Summa Health and HATCo Finalize Transaction, Launch Vision to Transform Healthcare in Akron and Beyond
Transaction Overview
AKRON, OH, October 1, 2025 – Ohio-based Summa Health and General Catalyst’s Health Assurance Transformation Company (HATCo) today announced the completion of their transaction, marking the start of a long-term partnership to deliver a more proactive, accessible and affordable system of community-based, lifelong healthcare.
“Today is the culmination of months of collaboration between our organizations and marks the start of a new chapter for Summa Health and those we serve,” said Cliff Deveny, M.D., Summa Health President and CEO. “With HATCo, we can preserve our community roots, invest in our team, and take bold steps to modernize and expand access to ensure Summa remains strong for decades to come.”
Summa Health employs more than 8,500 employees across the system and SummaCare. HATCo’s significant investment will ensure the sustainability of the system while also enabling strategic, transformative initiatives and innovation.
Summa Health and HATCo are focused first on achieving organizational stability, including transitioning into a for-profit, taxable structure, strengthening operations and making targeted investments that support staff and ensure patients continue to consistently receive the highest quality health care.
“This investment will ensure Summa Health remains a strong, resilient pillar of the community that endures to serve for generations,” said Daryl Tol, President of HATCo. “For our teams, that means new technology, resources and support to drive transformation enablement while addressing system fragmentation to make daily work easier. For patients, it means consistent, reliable care today and a more connected, seamless experience tomorrow as we transform together.”
In addition, the net proceeds received from the transaction will fund the Trailhead Community Health Foundation of Greater Akron to support focused investment to benefit community health in the Greater Akron region. The foundation will be governed separately from both Summa Health and HATCo and will invest in expanding access to healthcare and driving long-term improvements across our community.
“I am thrilled to work with the leadership, board and extended team to realize our shared ambition and vision, and bring to bear our collective experience and commitment to community-based care,” said Kate Walsh, Chair, Summa Health board of directors. “Together, we will ensure that Summa Health continues to provide high quality, accessible care bolstered by thoughtful investment and innovation for many years to come.”
“While the structure and model of Summa Health are changing, our priorities are not,” said George Strickler, immediate past Chair, Summa Health board of directors. “We remain deeply committed to the communities we serve and will maintain our charity care policy, community benefit and essential services while pursuing sustainable growth and expanded access to care across the region.”
While true transformation will take time, the organizations already have begun implementing a transformation plan to connect, support and empower patients, providers and staff.
“We are making a generational investment in community health infrastructure. Our partnership with Summa in Akron will serve as a blueprint for the healthcare industry,” said Hemant Taneja, CEO of General Catalyst and founder and executive chairman of HATCo. “ Outcome driven, and focused on sustainable transformation, we are reimagining and building a more resilient, affordable and proactive healthcare system that empowers people to live their healthiest lives. ”
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.