Akron’s Summa Health to be acquired by Health Assurance Transformation Corp.

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AKRON, Ohio – Summa Health will be acquired by General Catalyst’s Health Assurance Transformation Corp., it was announced Wednesday. This means that the hospital will be run by a for-profit company.

Summa and Health Assurance have signed a non-binding letter-of-intentoutlining the company’s planned acquisition of Summa Health.

“This new structure will better serve our communities clinically, economically and socially. With Health Assurance Transformation Corp., Summa Health will be able to increase local investment and introduce new resources that allow us to expand access to affordable, quality, coordinated care,” said Summa CEO Dr. Cliff Deveny.

“We’re excited about new opportunities to enhance the patient and provider experience, strengthen our recruitment pipeline, build upon our commitment to medical education and training, and expand the growth of SummaCare to advance health equity and population health across the communities we serve,” Deveny said.

Summa recently built the $84 million Juve Family Behavioral Health Pavilion, which opened in January 2023 and was designed exclusively for behavioral health patients with healing and safety in mind.

Summa Health was formed in 1989 with the merger of Akron City and St. Thomas Hospitals. It includes hospitals in Akron and Barberton, plus a rehab center in Akron. Summa Health has more than 8,000 employees.

This developing story will be updated.

Julie Washington covers healthcare for cleveland.com. Read previous stories at this link.

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