Ohio-based Summa Health has confirmed its acquisition by venture capital firm General Catalyst for $485 million. The deal, which is pending regulatory approval, will eliminate Summa Health’s $850 million debt and integrate the 1,300-bed health system into General Catalyst’s Health Assurance Transformation (HATco) network of 20 health systems. HATco has pledged $550 million over seven years to enhance operations and invest in technology, while Summa Health will maintain its charity care, community benefits, and essential services.
Private equity firm to buy Summa Health for $485M (HealthExec)
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