2026, welcome to NW Ohio.
As the tinsel comes down and fantasy football champions collect their bragging rights, the College Football Playoff is heating up and New Year’s resolutions are already being stress-tested. My family and I rang in the New Year by trading 75 and sunny South Florida for a snowy NW Ohio runway landing. Nothing like a couple inches of snow to snap you back to reality. Still, we remain bullish on the economy being built right here at home.
Toledo Money is coming up on its one-year anniversary in early March, which is wild considering we are only 10.5 months into this thing. The response has been clear. NW Ohio was ready for a business outlet with no agenda, no strings attached, just a free voice focused on local growth, economic opportunity and smart money.
Thanks for helping shape this platform. A year from now, you will either be complaining that you never got started or celebrating what you built. We’re betting on the latter.
Let’s get into it.
💪 This Week’s Shoutout: Mark Wagoner
I first met Mark Wagoner back in 2017 over a meal at M Osteria (Thank you for the hospitality, Pat). Georgetown, Ohio State Law, the Ohio House, then the Ohio Senate as Majority Whip; on paper, the résumé is serious. In person, Mark has always been refreshingly grounded.
We reconnected recently, and within a week he had me on a squash court at the Toledo Club. No fuss. Just an open door. That’s his style; humble, welcoming, and confident without ever needing to say it out loud.
Mark also serves on the board at ProMedica, continuing to invest time and leadership into an institution that matters deeply to this region.
Toledo works because of people like this. Grateful for the friendship, and for the quiet ways Mark shows up for the community.
Local Stock Market | 📈
Owens Corning | $OC ( ▼ 1.1% )
Dana Incorporated | $DAN ( ▼ 1.41% )
The Andersons | $ANDE ( ▼ 0.56% )
Owens Illinois | $OI ( ▼ 0.61% )
Welltower Inc. | $WELL ( ▼ 1.27% )
Marathon Petroleum Corporation | $MPC ( ▼ 0.73% )
First Solar | $FSLR ( ▲ 5.24% )
Thank you, Kingston | Welcome, Trilogy!
Trilogy Health Services has acquired Toledo based Kingston HealthCare Co., adding 16 senior living communities to its portfolio of more than 130 campuses. Financial terms were not disclosed.
The transaction includes 14 communities across Indiana and Ohio, plus two sites in North Carolina and New Mexico. For Trilogy, the deal reinforces a familiar strategy: focused growth in Midwest markets where the company already has operating scale.
Founded in 1997, Trilogy is known for operating campuses that offer a full continuum of care, including independent living, assisted living, memory care, and skilled nursing. Its hospitality oriented approach to senior care has helped the company grow steadily without straying far from its core geography.
While no purchase price was announced, comparable senior living transactions suggest a deal of this size could reasonably fall in the several hundred million dollar range. Portfolios with a similar mix of care levels and Midwest exposure are often valued using earnings based multiples rather than raw real estate value, particularly when the buyer is a long term operator rather than a financial sponsor.
Leadership from both organizations emphasized continuity. Trilogy CEO Leigh Ann Barney pointed to shared values around residents and employees, while Kingston founder and CEO George Rumman framed the acquisition as a way to ensure Kingston’s mission continues under experienced ownership.
From a regional standpoint, the deal signals confidence in Midwest senior living markets. Beyond healthcare delivery, these campuses represent meaningful employment and long term infrastructure, making operator stability as important as capital investment.
Local Ai Company Acquired.
Overjet has acquired DentalBee, a Toledo based AI voice documentation platform, extending Overjet’s dental artificial intelligence suite into real time clinical documentation. Financial terms were not disclosed.
DentalBee was founded in 2023 in Toledo, Ohio, with a simple but powerful goal: free dental clinicians from time consuming software navigation by turning spoken clinical encounters into structured, actionable records. The company’s voice enabled platform automates periodontal charting, clinical notes, follow up summaries, and more; all without interrupting patient care.
Overjet is best known for its FDA cleared imaging technology that helps dental professionals detect and quantify oral disease consistently across practices. The addition of DentalBee’s voice AI brings documentation and coaching capabilities into the same platform, giving dental teams a more complete picture of patient care and practice performance.
Practices today spend a significant portion of clinician time on documentation and charting, and voice enabled automation like DentalBee’s targets that operational drag directly. In the broader dental technology market, buyers are increasingly valuing tools that integrate several parts of the workflow — from diagnosis to documentation to revenue cycle — rather than standalone products.
While no purchase price was announced, dental AI deals of this type are typically valued based on strategic platform fit and customer expansion opportunity rather than revenue alone. Acquisitions in this category often reflect a buyer’s emphasis on owning more of the clinical workflow and on driving deeper integration across products.
Overjet CEO Dr. Wardah Inam said the company has been working with the DentalBee team for months and sees strong alignment in technology and mission. DentalBee CEO Mohamed Aly described the acquisition as an ideal next chapter for a Toledo born startup that aimed from day one to relieve clinicians of administrative burden and elevate patient care.
This deal underscores a broader trend in healthcare technology where local innovation can attract global players, validating regional tech ecosystems like Northwest Ohio’s ability to produce high value, specialized AI tools.
💵 Money Snacks
Here are a few headlines we are snacking on
College football money is alive and well in Toledo. The University of Toledo signed Maumee native Mike Jacobs to a five-year head coaching deal worth $1 million annually, split evenly between base salary and marketing compensation, with bonus years triggered by on-field success. Beyond the headline number, the real investment is in infrastructure, including a $1.5 million budget for assistant coaches and another $800,000 for operations, performance and support staff. Big contracts grab attention, but it’s the full football ecosystem that signals how serious programs are about winning.
A quiet but meaningful Toledo deal flew under the radar in November. Mennel Milling Company acquired the historic Toledo Flour Mill from Mondelez, locking in a century-old operation on Front Street that supplies soft wheat flour for brands like Oreo and Ritz. The move gave Mennel an experienced workforce, massive production capacity, and a long-term supply relationship with Mondelez, while opening the door to new flour products and markets. With the mill capable of producing up to 4 million pounds of flour per day, the acquisition vaulted Mennel into the fourth-largest flour milling company in the US, a reminder that some of the most strategic growth happens far from Silicon Valley.
The US economy quietly surprised to the upside. Q3 GDP grew at a 4.3% annual rate, the fastest pace in two years, beating expectations and driven by strong consumer spending, business investment and higher military outlays. The twist is sentiment tells a different story, with consumers feeling worse even as spending rises, a classic K-shaped economy where higher earners keep spending while everyone else tightens up. Rounding out the picture, gas prices are at multi-year lows while gold and silver hit record highs, signaling both relief and uncertainty at the same time.
Northwest Ohio Business Radar
Would you be willing to help Toledo Money stay ahead of the market by sharing tips on local business activity (acquisitions, expansions, new developments)?
📬 Forward Thinking
We’re not just building a newsletter—we’re building a clubhouse for ambitious professionals who care about Toledo’s economic future (and their own place in it).
If you know a colleague, peer, or friend who should be part of this circle, pass this along. The more sharp minds we bring to the table, the stronger our region grows.
