Venture Capital Firm General Catalyst To Acquire Ohio Hospital System For $485 Million

Venture capital firm General Catalyst reached a definitive agreement to buy the Summa Health hospital system in Ohio in a $485 million transaction. Summa Health will become part of General Catalyst’s Health Assurance Transformation LLC (HATCo). A target closing date was not announced because the transaction is subject to regulatory review and approval. Summa Health and HATCo are submitting applications related to the proposed transaction to all required state and federal regulatory bodies. If the transition is approved, after it closes Summa Health will transition into a for-profit, taxable structure.

The Definitive Agreement outlines the proposed terms and . . .