served with distinction. of Honor in Washington, D.C. An unassuming man, Dr. Kennedy once recalled that the highlight of his Dr. Eng Awarded career was not personal recognition but helping others. American Cancer “Not too many years ago, patients Larry and Maryann Kennedy are keeping the Society Medal with cataracts were not as ready to accept legacy of Larry’s father alive through their funding of Honor surgery as they are today,” he said. “But of the Roscoe J. Kennedy (MD) Lecture Series. with modern techniques, many now have Dr. Kennedy was head of Ophthalmology at At a special ceremony in their vision restored to virtually normal. Cleveland Clinic for 22 years during his 50-year Washington, D.C., in fall 2018, Continued on page 13 medical career there. Charis Eng, MD, PhD, (Staff ‘05) was presented with the American Cancer Society’s Medal of Honor, its highest Alumni Association Honors Top Physicians level of recognition.
    [Show full text]
  • 1 THERESA WERNER: (Sounds Gavel.) Good Afternoon, and Welcome To
    NATIONAL PRESS CLUB LUNCHEON WITH DR. DELOS “TOBY” COSGROVE OF THE CLEVELAND CLINIC SUBJECT: CLEVELAND CLINIC’S CHIEF EXECUTIVE DR. DELOS "TOBY" COSGROVE WILL DISCUSS HEALTHCARE POLICY IN THE WAKE OF THE SUPREME COURT'S HISTORIC AFFORDABLE CARE ACT RULING. MODERATOR: THERESA WERNER, PRESIDENT, NATIONAL PRESS CLUB LOCATION: NATIONAL PRESS CLUB BALLROOM, WASHINGTON, D.C. TIME: 12:30 P.M. EDT DATE: TUESDAY, JULY 20, 2012 (C) COPYRIGHT 2008, NATIONAL PRESS CLUB, 529 14TH STREET, WASHINGTON, DC - 20045, USA. ALL RIGHTS RESERVED. ANY REPRODUCTION, REDISTRIBUTION OR RETRANSMISSION IS EXPRESSLY PROHIBITED. UNAUTHORIZED REPRODUCTION, REDISTRIBUTION OR RETRANSMISSION CONSTITUTES A MISAPPROPRIATION UNDER APPLICABLE UNFAIR COMPETITION LAW, AND THE NATIONAL PRESS CLUB RESERVES THE RIGHT TO PURSUE ALL REMEDIES AVAILABLE TO IT IN RESPECT TO SUCH MISAPPROPRIATION. FOR INFORMATION ON BECOMING A MEMBER OF THE NATIONAL PRESS CLUB, PLEASE CALL 202-662-7505. THERESA WERNER: (Sounds gavel.) Good afternoon, and welcome to the National Press Club. My name is Theresa Werner, and I am the 105th president of the National Press Club. We are the world’s leading professional organization for journalists, committed to our profession’s future through programming with events such as these, while fostering a free press worldwide. For more information about the National Press Club, please visit our website at www.press.org. To donate to programs offered to the public through the National Press Club Journalism Institute, please visit www.press.org/institute. On behalf of our members worldwide, I’d like to welcome our speaker and those of you attending today’s event. Our head table includes guests of our speaker as well as working journalists who are Club members.
    [Show full text]
  • Trustees, Governors, and a D M I N I S T R at I O N
    section five TRUSTEES, GOVERNORS, AND A D M I N I S T R AT I O N 3 4 9 22. ADMINISTRATION: THE “GRAY COATS” BY DALE GOODRICH Our chief want in life is somebody who shall make us do what we can. —Ralph Waldo Emerson THR O U G H O U T TH E HI S T O R Y OF THE CLE V E L A N D CLI N I C , TH E OR G A N I Z AT I O N ’S excellence has emanated from the numerous giants of medicine, sur- ge r y, medical education, and res e a r ch whose accomplishments have been chronicled in these pages. A few of these clinical pioneers have also been health industry visionaries and worthy stewards of The Cleveland Clinic’s physical and monetary assets. Physician leaders Crile, LeFevre, Wasmuth, Kiser, and most rec e n t l y , Loop, guided the or ganization through the twentieth and into the twenty-first cen- turies, in both good times and bad. We should, nevertheless, pause and recognize the non-clinical specialty of professional administra- tion, without which the business accomplishments of the Clinic would not have occurred . 1 As with its clinicians, the Clinic has enjoyed a continuing suc- cession of skilled and capable administrators who have made count- less contributions to the advancement of the institution’s mission. Pr ofessional managers and administrators have worked to keep the or ganization viable and on course during difficult and trying finan- cial and political times.
    [Show full text]
  • To Download a PDF of an Interview with Toby Cosgrove, M.D
    Quality Care An Interview with Toby Cosgrove, M.D., President and Chief Executive Offi cer, Cleveland Clinic EDITORS’ NOTE Dr. Toby Cosgrove What makes Cleveland Clinic so disease. Hospitals will increasingly be utilized only received his medical degree from special and what has been the key for addressing really complex issues. More and the University of Virginia School of to its success? more things are being looked after as outpatients Medicine in Charlottesville and We have to go back to our model, and short-term stay, so the nature of hospitals is completed his clinical training at which incorporates 3,600 physicians in a changing. There are fewer beds in the United States Massachusetts General Hospital, group practice. We are all salaried and right now. There has been a 20 percent reduction Boston Children’s Hospital, and we have one-year contracts, annual pro- in the total number of hospital beds in the U.S. Brook General Hospital in London. fessional reviews, and are physician-led. because people are spending less time in the hos- His undergraduate work was at This has been the case throughout pital and are utilizing more outpatient care. Williams College. He was a surgeon the long history of the institution. There seems to be a move toward con- in the U.S. Air Force and served in Is top talent still coming into solidation into larger health systems. Is that Da Nang, Republic of Vietnam as medicine? what is happening and will small, community the Chief of U.S. Air Force Casualty Toby Cosgrove There is no question that top talent hospitals survive? Staging Flight.
    [Show full text]
  • SBAS 2008 Program
    The Society of Black Academic Surgeons In Joint Sponsorship With The Cleveland Clinic present the 18th Annual Scientific Session April 17-20, 2008 at the InterContinental Hotel and Bank of America Conference Center Cleveland, Ohio Objectives Table of Contents After completing this activity, the participant will be able to: • Review technical advances in general surgery, orthopedic surgery, cardiothoracic and vascular surgery, trauma management, and oncology Objectives, Accreditation Statement, & Disclaimer 2 surgery, as well as advances in subspecialty surgical care; Officers & Executive Council 4 • Discuss state-of-the-art transplant and nonoperative management of SBAS Program Committee 5 traditional surgical diseases; Committee on Local Arrangements 5 • Describe the relationship between a major medical center and the local and/or regional community and the international medical community; Guest Lecturers 5 • Provide education pertaining to therapies and new modalities of 2007 Honorary Fellows 5 minimally invasive surgery. Faculty Disclosure 6 Accreditation Statement SBAS History 7 This activity has been planned and implemented in accordance with the SBAS Past Presidents 7 Essential Areas and policies of the Accreditation Council for Continuing Program Agenda 8 Medical Education through the joint sponsorship of the Cleveland Clinic Social Program 10 Foundation Center for Continuing Education and the Society of Black Academic Surgeons. The Cleveland Clinic Foundation Center for Local Program 11 Continuing Education is accredited by the ACCME to provide continuing Scientific Sessions - Friday 15 medical education for physicians. Scientific Sessions - Saturday 16 The Cleveland Clinic Foundation Center for Continuing Education desig- Sessions at a Glance 18 nates this educational activity for a maximum of 15.25 AMA PRA Asa Yancey Lecture 27 Category 1 Credits™.
    [Show full text]
  • Alumni Connection Volume XXVII, No
    Alumni Connection Volume XXVII, No. 3 Four Physicians Honored At Alumni Awards Night Doctors Gene Barnett, Kathleen Franco, Lee Adler and James Lewis were recognized for their remarkable achievements in medicine and significant contributions to Cleveland Clinic at the Cleveland Clinic Alumni Association’s Annual Awards Night in September. “Each individual has established his or her own special place in such diverse medical fields as neuro-oncology, Weathering psychiatry, osteopathy and nephrology,” the Storm said Conrad H. Simpfendorfer, MD, FACS, (S’04, MIS’05, S/HEP’06), Alumni Ella Delgado enjoys some play Association President and event host. time while her father and others “But what they all share is an unquenchable Gene Barnett (center), MD, receives the Alumni tend to patients and facilities thirst for knowledge and a capacity for Association’s Distinguished Alumnus Award at at Cleveland Clinic Florida in ceremonies recently in Cleveland. Presenting constant growth.” Weston during Hurricane Irma the honor are Conrad H. Simpfendorfer, MD, in September. Families of those The Distinguished Alumnus Award Association President, and Susan J. Rehm, employees who were working was presented to Gene H. Barnett, MD, Association Immediate Past President. extended hours at the hospital MBA (GS’81, NS’86), a neuro-oncologist due to the storm were invited widely known for his innovations and This award goes to a recipient who to join them. Ella is the daughter has brought pride and recognition to of Ozzie Delgado, Chief Operating groundbreaking approaches to brain Officer at Weston. surgery. He holds the Rose Ella Burkhardt Cleveland Clinic through achievements See story page 2.
    [Show full text]
  • Alumni Connection Volume XXVII, No
    Alumni Connection Volume XXVII, No. 1 A Legacy of Learning FELLOWSHIP Four Greats in Cardiology MATCH HITS RECORD 97 Honored at Annual Event PERCENT Four outstanding Cleveland Clinic As the fellowship match physicians were recipients of Emeritus process continues to get Professorship Awards at the second annual more competitive nationally, Sones/Favaloro Scientific Program and Cleveland Clinic’s Internal Awards Presentation, held in November in Medicine Residency Program Cleveland: William L. Proudfit, MD, Edwin is rising to the occasion. G. Beven, MD, Paul Taylor, MD, and Mehdi Last year, Cleveland Razavi, MD. Clinic boasted a match rate “Their work helped to propel Cleveland of 97.4 percent, far Clinic to international status for heart exceeding the national rate care,” said Lars G. Svensson, MD, PhD of 81.3 percent and beating (CARD/S’87), Chair of the Sydell and Arnold Cleveland Clinic’s own prior Miller Family Heart & Vascular Institute, match rates. which hosted the event. Mehdi Razavi, MD, has played a central role in Internal Medicine The Sones/Favaloro program is the life of Cleveland Clinic for almost 50 years. Residency Program Director named after two legendary Cleveland Abby Spencer, MD, says Clinic doctors: F. Mason Sones, MD, and for medical excellence. Cleveland Clinic’s match rate René Favaloro, MD. Dr. Sones and Dr. A graduate of the Isfahan Medical School for the most competitive fields Favaloro were pioneers in coronary artery in Iran, Dr. Razavi completed his internship (cardiology, GI, pulmonary angiography and coronary artery bypass at the Martland Medical Center in New critical care and oncology) surgery, respectively.
    [Show full text]
  • To Act As a Unit
    To Act As A Unit THE STORY OF THE CLEVELAND CLINIC To Act As A Unit THE STORY OF THE CLEVELAND CLINIC Fourth Edition JOHN D. CLOUGH, M.D., Editor CLEVELAND CLINIC PRESS To Act As A Unit: The Story of the Cleveland Clinic ISBN 1-59624-000-8 Copyright © 2004 The Cleveland Clinic Foundation 9500 Euclid Avenue, NA32 Cleveland, Ohio 44195 All rights reserved. This book is protected by copyright. No part of this book may be reproduced in any form or by any means, including photocopying, or utilized by any information storage or retrieval system without written per- mission from the copyright owner. Printed in the United States of America 10 9 8 7 6 5 4 CONTENTS PREFACE TO THE FOURTH EDITION 11 FOREWORD 15 SECTION ONE: THE EARLY YEARS 1. THE FOUNDERS 19 The Earliest Beginnings 19 Early Practice 23 The World War I Years 25 Return to Practice 29 2. THE FIRST YEARS, 1921-1929 33 Building the New Clinic 33 Charter and Organization 36 The Grand Opening 39 The Clinic’s Work Begins 43 3. THE DISASTER, 1929 49 The Explosions 49 Emergency and Rescue 51 Sorting It All Out 56 4. THE PHOENIX RISES FROM THE ASHES, 1929-1941 59 The Great Depression 59 Growth and Maturation 62 5. TURBULENT SUCCESS, 1941-1955 69 The Torch Passes 69 Success and Maturation 73 Grumbling and Unrest 76 5 6 / CO N T E N T S SECTION TWO: THE BOARD OF GOVERNORS ERA 6. THE LEFEVRE YEARS, 1955-1968 83 Into a New Era 83 Trustees and Governors 85 Commitment and Growth 86 7.
    [Show full text]