Becker's Healthcare July 19, 2024
The proposed acquisition of Akron, Ohio-based Summa Health by Health Assurance Transformation Corp., or HATCo, is slated to close by the end of 2024, Ideastream Public Media reported July 18.
Summa Health’s President and CEO Cliff Deveny, MD, confirmed that the deal is on track to be finalized by year’s end. Reported in January, the acquisition will transition Summa Health from a nonprofit to a for-profit hospital system.
Dr. Deveny acknowledged the community’s concerns about the potential negative effects of the acquisition, such as rising costs, staff reductions and cuts in services that primarily benefit low-income populations and people of color. Howevers, Dr. Deveny believes the acquisition is the best way forward for Summa Health, which has been struggling...
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