General Catalyst's HATCo Acquires Nonprofit Summa Health in Ohio

Health Assurance Transformation Corporation (HATCo), a venture capital firm owned by General Catalyst, is set to acquire Summa Health, the largest hospital system in Summit County, Akron. The acquisition would maintain or grow Summa’s staffing, cement its headquarters in Akron, and transition it from a non-profit to a for-profit hospital, with proceeds from the sale going into a substantial community endowment. HATCo aims to transform healthcare through technology and hopes to use Summa as a model for industry-wide transformation. The sale is expected to bring about changes in patient care, technology investments, and revenue streams, with a focus on serving more people and improving patient care through evolving technology.