Date: 09/27/2018
AKRON, Ohio, September 27, 2018 – The Summa Health Board of Directors is launching the partnership exploration process effective October 1, 2018, through Kaufman Hall & Associates, seeking proposals from health systems for potential partnership. Building on its success and growth over the past year, the Board hopes to identify a partner to assist Summa Health in leveraging its current strengths and enhancing its capabilities by providing long-term financial stability in this highly competitive market; advancing its service offerings to ensure patients, members and communities have increased access to quality clinical care close to home; and supporting continued investment in the communities’ most pressing healthcare needs.
“The Board has been thoughtfully evaluating the best path forward to ensure our future growth and success and has decided to explore the possibility of partnering with another leading health system,” said Anthony Lockhart, chair of Summa Health Board of Directors. “We are seeking a potential partner who aligns with our commitment and mission to provide compassionate, quality care while further expanding our reach and access to excellent clinical services throughout Northeast Ohio and beyond.”
“Over the past year, Summa Health has grown and emerged as a stronger, more nimble organization. But with all the progress that has been made to date, we must continue to advance to safeguard our future,” said Cliff Deveny, M.D., president and CEO of Summa Health. “We are entering this process from a position of strength and financial stability and we are excited about this potential opportunity. We have set ourselves on an upward trajectory that has driven continued success for our organization and enhanced access to compassionate, quality care to those we serve.”
Increasingly, industry changes have put pressure on hospitals and healthcare systems to expand access to care while also minimizing costs. Navigating this new marketplace independently has become increasingly challenging. In fact, 2017 was a record year for industry mergers and that trend is continuing in 2018. Summa Health has witnessed this firsthand in Northeast Ohio and recognizes that though it is on a path of growth, its progress may be stymied without a partner that can help address market pressures.
As one of the largest integrated healthcare delivery systems in Ohio, Summa Health has a long-standing commitment to improving the health, well-being and vitality of the communities it serves. Its achievements and successes include new technology for cardiac patients; innovative and meaningful approaches to those struggling with opioid addiction; increased treatment options for patients with breast cancer; and ongoing investments and enhancements in Barberton and Akron City that will not only expand our services but also help boost the local economy. SummaCare also is thriving and represents unparalleled success across the state through its 4.5-star Medicare Advantage Plans. The right partner can help Summa Health continue to grow its offerings.
The Summa Health Board of Directors will be fully assessing all potential partners to determine if there is a meaningful partnership opportunity. “While we deeply value our current partnership with Mercy Health, we recognize that our organizations are moving in different strategic directions. At this time, we have a clearer understanding of our own path to growth and success, and it is important to explore if there may be other potential partners that would align more closely with our vision for the future of Summa Health,” concluded Lockhart.
The Board expects the process to be deliberate, thoughtful and lengthy as they identify strong potential candidates. Interested parties should contact Andre Maksimow at Kaufman Hall at summapartnership@kaufmanhall.com. More information about the partnership exploration will be provided via SummaHealth.org/OurFuture and Summa Health’s communications channels as the process unfolds.
Summa Health is one of the largest integrated healthcare delivery systems in Ohio. Encompassing a network of hospitals, community health centers, a health plan, a physician-hospital organization, a multi-specialty physician organization, research and the Summa Health Foundation, we are nationally renowned for excellence in patient care and for exceptional approaches to healthcare delivery. Summa’s clinical services are consistently recognized by the American Nurses Credentialing Center (Magnet status), Thomson Reuters and The Leapfrog Group. For more information, visit summahealth.org or find us on Facebook at facebook.com/summahealth and Twitter, twitter.com/summahealth.
Media Contact: Mike Bernstein
Phone: 234.312.5012
