General Catalyst's Health Assurance Transformation Corporation (HATCo) has finalized a $485 million agreement to acquire Summa Health, enabling the health system to eliminate $850 million in debt. The deal includes a commitment of $350 million for technology upgrades and $200 million for strategic investments over the next several years. Summa Health will maintain its charity care policy and community services while transitioning to a wholly owned subsidiary of HATCo, aiming to enhance healthcare access and innovation in the Akron region.
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