Summa Health will become a wholly owned subsidiary of Michigan-based Beaumont Health, according to a joint statement released Tuesday by the health care entities.
Beaumont Health and Akron-based Summa Health have signed a letter of intent to develop a strategic partnership, signaling the beginning of the process to bring the two not-for-profit health systems together under Beaumont Health, Michigan’s largest health care system.
“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 statement.
“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.”
Summa Health would maintain local leadership, including a local board, under the agreement.
“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, Summa Health CEO Dr. Cliff Deveny said in a statement.
“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.”
Summa Health is one of the largest integrated health care delivery systems in Ohio with total annual revenues of $1.4 billion and employs approximately 7,000 people. The not-for-profit organization includes a network of four hospitals with a total of 1,300 licensed inpatient beds, community health centers, SummaCare, a physician-hospital organization and a multi-specialty physician organization.
Summa Health operates the Medina Medical Center, 3780 Medina Road; Wadsworth Community Center, 621 School Drive; and Wadsworth-Rittman Medical Center, 195 Wadsworth Road.
With the agreement, Summa and Beaumont said both organizations would continue to invest in local health care and expand programs and services.
“Summa Health initiated a partnership exploration process to ensure we continue to thrive and grow in a changing health care environment,” Summa Health Board Chair Anthony Lockhart said in a statement.
“We looked at many potential partners and believe Beaumont Health is the best fit because of this organization’s support for our strong cultural values and alignment with our mission to provide compassionate, quality care.”
After due diligence and approval from regulatory agencies, the two organizations plan to finalize the partnership by the end of the year.