The $485 million sale of Akron-based Summa Health to for-profit Health Assurance Transformation Co. (HATCo) has been completed, the two organizations announced Wednesday. The sale makes Summa the only for-profit major hospital in Northeast Ohio. The health system is now a wholly owned subsidiary of Health Assurance Transformation, a new business venture owned by venture capital firm General Catalyst. The purchase price, when added to Summa's current cash, will enable the health system to eliminate $850 million in existing debt, the companies said after the sale was first announced in early 2024. Health Assurance Transformation has also committed to $350 million in capital funding within the first five years for investment in technologies that support growth, as well as $200 million intended for strategic and transformative investments and to drive innovation over the first seven years.
In a social media landscape shaped by hashtags, algorithms, and viral posts, nurse leaders must decide: Will they let the narrative spiral, or can they adapt and join the conversation?
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