Summa Health System to be acquired by health care venture capital firm

Summa Health announced Wednesday that it had signed a letter of intent to be acquired by the company HATCO (Health Assurance Transformation Corporation), which the venture capital firm General Catalyst owns. According to Summa Health, it will continue to provide patients already within the system. After the acquisition goes through, patients will still have access to the care providers they are already seeing. Summa will still be based in the Akron area. The deal is part of a larger trend of hospital systems merging or being sold to larger companies so they can remain competitive.