Akron-based Summa Health to be acquired by Michigan health system
AKRON, Ohio — Akron-based Summa Health and Southfield, Michigan-based Beaumont Health announced Tuesday they signed a letter of intent to “develop a strategic partnership.”
The not-for-profit health systems say the letter of intent means the beginning of the process to draft agreements to bring the two systems together under Beaumont Health.
They say the arrangement would allow for “continued growth and expansion to serve patients better in Michigan and Ohio.”
Summa Health, one of the largest integrated health care delivery systems in Ohio which employs about 7,000 people, said it would maintain local leadership.
In a press release, Summa Health CEO Dr. Cliff Deveny said, “Our board believes Beaumont Health would position our leadership, physicians and employees for continued success and enhance the quality of care provided to our patients in Akron and Northeast Ohio. Before making this decision, we announced we were seeking a partner in September 2018 and received responses from multiple health care systems in Michigan as well as several in Ohio and other states. Beaumont understands and supports our commitment to the communities we serve and will invest in our future growth in Ohio.”
“Beaumont Health and Summa Health are already strong and successful health care leaders. By welcoming Summa into the Beaumont family, both organizations will share expertise, invest in each other and continue to thrive as the industry evolves,” Beaumont Health CEO John Fox said in a press release. “As we expand into Ohio, we will continue to invest in our Michigan employees and operations. This year, we will launch 30 new urgent care centers. Plans to build a new mental health hospital in Dearborn and three new outpatient campuses in Livonia, Lenox Township and Royal Oak are moving forward as well.”
The press release stated the following highlights of the agreement:
• Beaumont Health has been strategically focused on regional expansion since its formation in 2014. The combined strength of Summa and Beaumont would allow both organizations to continue to invest in local health care and expand programs and services.
• SummaCare, Summa’s insurance product, would be able to expand into new markets in Ohio. Summa’s capabilities and expertise in risk-based health insurance contracts and services could benefit Michigan employers.
• By working together from positions of strength, both organizations could maximize opportunities to deliver health care more efficiently and effectively.
• The agreement would build upon the commitment of both organizations to medical education and create more opportunities for medical students to train and work.