Defending Summa Health’s Partnership: Leaders Stand Bold for Progress

Summa Health, an Akron-based health system, is defending its proposed acquisition by venture capital firm Health Assurance Transformation Company (HATCo) despite concerns from the community. Chief Operating Officer Benjamin Sutton stated that the acquisition will allow Summa to maintain financial stability and continue to provide necessary services to the community. The deal will also enable the health system to expand its services and invest in new technologies. However, the news of the acquisition has sparked confusion and concern among residents and Akron leaders. Some are urging the health system to remain nonprofit, while others are calling for alternative plans. Summa Health officials have acknowledged these concerns but argue that doing nothing or merging with another nonprofit hospital would be worse. If the deal goes through, the health system would no longer be able to accept philanthropic donations, but officials are already in talks with other community agencies to form a new foundation focusing on social determinants of health. Overall, Summa Health believes that the proposed acquisition will be beneficial for its future growth and ability to meet the healthcare needs of the community.