Summa Health is defending its decision to pursue a sale and dispelling fears that the deal could result in the hospital system sacrificing quality of care for higher profits.
At Monday’s council meeting, Ward 8 Councilman James Hardy publicly called for Summa to pause its sale to Health Assurance Transformation Corp., a new health care company owned by one of America’s largest venture capital firms, General Catalyst.
Summa spokesman Mike Bernstein responded to the concerns in an email the Beacon Journal.
“While HATCo is part of a venture capital firm, it isn’t structured as a typical venture fund,” Bernstein said. “We believe that in HATCo we have found a truly strategic partner that is committed to our model and the culture that has driven Summa Health’s success.”
He explained that HATCo is structured to deliver continuing investment in technology, innovation and services that generate fresh revenue and push the hospital in a sustainable direction, improving local delivery of care in the process.