Akron group demands community oversight in Summa Health sale

An Akron advocacy group is opposing the planned sale of Summa Health to a venture capital firm. The group, called "Summa is Not For Sale," claims that the sale price of $485 million is low compared to the health system's actual worth. They believe Summa is financially stable and does not need to be sold to survive. During a virtual press conference, organizer Matthew Charlesbois emphasized the need for community input in Summa's future. The group has made 14 demands that they want addressed before the sale is final. They are particularly concerned about maintaining high-quality patient care and ensuring that Summa remains focused on the community. The sale is to Health Assurance Transformation, a subsidiary of General Catalyst. This acquisition is expected to finalize in mid-2025 and is meant to help Summa recover from financial struggles and reduce its $800 million debt. While Summa's management believes the deal will improve services and stability, critics worry that it may prioritize profits over patient care. The demands from Summa is Not For Sale include hiring an outside appraiser to assess Summa’s value, ensuring charity care levels remain unchanged, and prohibiting the sale of hospital properties for profit. The group is also urging the Ohio Attorney General to pause the sale for public hearings. Supporters of the sale argue it will ensure financial stability for Summa Health. However, some community members express concerns about possible reductions in care quality or access, especially for vulnerable populations.