Kaufman Hall Serves as the Exclusive Transaction Advisor to Summa Health in its Planned Acquisition by HATCo
Transaction Overview
CHICAGO – November 7th, 2024 – Summa Health signed a Definitive Agreement outlining its planned acquisition by General Catalyst’s Health Assurance Transformation LLC (HATCo).
The proposed transaction focuses on stabilizing the health system and creating a more proactive, affordable and equitable system of community-based, lifelong healthcare.
As a result of the transaction, Summa Health will eliminate its existing debt and fund a new, separately governed community foundation that will support focused investment to benefit community health in the Greater Akron region. HATCo has also committed strategic and routine capital to drive innovation and fund necessary resources that support growth and maintain Summa Health’s charity care policy, community benefit, and essential services.
About the Companies Involved
Kaufman Hall’s Role
Kaufman Hall served as the exclusive transaction advisor to Summa Health in its acquisition by HATCo.
In connection with the transaction, Kaufman Hall also served as an advisor to Summa in the development of a new foundation to increase investment into the Greater Akron community.
About Summa Health
Summa Health is one of the largest integrated healthcare delivery systems in Ohio. Encompassing a network of hospitals, community medical centers, a health plan, an accountable care organization, a multi-specialty physician organization, research and the Summa Health Foundation, Summa is nationally renowned for excellence in patient care and for exceptional approaches to healthcare delivery. Summa’s clinical services are consistently recognized by the American Nurses Credentialing Center (Magnet status), U.S. News and World Report, Healthgrades, Thomson Reuters and The Leapfrog Group.