General Catalyst's HATCo Acquires Summa Health
January 17, 2024
Health Assurance Transformation Company (HATCo), a new health-systems vehicle backed by venture firm General Catalyst, agreed to acquire Akron, Ohio-based Summa Health—converting the nonprofit into a for-profit subsidiary. The transaction (announced in 2024 and later closed with regulatory approval) will provide significant capital to stabilize operations and fund technology-driven transformation; Summa employs roughly 8,500 people and reported about $1.8–$2.0 billion in revenue.
- Buyers
- Health Assurance Transformation Company (HATCo), General Catalyst
- Targets
- Summa Health
- Sellers
- Summa Health (as the selling nonprofit entity)
- Industry
- Healthcare Services
- Location
- Ohio, United States
- Transaction Type
- Buyout
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